Headquartered in Atlanta, PrizePicks has encountered contentious legal issues due to its distinction as a DFS operator, as opposed to a sportsbook.

[3][4] The Chicago Tribune has written that PrizePicks is a DFS operator specifically, "rather than a sportsbook" or "a traditional sports betting site".

[3] On February 1, 2024, the company announced a marketing partnership with the Stephen A. Smith Show, hosted by the titular sports media personality.

The company partnered with Kindbridge Behavioral Health in order to provide free assistance to users experiencing problem gambling issues.

[2] However, in April, PrizePicks re-entered the state's DFS market with a peer-to-peer contest format, which features "skill-based competitions where outcomes are determined by players' decisions, not by odds from the operators".

[23] PrizePicks dubbed their peer-to-peer contest as "Arena", with the format complying with Florida's law on gambling.

[24] The $15 million figure was based on revenue PrizePicks garnered from the purported IFS bets placed by New York-based bettors from June 4, 2019, through December 19, 2023.