PrizePicks Bolsters Regulatory Compliance with Key Hire
Daily fantasy sports (DFS) provider PrizePicks has strengthened its commitment to regulatory compliance with the appointment of Todd Grossman as its new Director of Gaming Regulatory Compliance. This strategic move coincides with the company’s expansion across the United States, a market currently navigating the complexities of grey market operations, including sweepstakes and predictive gaming.
Grossman brings a wealth of experience to the role, spanning over two decades in the legal field. His career began in 2000 as an Assistant District Attorney at the Middlesex District Attorney’s Office. He subsequently served as an Associate at Morrison Mahoney LLP before joining the Massachusetts Department of Public Safety as Deputy General Counsel in 2006.
## A Transition to Gaming Regulation
Grossman’s entry into the gaming industry commenced in 2012 with his appointment as Deputy General Counsel for the Massachusetts Gaming Commission. Over the next thirteen years, he steadily ascended through the ranks, ultimately holding the positions of General Counsel and Interim Executive Director, the latter assumed in August 2020. His extensive involvement in shaping gaming, racing, and sports betting regulations in Massachusetts will be invaluable to PrizePicks.
His new role will involve overseeing licensing, navigating public policy, and ensuring the company’s adherence to all applicable regulations. This appointment underscores PrizePicks’ dedication to responsible and compliant operations within a rapidly evolving regulatory landscape.
## Industry Recognition and Future Outlook
PrizePicks’ commitment to regulatory compliance is further highlighted by its achievement in March as the first DFS operator to receive iCAP certification.
In a LinkedIn post, Grossman expressed his enthusiasm for joining PrizePicks, emphasizing the company’s positive work environment and dedication to ethical practices. He highlighted the team’s collaborative spirit and commitment to innovation within the industry.
This strategic hiring is not an isolated incident. The trend of grey market operators recruiting experienced regulators is gaining momentum. For example, earlier this year, a significant player in the predictive markets hired a regulatory veteran to its team. This demonstrates a growing industry awareness of the importance of regulatory expertise and compliance.
