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While politicians continue to debate Texas sports betting like it’s a state secret, PrizePicks has quietly moved its new prediction market service into Texas – and 47 other states.
The Atlanta-based fantasy sports operator recently became a registered Futures Commission Merchant through its subsidiary, Performance Predictions II, LLC, which allows the company to offer prediction markets under the Commodity Futures Trading Commission and the National Futures Association.
Best known for offering daily fantasy sports “pick’em games,” PrizePicks has now jumped into the prediction market (PM) industry. And with its massive population, the company hopes Texas becomes its crown jewel.
What’s available to Texans?
Pick’em games are unlike PMs in one major way: Instead of predicting whether Dak Prescott will have more or less than 250 passing yards, users make predictions on the outcome of games. Or predicting who will win an Academy Award, or whether inflation will rise in the next quarter.
These predictions are classified as trading “contracts,” which makes them a commodity as opposed to a sports betting wager. Think buying and selling stocks.
PrizePicks’ launch isn’t identical across the country. Texas is currently in the “sweet spot,” where almost every PrizePicks product is on offer. Here’s what is available to Texas residents:
- Team Picks (sports prediction markets): Instead of just guessing how many yards a player gets, you can actually buy a contract on the Dallas Mavericks to win the Western Conference or the Houston Texans to win their next matchup. As the probability of that event happening changes, the “price” of your contract fluctuates. It is available in 30 states. Most contracts are through Kalshi.
- Culture Picks: This product is available in Texas and the rest of the US except Nevada and Arizona. Texans can trade on the outcomes of the Oscars, the Grammys, and even major political elections. If you think a specific movie will win Best Picture, you buy into that market.
- Pick’em Arena (peer-to-peer DFS): This remains the bread and butter of PrizePicks. In Texas, the company operates a “peer-to-peer” version of their classic game. You build a lineup of player projections (more/less). Instead of playing against the “house,” you are grouped with other Texas players in a contest to see who has the most accurate picks.
Perfect timing
With the Super Bowl around the corner and the NBA and NHL seasons nearing the halfway mark, the timing of PrizePicks couldn’t be better for Texas fans looking to get a sweeter taste of the game.
While Texas politicians stay busy over-analyzing sports wagering and casino gambling, the rest of the world has found a wide-open world to explore.
If you are 18 or older and located within Texas, PrizePicks’ PMs are now open for business.
