Daily fantasy sports company PrizePicks is leaving Canada, a spokesperson confirmed to Covers on Tuesday.
Key Takeaways
- PrizePicks told Canadian customers through an email that major changes will occur March 10.
- Users of the DFS product have until April 2 to withdraw all funds.
- PrizePicks has been offering its products in all Canadian provinces except Ontario.
The Atlanta-based operator informed customers of the change through email earlier Tuesday, citing a “difficult decision” to pause DFS contests in Canada.
“On March 3rd, PrizePicks announced its planned exit from the Canadian market,” the PrizePicks spokesperson said. “We are currently hyperfocused on our continued expansion across the U.S. and delivering the best product experience for our players.”
PrizePicks won’t allow users to set new lineups or deposit funds after March 10, per the customer email. Customers must withdraw funds from their accounts by April 2, and all operations in Canada will shut down the next day. Customers are asked to contact Live Support if they have any questions.
“The PrizePicks team thanks you for playing,” the company said in the customer email.
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U.S. focus
PrizePicks has been operating in all provinces except Ontario, where gaming is licensed and regulated. In the U.S., PrizePicks offers some form of its products in all 50 states. Player picks are available in 36 states, with New York recently being added.
PrizePicks Predicts, powered through a partnership with federally regulated trading exchange Kalshi, is live in 35 jurisdictions, including California, Texas, and Georgia, where sports betting isn’t legal and regulated.
The announcement comes a day after DFS rival Underdog laid off 125 employees as the company transitions more into prediction markets.
New landscape
While PrizePicks has not said its decision to stop operating in Canada is related to its prediction market product in the U.S., the company ventured from a prop-style operator to adding contract trading on sports, entertainment, and culture in late 2025.
PrizePicks, which is valued at over $2 billion, told Covers last year that it planned to expand its offerings beyond sports shortly after lottery operator Allwyn acquired a majority stake in the company in September 2025.
Prediction markets have burst on to the scene over the last year, offering sports contracts that are similar to traditional sportsbook odds and spreads. That hasn’t come without controversy, but U.S. companies are ramping up their focus on trading exchanges. Sports betting brands DraftKings, FanDuel, and Fanatics all launched prediction market platforms in late 2025.
