Three days ago, PrizePicks announced it was partnering with Polymarket to begin offering prediction markets through its DFS platform. In an appearance on CNBC Tuesday morning, PrizePicks CEO Mike Ybarra said that its prediction market product would launch “this week,” even though Polymarket has yet to relaunch its own platform in the U.S.
Today, PrizePicks announced its prediction markets are now live. But instead of Polymarket, the event contracts are being powered and processed by its top competitor, Kalshi.
A spokesperson for PrizePicks confirmed to Prediction News that the company plans to work with both Kalshi and Polymarket for its prediction offerings.
“We also announced a partnership with Polymarket earlier this week and look forward to working with them once they resume operations in the U.S.,” the representative said. “As the only sports entertainment operator to have an FCM license, we feel well positioned and look forward to working with multiple DCMs.”
TEAM AND CULTURE PICKS ARE ROLLING OUT 💪
Pick who will win tonight’s game, the league championship, or even the MVP and earn money if you’re right
Tap Team or Culture Picks in the Pick Types menu and start calling your shots 🔥 pic.twitter.com/8KzkkWlXzz
— PrizePicks (@PrizePicks) November 14, 2025
Kalshi, Polymarket powering FCM event contracts together for first time
Retail broker Robinhood has partnered with multiple entities with Designated Contract Maker (DCM) status from the Commodity Futures Trading Commission (CFTC), including Kalshi and Interactive Brokers’ ForecastEx, to power the popular prediction markets offered on its platform.
And some companies have been involved with different kinds of partnerships with both Kalshi and Polymarket, including the NHL and X. But this is the first time that a platform has announced plans to have both of the industry’s heavy hitters involved in facilitating its prediction markets.
PrizePicks’ Performance Predictions II, LLC is approved by the CFTC as a Futures Commission Merchant (FCM), which allows them to partner with any DCM (or DCMs) to provide prediction markets.
PrizePicks’ sports markets available in states without sports betting
PrizePicks’ multi-year partnership with Kalshi will allow the company to legally expand into all 50 states. Previously, its DFS contests have been available in some form in 44 states due to some state restrictions regarding fantasy contests.
PrizePicks offers different kinds of DFS products in different states, also due to the state regulations. Where real-money Pick’Em contests aren’t permitted, PrizePicks offers its free-to-play games.
Similarly, PrizePicks’ prediction markets differ from state to state, according to the map on its website. The company says its new prediction markets are available in some form in 38 states and Washington, D.C.
In Ohio, for example, users can only access the “Culture Picks” event contracts, which include everything from music, movie, and TV markets to ones for financial, business, and political occurrences. Ohio has been one of a few states that have made their opposition to sports event contracts known via a warning letter to iGaming operators in the state. So PrizePicks is being cautious and not offering its “Team Picks” markets in the Buckeye State.
For the Team Picks, PrizePicks’ sports event contracts, users can trade on game winners, spreads, and totals for games in various sports. PrizePicks’ sports prediction markets are available in 15 states, including ones that haven’t yet legalized sports betting, like Texas, Alaska, Georgia, Idaho, and Oklahoma.
Kalshi plays up PrizePicks involvement on social media
In perhaps a bit of competitive jousting, with the announcement coming so soon after news of the Polymarket deal surfaced, Kalshi posted about the PrizePicks deal on social media by noting, “All event contracts listed on PrizePicks are Kalshi markets.”
Trade prediction markets on @PrizePicks
Sports. Movies. Music. Politics. Economics. And so much more are now live.
All event contracts listed on PrizePicks are Kalshi markets. pic.twitter.com/azleTUIFit
— Kalshi (@Kalshi) November 14, 2025
In the press release announcing the launch and partnership, Tarek Mansour, co-founder and CEO of Kalshi, called the deal a game changer and also noted Kalshi was “the first” to launch event contracts through PrizePicks.
“As of today, people will be able to access Kalshi’s prediction markets within the PrizePicks app,” Mansour said. “This is a game-changing moment, and we’re excited to be the first to fuel and supercharge the PrizePicks fan experience.”
