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Field notes on tournaments, prize pools and competitive gaming.

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INDUSTRY LESSONS

What PrizePicks' Rise Teaches Competitive Gaming Platforms

Format, state-by-state regulation, peer-to-peer play and custody: four lessons from PrizePicks' growth for tournament platforms.

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LEGAL BASICS

Skill, Sweepstakes or Gambling? Where Paid Tournaments Fit

Prize, consideration and chance: how US law separates skill contests, sweepstakes and gambling, and what that means for paid-entry tournaments.

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EXPLAINER

Prediction Markets vs Prize Pools: How the Money Moves

How prediction markets price outcomes, how tournament prize pools and escrow work, and who holds the money until settlement.