PrizePicks Exits Canadian Market as Company Prioritizes US Expansion

Daily fantasy sports company PrizePicks has announced its withdrawal from the Canadian market. A spokesperson confirmed this decision on Tuesday. The Atlanta-based operator informed customers via email that it is shifting its focus to expanding in the United States.

The company described the decision as “difficult.” They emphasized their commitment to enhancing the player experience in the U.S. PrizePicks has been operating across Canada, except in Ontario, where gaming is tightly regulated.

PrizePicks Sets Timeline to Cease Canadian Operations

Effective March 10, PrizePicks will no longer allow Canadian users to set new lineups or deposit funds. Customers have until April 2 to withdraw any remaining balances from their accounts. All operations will cease by April 3. The email sent to customers expressed gratitude for their participation. It stated, “The PrizePicks team thanks you for playing.”

This decision aligns with recent developments in the US fantasy sports landscape. PrizePicks has recently re-entered New York after obtaining an interactive fantasy sports license from the New York State Gaming Commission. This license allows the company to expand its offerings in a state with significant growth in regulated gaming.

PrizePicks Shifts Focus to US Fantasy Sports and Prediction Markets

The announcement from PrizePicks coincides with challenges faced by its competitors. Just a day prior, rival Underdog laid off 125 employees as it pivots towards prediction markets.

While PrizePicks has not directly linked its exit from Canada to its prediction market initiatives, it has made significant strides in this area. Since 2025, the company has partnered with federally regulated trading exchange Kalshi. This partnership allows it to offer prediction markets in 35 jurisdictions, including states where traditional sports betting is not yet legalized.

Regulatory Challenges in Canada Impact Fantasy Sports Operators

PrizePicks’ exit highlights regulatory hurdles faced by fantasy sports operators in Canada. In Ontario, where the market is regulated, operators must navigate strict licensing requirements. These requirements limit their ability to attract players from outside the province.

Recent court rulings have allowed players to engage in peer-to-peer games across borders. However, ongoing legal battles over international liquidity pose challenges. The Canadian Lottery Coalition continues to advocate for restrictions against foreign operators. This complicates the landscape for companies like PrizePicks.

In contrast, the US market offers clearer regulatory pathways. This prompts PrizePicks to focus its resources there. The company aims to capitalize on the growing popularity of prediction contests in states with established fantasy sports audiences.