PrizePicks Suspends Missouri ‘Team Picks’ Sports Event Contracts

• PrizePicks announced its “team picks” sports event contracts have been suspended in Missouri
• Notifications of the decision were sent to users in the Show-Me State
• PrizePicks says the decision is due to “updated legal requirements for prediction markets in Missouri.”

PrizePicks today announced to customers that it has suspended its popular “team picks” sports event contracts in Missouri.

The sports event contract markets will no longer be available in the Show-Me State, as PrizePicks informed customers in a notification that the decision is “due to updated legal requirements for prediction markets in Missouri.”

The Missouri Attorney General recently sent out six cease-and-desist notices to prediction market operators in the state, but did not send a notice to PrizePicks.

Sports Event Contracts Suspended Immediately

PrizePicks informed users of the suspension today, assuring them that all “funds remain safe” and can be withdrawn at any time. However, the company will accept no new team picks for users located in the state of Missouri.

However, any previously submitted team picks will remain active and winning picks will pay out to customer balances when the market closes.

“If you travel to, or are currently located in, a state where PrizePicks operates, you will have full access to all available game modes in that state,” the PrizePicks notification reads.

PrizePicks “team picks” have individual contract prices, which serves as a single purchasing unit for a pick. The contract price fluctuates between $0 and $1.00 each, depending on the popularity of a particular outcome, the company notes in its description of the markets. PrizePicks team picks are currently live in 34 states.

PrizePicks culture event contracts still remain in Missouri.

Missouri AG Sends C&Ds to Operators

Missouri Attorney General Catherine Hanaway recently reported her office sent cease-and-desist notices to six prediction market companies operating in the state. PrizePicks, however, was not one of the operators to receive a notice.

The attorney general’s office sent cease-and-desist notices to Kalshi, Polymarket, Robinhood, Underdog, Novig, and Crypto.com to prohibit unlicensed trades of sports event contracts in the Show-Me State.

“Missourians voted for a safe, well‑regulated sports wagering market that supports public education and addresses problem gambling. Companies cannot repackage sports bets as ‘event contracts’ to avoid Missouri law. We will enforce the rules voters approved and protect consumers,” Hanaway said in a press release. “Any company that wants to offer sports wagering in Missouri must be licensed by the Missouri Gaming Commission, pay the required taxes and fees, and ensure no one under 21 can place a bet.”