PrizePicks started as a small Atlanta startup and grew into one of the most popular sports apps in America, with more than 10 million members. For years it was run mostly by its founders and a few early backers. In January 2026, a European lottery giant took control.
So who owns PrizePicks today? Here is the full, current answer, from the founders to the billionaire behind the new parent company.
Who Owns PrizePicks in 2026?
PrizePicks is majority-owned by Allwyn, a lottery and gaming group founded by Czech billionaire Karel Komárek. Allwyn bought about 62.3% of the company. The deal was announced on September 22, 2025 and completed in January 2026.
The remaining stake of roughly 37.7% stays with the founders, managers, and early investors. The exact split is not public. PrizePicks now runs as a standalone brand inside Allwyn, led by CEO Mike Ybarra.
PrizePicks Ownership at a Glance
| Owner / Party | Role | Stake | Key Detail |
|---|---|---|---|
| Allwyn | Majority owner | ~62.3% | Deal announced September 2025, completed January 2026; ~$1.6 billion initial cash |
| Karel Komárek (KKCG) | Controlling owner of Allwyn | Indirect control | Czech billionaire; founder and chair of Allwyn and KKCG |
| Founders, management & early investors | Minority owners | ~37.7% combined | Exact split undisclosed; eligible for up to ~$1 billion in performance payments in 2029 |
| Mike Ybarra | CEO | Not disclosed | Former Blizzard Entertainment president; CEO since August 2024 |
| Adam Wexler | Co-founder and board member | Not disclosed | Founded the company in 2015; stepped back from day-to-day work |
| Jay Deuskar | Co-founder and CTO | Not disclosed | Georgia Tech graduate who built the early product |
| Matt Ryan | Early investor | Undisclosed | Joined the cap table in a 2021 funding round |
| Public shareholders | Indirect owners | Through Allwyn only | PrizePicks itself is not listed; Allwyn trades in Athens (ALWN) |
What Is PrizePicks?
PrizePicks is a daily fantasy sports platform. Players pick whether an athlete will go “more” or “less” than a projected stat, like points or yards. It covers leagues such as the NFL, NBA, MLB, and NHL.
It is not a traditional sportsbook. It is a pick’em-style fantasy game, and that difference lets it operate in some states where regular sports betting is illegal. The company is based in Atlanta, Georgia, and most people use it as a sports picks app on their phones.
Who Founded PrizePicks?
Adam Wexler came up with the idea in late 2014. He teamed up with Jay Deuskar, and the pair launched the business in Atlanta as PredictPicks. Most sources date the founding to 2015, though the company’s own site lists 2017.
Wexler is an Atlanta native and a University of Georgia graduate. Before the Allwyn deal, PrizePicks raised only about $10 million in disclosed outside funding, which is tiny for a company this big. A 2021 round added former Atlanta Falcons quarterback Matt Ryan and several sports executives.
How Allwyn Bought PrizePicks
Allwyn announced the deal on September 22, 2025. It paid about $1.6 billion in cash for the 62.3% stake, which valued PrizePicks at roughly $2.5 billion. SBC News reported that Allwyn completed the majority takeover in January 2026. The companies said PrizePicks had no outstanding debt at closing.
The sellers can also earn up to about $1 billion more in 2029 if PrizePicks hits targets between 2026 and 2028. If that happens, the deal’s implied value could reach $4.15 billion.
Allwyn said PrizePicks grew revenue about 60% in the 12 months to June 2025, with adjusted EBITDA of $339 million, according to iGaming Business.
Who Is Allwyn?
Allwyn runs the UK National Lottery, which it took over in 2024. It also operates lotteries in the Czech Republic, Austria, Italy, and Greece. Its roots go back to Czech lottery company Sazka, which Komárek’s investment group, KKCG, took over in 2012.
On March 24, 2026, Allwyn finished merging with Greek lottery operator OPAP. The combined company, Allwyn AG, is listed on the Athens Stock Exchange and calls itself the second-largest listed lottery and gaming operator in the world. Under the merger terms, KKCG holds about 85% of the voting rights.
