Daily Fantasy Sports (DFS) News Recap

Legal & Regulatory

• 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

📱 Product & Innovation

• 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?

🚀 Startups & Funding

• 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

📈 Competitive Moves

• 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