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PrizePicks Enters Prediction Markets with FCM License, Following Allwyn’s $1.6B Stake Acquisition
PrizePicks Enters Prediction Markets with FCM License, Following Allwyn’s $1.6B Stake Acquisition
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BTCCSquare news:
PrizePicks has become the first sports entertainment operator to secure a Futures Commission Merchant (FCM) license from the National Futures Association, enabling it to offer prediction markets. This strategic MOVE follows European lottery giant Allwyn International's acquisition of a 62.3% stake in PrizePicks earlier this week, valued at $1.6 billion.
The company now joins FanDuel as the second major sports betting player entering the prediction market space—a sector projected to reach $95 billion by 2035. DraftKings is also rumored to be exploring similar opportunities, though unconfirmed. The license marks Allwyn's expansion into the U.S. market, leveraging PrizePicks' established foothold in daily fantasy sports.
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