Who Runs PrizePicks Today?
Mike Ybarra has been CEO since August 2024. He came from the video game world, where he was president of Blizzard Entertainment. Sportico reported that he replaced Wexler, who moved to executive chairman.
Wexler later stepped away from daily work. The Atlanta Journal-Constitution reports that he remains on the board. Allwyn said the existing leadership team would stay in place after the deal.
PrizePicks and the Prediction Market Push
PrizePicks is moving beyond fantasy contests. It received a futures commission merchant registration from the NFA, which lets it offer products tied to markets overseen by the CFTC. The new venture does business as PrizePicks Predict, as Yahoo Sports covered. CEO Ybarra said PrizePicks was the first sports entertainment platform to earn that registration.
This puts PrizePicks in the same arena as Kalshi and Polymarket. By late 2025, several states, including Nevada, New Jersey, Maryland, and Massachusetts, had taken legal action against prediction markets, most notably Kalshi.
State Rules and Legal Battles
PrizePicks has faced pushback from regulators for years. Florida sent a cease-and-desist letter in September 2023 and ordered it to end pick’em games in the state by February 2024. New York regulators fined the company $15 million for operating without a license.
PrizePicks has since gone the licensed route in New York. It won a gaming license in October 2025 for a peer-to-peer product and relaunched in the state in February 2026.
How PrizePicks Compares With DraftKings and FanDuel
DraftKings and FanDuel are full sportsbooks as well as fantasy sites. DraftKings is publicly traded, while FanDuel is fully owned by Flutter Entertainment.
PrizePicks is smaller in scope but growing fast. Its Allwyn deal gives it the backing of a global lottery group, and its leaders say they want to keep the brand’s culture and speed.
Atlanta Roots and Sports Partnerships
PrizePicks opened a new 33,000-square-foot headquarters in Atlanta in 2024. It planned to add about 1,000 jobs over seven years. The company also has a marketing partnership with State Farm Arena, the home of the Atlanta Hawks.
Football is a big part of its audience. Its picks cover every season of the NFL, one of its core sports.
Is PrizePicks Publicly Traded?
No. PrizePicks is not listed on any stock exchange. You cannot buy its shares directly. The only public route is Allwyn AG, the parent company, which trades in Athens.
Frequently Asked Questions (FAQs)
Q1. Who owns PrizePicks in 2026?
Allwyn owns about 62.3% of PrizePicks, and the founders, management, and early investors hold the rest.
Q2. When did Allwyn buy PrizePicks?
The deal was announced on September 22, 2025 and completed in January 2026.
Q3. How much did Allwyn pay for PrizePicks?
It paid about $1.6 billion in cash for the 62.3% stake, valuing PrizePicks at roughly $2.5 billion.
Q4. Who founded PrizePicks?
Adam Wexler and Jay Deuskar founded it in Atlanta, most sources say in 2015.
Q5. Who is the CEO of PrizePicks?
Mike Ybarra, a former Blizzard Entertainment president, has been CEO since August 2024.
Q6. Who owns Allwyn?
Allwyn is controlled by Czech billionaire Karel Komárek through his investment group KKCG.
Q7. Is PrizePicks publicly traded?
No, but its parent company Allwyn AG is listed on the Athens Stock Exchange.
Q8. Is PrizePicks a sportsbook?
No, it is a daily fantasy sports platform with pick’em-style games, now expanding into prediction markets.
PrizePicks is majority-owned by Allwyn, which bought about 62.3% in a deal completed in January 2026. Allwyn is controlled by Czech billionaire Karel Komárek through KKCG. The founders, managers, and early investors still hold the remaining stake.
Mike Ybarra leads the company, and Adam Wexler remains on the board. With a $2.5 billion deal value, a new prediction market arm, and a large parent behind it, PrizePicks is entering the most important chapter in its history.
Official Website: prizepicks.com
