PrizePicks, a popular operator of online fantasy sports contests, will pay a nearly $15 million penalty and cease operations in New York after operating without authorization, according to a settlement with the state Gaming Commission.

The Times Union reported on Feb. 4 that PrizePicks did not have a permit to operate interactive fantasy sports in New York.

Jason Barclay, chief legal officer and head of public policy for the company, told the Times Union at the time that the company had filed an application for a permit.