Daily Fantasy Sports (DFS) News Recap

Underdog and PrizePicks Settle with New York State Gaming Commission
In March 2025, Underdog Fantasy agreed to a $17.5 million settlement, and PrizePicks agreed to a $15 million settlement with the New York State Gaming Commission for offering contests without the proper DFS license. bettingusa.com
Source: New York Daily Fantasy Sports Sites And DFS Apps
Underdog Pick’em Games Banned in New York
Also in March 2025, New York regulators prohibited Underdog’s pick-em contests from operating in the state, removing one of the operator’s most popular formats. actionnetwork.com
Source: Where Is DFS Legal? Tracking All 50 States
DFS Legal Status: Only Five States Prohibit Play
As of early June 2025, daily fantasy sports remain legal in all U.S. states except Hawaii, Washington, Nevada, Idaho, and Montana. deadspin.com
Source: Daily Fantasy Sports Legal States 2025
PrizePicks Receives DFS Operator Licenses in Delaware and Missouri
PrizePicks was awarded official operator licenses in Delaware and Missouri and will launch its peer-to-peer “Arena” contests in those states. prizepicks.com
Source: Newsroom | PrizePicks
PrizePicks Achieves NCPG iCAP Certification
In March 2025, PrizePicks became the first DFS operator to receive the Internet Compliance Assessment Program (iCAP) accreditation from the National Council on Problem Gambling. sbcamericas.com
Source: PrizePicks first DFS operator to receive NCPG’s iCAP certification

Underdog Fantasy Relaunches Draft-Style Games in New York
On May 15, 2025, Underdog resumed its draft-style DFS offerings under its temporary New York license, though its pick-em formats have not yet returned. news.worldcasinodirectory.com
Source: Underdog Fantasy Returns to New York with Draft-Style DFS Games
Underdog Raises Over $100 Million in Series C
Concurrent with its New York relaunch, Underdog closed a Series C round led by Spark Capital, tripling its valuation to $1.2 billion. news.worldcasinodirectory.com
Source: Underdog Fantasy Returns to New York with Draft-Style DFS Games
Underdog Introduces “Pick 8” Feature
On June 4, 2025, Underdog rolled out a new Pick 8 format that automatically double-flexes entries—allowing two misses—and offers up to 325× payout for an eight-for-eight perfect card. fantasylabs.com
Source: FantasyLabs: Underdog Fantasy Promo Code LABS
PrizePicks Launches “Arena” Peer-to-Peer Contests
PrizePicks has begun rolling out its Arena P2P product in both Delaware and Missouri, enabling head-to-head pick-em matchups in those markets. prizepicks.com
Source: Newsroom | PrizePicks
Betr Picks Debuts Advanced Pick’em Structure
Betr Picks, a Jake Paul–backed DFS app, now allows up to eight selections per entry with no pushes, offering up to 1,000× payouts and streamlining the pick-em experience. sportsgambler.com
Source: Betr Picks Review June 2025: Bonus, Payouts & Is It Legit?

Underdog’s $100 Million Series C Boosts Valuation
Led by Spark Capital, Underdog’s latest $100 million infusion triples its valuation to $1.2 billion, cementing its status as a top DFS startup. news.worldcasinodirectory.com
Source: Underdog Fantasy Returns to New York with Draft-Style DFS Games

PrizePicks Partners with San Diego Padres
PrizePicks announced a multi-year partnership with the San Diego Padres, featuring in-game promotions and fan giveaways throughout the 2025 season. sbcamericas.com
Source: PrizePicks Scores DFS Partnership with San Diego Padres
Niche DFS Platforms Gain Traction
Industry analysis highlights how specialized operators—PrizePicks, Underdog, and Betr—are challenging sportsbook-backed giants by focusing on pick’em formats, unique game mechanics, and state‐specific regulatory compliance. sccgmanagement.com
Source: The DFS Rebellion: How Niche Players Are Redefining The Market in 2025