iGaming Weekly Recap (August 25–31, 2025): Will PrizePicks Be the Target of a High-Profile Acquisition?

European lottery and gaming giant Allwyn is the leading contender to acquire daily fantasy sports operator PrizePicks in a deal valued at approximately $2 billion. This acquisition would enable Allwyn, a major player in the European market, to make a significant entry into the U.S. digital gaming market. The rumored acquisition follows PrizePicks’ strategic shift in its business model. The company has ceased offering “against-the-house” games and transitioned to a peer-to-peer (P2P) format called “Arena,” where users compete against each other. While PrizePicks claims this change is driven by user demand, it also aims to provide the company with a stronger legal foundation amid regulatory scrutiny. PrizePicks is an attractive target due to its market position, high valuation, and proactive regulatory strategy.

bet365 launched its mobile sportsbook in Maryland, becoming its 15th U.S. state of operation. The Maryland Lottery and Gaming Control Agency (MLGCA) approved its license on August 28, 2025. Maryland is a competitive market, with bet365 being the 12th legal mobile sportsbook, competing with giants like FanDuel and DraftKings. Additionally, the state raised its sports betting revenue tax rate from 15% to 20%. The Maryland launch marks bet365’s second new state in August and fourth since March, signaling an accelerated expansion strategy. bet365 adopts a methodical approach to the U.S. market, focusing solely on mobile betting without operating retail sportsbooks. The company plans further growth, including a launch in Missouri on December 1, and has joined the Sports Betting Alliance (SBA), strengthening its position in the U.S. market.

FanDuel is launching a new peer-to-peer (P2P) fantasy sports game called “FanDuel Picks” just ahead of the NFL season. The game features a simplified “over/under” format, where users build lineups of three to six athletes and predict whether they will perform “over” or “under” a projected stat line. Players compete against each other for a share of the prize pool, with potential winnings up to 1,000 times the entry fee. The P2P model is considered more legally sound amid evolving DFS regulations. FanDuel Picks is available in 17 states, including Alabama, Georgia, Minnesota, Texas, and Wisconsin, with a promotion for new users offering $60 in bonus funds for a $5 entry.

The Ohio Casino Control Commission (OCCC) issued a direct warning to its licensed sports betting operators, stating that any ties to sports-related prediction markets could jeopardize their state licenses. The Commission explicitly classified offering “event contracts” tied to sports as unlicensed and illegal online gambling in Ohio. The warning applies not only to independently launching prediction market platforms but also to partnerships with existing firms in the sector. The OCCC stated that such business relationships undermine the licensee’s reputation and the integrity of sports betting in Ohio. Even geofencing Ohio residents from these offerings may not resolve issues related to license suitability assessments. This stance aligns with the OCCC’s history of proactive regulatory actions, having previously issued cease-and-desist orders to platforms like Kalshi, Robinhood, and Crypto.com regarding sports contracts.

Donald Trump Jr. has joined the advisory board of prediction market platform Polymarket as a strategic advisor. Simultaneously holding a paid advisory role at Kalshi, Polymarket’s direct competitor, makes this an unusual situation in the industry. Trump Jr.’s firm, 1789 Capital, has also made a significant investment in Polymarket. This move comes as Polymarket, the largest global prediction market, prepares to re-enter the U.S. market as a regulated entity after acquiring a CFTC-licensed derivatives exchange. His involvement underscores the growing competition and debate surrounding prediction markets, particularly in the context of elections.