NFA registry includes applicants tied to DraftKings, PrizePicks and others
According to the database of the National Futures Association (NFA), it appears DraftKings is back in the prediction markets market, as are two major fantasy sports operators, Underdog and PrizePicks, and sportsbook groups Fanatics Betting and Gaming.
Registration with the NFA is an important preliminary step in ultimately obtaining the regulatory approval and licensure necessary to be regulated as a futures and derivatives market by the Commodity Futures Trading Commission (CFTC).
NFA an important first step for CFTC-regulated firms
The NFA is a self-regulatory body, but approval requires a fair amount of vetting of both principals and key stakeholders. Approval signifies an adherence to ethical and legal principles by approved firms. It is also a necessary step in order to potentially get approved as a Designated Contract Market (DCM) by the CFTC.
There is no guarantee these groups are going to be venturing into prediction markets simply because they have requested to register with the NFA. However, it does indicate that the companies are at least keeping their options open as the legality of sports contracts is debated in the federal courts.
DraftKings tries again, this time as Gus III Holdings
DraftKings originally filed with the NFA as Gus II Holdings LLC in June 2024 with the intent to do business as DraftKings Predict. Once news of the listing became public knowledge, the filing with the NFA disappeared back in March.
On June 24, Gus III Holdings LLC applied with the NFA as an introducing broker and a swap firm. As with the previous registration, the phone number and address on the filing are the same as DraftKings’s Boston office. The group is seeking approval as a Swap Firm and an Introducing Broker.
The core principles of Gus III include current DraftKings CEO Jason Robins and co-founder Paul Liberman:
- Alan Wayne Ellingson: Director, Chief Financial Officer, Manager-LLC or LLP
- Jason Daniel Robins: Indirect Owner
- Jeanine Christie Hightower Sellitto: President, Chief Executive Officer
- Paul Liberman: Manager-LLC or LLP
- Robert Stanton Dodge: No Listed Title
Fanatics might have international aspirations
A group called Morton St. Trading OpCo filed with the NFA in May and appears to be tied to Fanatics Betting and Gaming. The Fanatics New York office is located on Morton St. and several stakeholders who hold roles with Fanatics, such as CFO Andrea Ellis and COO Scot McClintic. Unlike the other sports gaming operators reported on here, the Fanatics Betting and Gaming CEO Matt King is not among those listed as principals. The list of those who are is as follows:
Alex Bryant Smith: Head of a business unit division or function
Andrea Ellis: Chief Financial Officer
Joshua Slaff: Chief Compliance Officer
Scot McClintic: Chief Operating Officer
The May application included requests to be a Swap Firm and an Introducing Broker. On July 31, the company also added a request to be a Forex Firm, which is a group that a DCM would potentially need to involve if the firm wanted to operate on the foreign exchange market.
PrizePicks listed under Performance Predictions II
An entity called Performance Predictions II LLC is listed as a pending member of the NFA. While the company’s brand is PrizePicks, the fantasy sports organization actually is called SidePrize LLC and the legal name of the company behind the operation is Performance Predictions LLC.
The official name of the company behind PrizePicks is listed as an entity with more than 10 percent ownership in the business. It’s principles include many of the same core C-suite as well:
- Charles Laboy – Chief Compliance Officer
- David Adam Wexler – Indirect Owner
- Dylan Edward Cooper – Head of a Business Unit Division or Function
- Jason Ross Barclay – Head of a Business Unit Division or Function
- Marcus Edward Sanford – Chief Financial Officer
- Michael Anthony Ybarra – Chief Executive Officer
PrizePicks filed with the NFA on May 28 for NFA membership as well as status as a Futures Commission Merchant and a Swap Firm.
Underdog aiming to be both brokerage and swap firm?
Underdog CEO Jeremy Levine is listed as a principal on two different NFA applications. One, UDM LLC, is seeking swap firm and FCM approval, much like Performance Predictions. The application was filed on April 4 and lists Underdog’s Brooklyn office as its address. The filing also includes key stakeholders in Underdog, such as General Counsel Nick Green:
- Brandon Alan Stakenborg: Head of a Business Unit Division or Function Owner
- Dustin Tyler Cooper: Head of Business Unit Division or Function
- Jeremy Sholom Levine: Chief Executive Officer, Owner
- Julie Nina Pearlman: Chief Compliance Officer
- Kellan Paul Grenier: Head of a Business Unit Division or Function
- Nicholas Glenn Green: Head of a Business Unit Division or Function
- Rishi Garg: Chief Financial Officer
The other listing involves the same group, but under G&B Broker, which is seeking both swap firm approval and introducing broker approval. It was filed on April 24. Introducing brokers generally work with FCMs to help solicit trades and develop a customer base, while the FCM itself handles the actual trading.
All of the applications with the NFA are currently listed as pending.
https://sbcamericas.com/2025/08/20/draftkings-pp-ud-nfa/