Betr Acquires NFA-Registered Broker to Accelerate Prediction Market Entry
Betr has acquired a CFTC-registered introducing broker, allowing the company to fast-track plans to launch prediction markets powered by Polymarket.
Betr has acquired Ascent Capital Management Inc., securing National Futures Association (NFA) and Commodity Futures Trading Commission (CFTC) registration to fast-track its planned entry into the prediction market sector.
Through the acquisition, Betr becomes a CFTC-registered introducing broker (IB). That allows the company to distribute federally regulated event contracts through designated contract markets (DCMs). The company said the transaction will accelerate its plans and expects to launch prediction markets within the Betr super app later this year.
Betr plans to offer contracts tied to sports, politics, culture, and other events. The contracts will be integrated alongside its Picks, Sportsbook, Casino, and Arcade products through a single wallet and app.
In a press release, Joey Levy, Founder and CEO of Betr, said:
Prediction markets represent one of the most exciting evolutions in interactive entertainment and financial technology.”
“By securing IB registration through the acquisition of an established broker, we can now focus entirely on launching a seamless, compliant prediction markets experience powered by Polymarket.”
Introducing Brokers Accelerate Entry Into Prediction Markets
Introducing brokers can partner with federally regulated exchanges, such as Kalshi and Crypto.com’s derivatives platform, to offer event contracts to users. However, unlike futures commission merchants (FCMs), introducing brokers are not permitted to hold customer funds directly.
The acquisition allows Betr to bypass the often lengthy NFA application approval process. Fanatics used a similar strategy when it acquired Paragon Global Markets last year. That allowed it to become the first sports betting operator to launch prediction markets, beating DraftKings Predictions and FanDuel Predicts.
Betr had submitted an NFA membership application in October 2025, though the application remained pending for several months before the company pursued the acquisition route instead.
Ascent Capital Management has reportedly held IB registration since 2011 and provides existing compliance infrastructure that Betr said will support its expansion into regulated prediction markets.
Sports Betting and DFS Operators Continue Moving Into Prediction Markets
Betr joins a growing list of sports betting and fantasy sports companies entering the prediction market sector.
In addition to sports betting operators, such as DraftKings, FanDuel, and Fanatics, DFS operators have also increasingly entered the space.
PrizePicks secured FCM approval and entered the sector via a partnership with Kalshi in November 2025. In January, the company expanded its prediction market product into 48 states, offering sports event contracts in 35 states, plus Washington, D.C.
Meanwhile, Underdog partnered with Crypto.com in September 2025, then received FCM approval in January. The company currently offers event contracts in 36 states. In March, Underdog cut 20% of its workforce as part of its strategic pivot from DFS to prediction markets.
Gambling Insider delivers the latest industry news, in-depth features, and operator reviews that you can trust. Our team combines rigorous editorial standards with decades of specialized expertise to ensure accuracy and fairness. We are committed to delivering clear, impartial, and dependable coverage across the global gambling sector.
