PrizePicks Transitions to Nationwide Peer-to-Peer Daily Fantasy Contests

Published: Thu Aug 28 2025

Key Points

The transition to peer-to-peer comes after regulatory pressures
Focus on skill-based tournaments where players compete against each other
Mirrors move made by competitors like Underdog, Sleeper, and Betr

PrizePicks has completely focused on its peer-to-peer platform as of August 22, 2025. Known as PrizePicks Arena, this style of gameplay has players competing against other users instead of vs. the house. The move comes in response to regulatory pressures.

PrizePicks peer-to-peer breakdown

PrizePicks is now focusing on two peer-to-peer contests: PrizePicks Arena and Streaks.

PrizePicks Arena is where users enter contests where they compete against other players. There is an entry fee, and the player who gets the most picks correct will win a cash prize. For example, a contest could be held on a day’s slate of MLB games. Users can pick props like home runs, strikeouts, and total bases. Whoever had the most correct selections of over or under on the assigned pick would win the prize. PrizePicks collects a commission on each contest.

PrizePicks Streaks is a free-to-play feature in select states (CT, IA, LA, MD, MI, MS, NJ, NY, OH, and PA) where users compete against other players to try to pick consecutive correct selections on “More” or “Less” on a player. If they get 32 correct in a row, they can win $1 million in prizes.

When PrizePicks Arena was launched in January 2024 and PrizePicks Streaks in August of the same year, they were complementary features to the usual “against the house” offering. Now, PrizePicks has pivoted to peer-to-peer as its only style of play.

Shift to peer-to-peer shows regulatory compliance

Previously, PrizePicks had users building pick’ems, where they would combine two or more picks for a payout. It was described as daily fantasy sports, but effectively the exact same thing as placing a parlay at a sportsbook. This resulted in regulatory scrutiny in jurisdictions where online sports betting was not yet permitted, such as California.

Earlier this year, California Attorney General Rob Bonta issued a legal opinion that daily fantasy sports were illegal under state law. PrizePicks has since dropped pick’em contests to comply with regulatory pressures. Since California is a major market for them – contributing approximately 10% of overall revenue – they wanted to show quick compliance.

What this means for players

For users, the shift to peer-to-peer contests changes the experience. Instead of competing against a sportsbook-like operator with preset odds, players now face off directly against one another. This creates more of a skill-based competition, with outcomes shaped by how well users predict player performance relative to their peers.

While it may reduce the simplicity of pick’em parlays, it offers a fairer ecosystem that could attract more casual players and keep regulators at bay.

Daily fantasy sports competitors moving to peer-to-peer as well

PrizePicks’ competitors like Underdog, Sleeper, and Betr have shifted towards a peer-to-peer approach as well.

Underdog has removed its pick’em contests in California, offering a game called Champions, which is similar to PrizePicks Arena, where users construct a roster of 2-8 players, deciding if they go “Higher” or “Lower.” In Sleeper’s “Picks,” players compete against each other to see who gets more correct selections.

Betr has something completely different, offering skill-based games with Betr Arcade. This doesn’t involve sports picks, but puzzle-based games with influence from casino classics like blackjack.

It’s yet to be determined if PrizePicks, Underdog, or Sleeper will add a similar game feature to their own portfolio. If successful, peer-to-peer formats could reshape DFS into a more sustainable, regulator-friendly model nationwide.