Editor’s note: This article has been updated to clarify a quote from Georgia, PrizePick’s valuation and Wexler’s involvement with The Hidden Jams.
A co-founder of fantasy giant PrizePicks is making a landmark investment in the University of Georgia to support the men’s basketball program in a competitive NIL era.
PrizePicks co-founder Adam Wexler pledged a $10 million donation to Georgia’s basketball team on Thursday, marking the largest philanthropic commitment ever for the school’s athletic department.
Wexler is making the investment as a Georgia graduate, with the goal of taking advantage of the NIL era, which allows donors to make significant monetary contributions to their favorite institutions.
“There has never been a more interesting time in the history of collegiate athletics for donors to make a difference, and I’d love for this to be the start of something much bigger for the Bulldog community,” said Wexler.
Georgia’s men’s basketball program will use Wexler’s donation in several ways:
- The donation supports operating expenses
- A portion will be allocated toward personnel expenses
- The Athletic Director Excellence Fund will also receive a fresh injection of capital
“This gift will leave a lasting impact on the athletic association and, specifically, the men’s basketball program,” said Georgia Athletic Director Josh Brooks. “We are deeply grateful for Adam’s extraordinary generosity and commitment to Bulldog Athletics. His investment will further elevate our program and continue to enhance the student-athlete experience.”
PrizePicks’ upward trajectory
Wexler’s guidance in transforming PrizePicks into one of the major players in U.S. commercial gaming began in 2014, when the company’s co-founders created fantasy league platform SidePrize, before expanding their portfolio with the launch of PrizePicks.
Wexler joined the founding teams after spending nearly four years leading software development company Insightpool as a founder and chief strategy officer.
Insightpool would eventually be acquired by TrendKite in 2018 for an undisclosed price.
Wexler and the PrizePicks team steadily grew PrizePicks into a fantasy platform serving markets across the U.S., leading to investor interest in 2020 with the closing of an $850,000 seed round led by Parlay Capital Holdings. PrizePicks continued to garner investor interest, with the company raising $8.6m in 2024 with the closing of a Series A round.
That year, Wexler made the decision to leave PrizePicks. In March 2026, he was named the CEO and chairman of The Hidden Jams, a 501(c)(3) nonprofit that provides music rankings and curated selections. The Hidden Jams also works collaboratively with Georgia’s music business program.
PrizePicks has continued to grow following Wexler’s departure.
Earlier this year, European lottery firm Allwyn acquired a 62.3% stake in PrizePicks. The deal gives PrizePicks an enterprise valuation of approximately $2.5 billion.
PrizePicks is diversifying its businesses under new ownership amid its registration as a futures commission merchant with the National Futures Association. The registration allows PrizePicks to offer event contract trading, but not supply the products.
PrizePicks partners with Polymarket to offer event contracts, including sports. The gaming company also has a multiyear partnership with Kalshi to offer event contracts in 38 states.
