The former Good Morning Britain presenter will instead be relaunching his Uncensored show as a YouTube-only endeavour.
The prime minister boasted about his love of spread-betting last year.
The prime minister has been condemned after agreeing to the £1,000 wager.
"Two rich men gambling over the lives of vulnerable, traumatised people," one person wrote.
The prime minister said he'd bring them down - they've gone up.
The media personality and the Republican lawmaker repeatedly butted heads over election denial, conspiracy theories and Donald Trump.
Prisclla Presley had already lost her grandson in 2020, and her mother in 2021, when her daughter died in January.
"It was worth Zooming in to see the expression on Piers Morgan’s face," the talk show host admitted.
The former Good Morning Britain anchor didn't exactly have the best night at the National Television Awards.
"Good Evening Britain."