PrizePicks Becomes the First Sports Entertainment Operator to Receive FCM Registration from the NFA

PrizePicks has announced that Performance Predictions II LLC, a subsidiary of its parent company, SidePrize LLC, has become the first company affiliated with a fantasy sports operator to be registered as a Futures Commission Merchant (FCM) by the National Futures Association (NFA). This designation allows PrizePicks to accept orders from its members to buy and sell futures contracts offered by Designated Contract Markets (DCMs) that are regulated by the Commodity Futures Trading Commission (CFTC).

“The honor of being the first sports entertainment platform to receive a FCM registration from the NFA is a testament to our industry-leading compliance and consumer protection programs that both the NFA and CFTC demand. Acting Chairman Caroline Pham’s vision for the CFTC promotes innovation while reinforcing the importance of strong regulatory standards. Her leadership has set a thoughtful tone for the agency and our industry,” said Mike Ybarra, CEO of PrizePicks.

Jason Barclay, Chief Legal Officer and Head of Public Policy for PrizePicks, said: “As the nation’s leader in predictions, this is a defining moment for us. We are grateful to the NFA for its thoughtful process and diligent work on our application.”