NFL free agency is off and running, and in the first 24 hours, we’ve seen almost all of the top players come off the board and sign new deals. There have been plenty of winners and losers, with teams like the Tennessee Titans and Las Vegas Raiders spending big, while teams like the Philadelphia Eagles and Green Bay Packers seem to be on a tight budget.

While everyone’s talking about the real life winners and losers, we’re going to talk fantasy football. These players saw their fantasy stock rise or fall based on the early free agency window.

Winner: WR Alec Pierce

Alec Pierce just inked a massive four-year, $114 million deal to stay with the Indianapolis Colts. But that’s not the only reason he’s a winner. The Colts also traded Michael Pittman to the Pittsburgh Steelers, opening the door for Pierce to become their uncontested WR1.

Pierce has been used as a deep threat for his entire career, but he proved he can be more than that in 2025. With AD Mitchell and Michael Pittman gone, there only thing standing in the way of Pierce having a massive season is himself (and Daniel Jones’ Achilles).

Loser: RB Alvin Kamara

Alvin Kamara hasn’t been the same running back he was early in his career for some time now, but his receiving upside has always made him fantasy relevant. Now, with the New Orleans Saints signing Travis Etienne, he is certainly a loser from free agency.

Etienne can do many of the same things Kamara did. He’s a solid runner, but he’s also a really good receiver and should eat into Kamara’s touches in both the run and pass game. A lot of people are hoping Kamara gets traded, but he’s expressed multiple times that he has no interest in playing for anyone but the Saints.

If Kamara plays football next year, it will be in New Orleans, but even if he does play, he won’t see nearly the same volume as he’s seen in the past.

Winner: RB Kenneth Walker

Despite Kenneth Walker clearly being the better runner, the Seattle Seahawks were keen on having Zach Charbonnet steal a boatload of Walker’s touches and touchdowns. It severely hurt his fantasy value, but he showed what he can do when he’s the true RB1 in the playoffs.

Now, Walker lands with Kansas City, where he is the clear-cut No. 1 option. There is no competition in that backfield, and the Chiefs are going to run him for all he’s worth. In recent years, the Chiefs’ offense has shifted towards a more run-heavy offense than it’s been in the past, and now they finally have someone who can shoulder a massive workload. He’s easily one of the biggest fantasy winners from free agency.

Loser: RB Kaleb Johnson

When the Steelers drafted Kaleb Johnson in the third round of last year’s draft, the hope was that he could come in and compete with Jaylen Warren for the RB1 spot, but that has not happened. Instead, he has been relegated to RB3 after the Steelers signed Rico Dowdle on Monday. He was a first-round pick in some dynasty rookie drafts, and now it’s hard to find a reason to keep him on your roster.

Winner: WR Romeo Doubs

Romeo Doubs was a solid receiver in Green Bay, but he never put up more than 750 yards in a single season. He was probably the best wideout the Packers had, but they didn’t use him as such. Now, after signing a four-year deal with the New England Patriots, Doubs’ fantasy value should sky rocket.

With Stefon Diggs gone, Doubs has a clear path to being the WR1 in New England…At least for now. We’ll see what other additions they make, but even if they bring in an A.J. Brown or draft a first-round wideout, he should see more targets than he did in Green Bay. Plus, he has a better quarterback now.

Loser: Garrett Wilson

Garrett Wilson has been stuck in quarterback hell for his entire career, and now he has to play with Geno Smith. I know he didn’t have much help in Las Vegas, but he was one of the worst quarterbacks in the league last year with a 19-17 TD to INT ratio. He’s probably better off this year than he was last year with Justin Fields, but considering there were QBs like Malik Willis, Kyler Murray, Kirk Cousins and even Tua Tagovailoa available, and they went with Smith, it doesn’t make me feel great about Garrett’s fantasy outlook for 2026.

Winner: WR Wan’Dale Robinson

Wan’Dale Robinson had an excellent 2025 season, where he topped 1,000 yards for the first time in his career. He and Jaxson Dart build a great connection, but there was always the looming threat of Malik Nabers returning in 2026. But now that he’s gone and signed a big deal with the Tennessee Titans, his fantasy outlook is looking much better.

Robinson will enter the offseason as the Titans’ WR1. Elic Ayomanor and Chimere Dike are fun options, but Robinson has proven he can lead a receiving room with 92 catches last season. He’s going to be Cam Ward’s best friend, and it should result in a boatload of targets and catches.

Loser: RB Trey Benson

Trey Benson had a clear path to take over as the Arizona Cardinals’ RB1. James Conner was coming off a major injury, so it looked like his time in Arizona had expired, but then they re-signed him. That’s fine, it’s not like they added a young guy in free agenc-oh, wait, they did?

The Cardinals signing Tyler Allgeier tells me one thing: the Cardinals don’t trust Conner and Benson, who both suffered injuries last season, to stay healthy. Even if Benson splits carries with Allgeier, which is probably best case scenario, his fantasy outlook is a lot more bleak than it was just a week ago.

Winner: RB Ashton Jeanty

Ashton Jeanty didn’t get to put his full talents on display last season because the Las Vegas Raiders’ offensive line was so bad. They haven’t made any big changes at guard or tackle, but they did go out and sign Tyler Linderbaum, one of the best centers in the league, to a massive deal. He will instantly improve their run game, so Jeanty shouldn’t be getting hit two yards behind the line of scrimmage every play.

Also, with Fernando Mendoza coming in and the Raiders looking to add some more talent out wide (as they did with Jalen Nailor), the Raiders’ pass game should be much improved next season, which will then open things up on the ground.

Things are looking up for Jeanty after a tough rookie season.