PrizePicks Hires Ex-Regulator Amid Legal Challenges

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00:00you can also read about the very latest hire by prize picks very interesting new name that's into

00:06the fold here sam with all the controversy surrounding daily fantasy and these peer-to-peer

00:11games makes sense that some of these companies got to bring in somebody from legislature to

00:15fight their battles yeah absolutely prize picks is definitely beefing up right now with this big

00:22hire of todd grossman who's the former general counsel and the interim executive director of

00:27the massachusetts gaming commission which is pretty important because that is the strictest most

00:34active gaming commission out there they have like three meetings a week to discuss the most minute

00:39details and comb through everything they really put these sports books and daily fantasy operators

00:44over the grills so getting this guy who was their general counsel now to be in charge of public policy

00:50is huge for prize picks and it's also very interesting that he was involved in a case

00:56kind of against prize picks in massachusetts last year the attorney general in massachusetts came

01:03out and said he was preparing legal action against prize picks for what he believed was

01:08unlicensed sports betting again these uh player prop style parlays that are put into a sort of daily

01:15fantasy sports pick'em contest uh this was the guy they're hiring now to be in charge of their public

01:20policy was kind of overseeing this entire case while they were in massachusetts and even went as far to

01:25say that yeah there could be an overlap between the two it's something we monitor so on the one hand

01:30they're bringing in someone with a lot of experience on the other hand they're kind of pulling this guy

01:34away um from massachusetts which could potentially be taking action against them so that could be a

01:40little messy there but then you also have the california situation which we've talked about in the show

01:44several times the attorney general there just came out with an opinion that said what prize picks do is

01:49doing is illegal and what prize picks has done in response is kind of tweak their game but not left

01:55the state so um they're beefing up at a time when their biggest market looks to be a big threat to

02:01them when they really need to help shape public policy we've certainly seen these companies try to

02:05push bills across different states and not so successfully get that job done so hiring todd grossman

02:12a guy with a lot of experience and connections quite frankly in a big state should be a big help for

02:17them uh and probably not the last we're going to hear about a big hire from prize picks it seems

02:21like they're really gearing up for a lot of policy and lobbying now beyond just kind of working with

02:26regulators