Betr Secures CFTC Path for Prediction Markets

Betr has taken another step into the prediction markets sector after acquiring Ascent Capital Management Inc., a move that gives the company regulatory standing with the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA).

The company said the acquisition will support its plans to introduce prediction markets inside the Betr super app later this year. Through the transaction, Betr becomes a CFTC-registered introducing broker, allowing it to build out event contract offerings tied to sports, politics, culture, and other real-world outcomes.

Betr described the deal as an important milestone in its effort to combine multiple forms of real-money gaming inside a single platform.

“Prediction markets represent one of the most exciting evolutions in interactive entertainment and financial technology,” said Joey Levy, Founder and CEO of Betr, in the company’s press release via PR Newswire.

“Since starting Betr, we have built our business entirely around serving the modern sports fan at scale. This acquisition is another step toward our vision of creating the first true nationwide real-money gaming app.”

The company added that prediction market products powered by Polymarket technology are expected to sit alongside its Picks, Sportsbook, Casino, and Arcade products within one integrated wallet and application.

Acquisition Speeds Up Prediction Market Plans

Ascent Capital Management has been registered as an introducing broker since 2011. Betr said the company brings an established compliance framework that will support expansion into federally regulated event contracts.

The acquisition also allows Betr to avoid a lengthy registration process that would otherwise be required to secure introducing broker status independently.

According to the company, more than one million paying users currently use the Betr platform nationwide. Those users are expected to gain access to event contracts through the same application later this year.

Levy stated: “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. Our users will soon be able to engage with Picks, Sportsbook, Casino, Arcade, and Predictions all within a single integrated ecosystem.”

Betr first partnered with Polymarket earlier this year. The latest acquisition strengthens that relationship and positions the company to compete directly in the growing prediction markets category.

Prediction markets allow users to buy and trade contracts linked to future outcomes, including sports events and political developments. The sector has expanded rapidly in the United States as companies seek to operate under federal commodities oversight rather than traditional state gaming frameworks.

Prediction Markets Continue Drawing Scrutiny

Betr’s move reflects a broader shift happening across the gaming sector as operators explore federally regulated alternatives to state-by-state sportsbook licensing models.

Traditional sportsbook operators continue facing increasing costs in multiple states due to higher tax rates and tighter regulations. Prediction markets, meanwhile, operate under a different regulatory structure overseen by the CFTC.

The acquisition also arrives during ongoing legal and political disputes over prediction markets globally.

Argentina recently ordered Polymarket blocked and removed from app stores after authorities claimed the platform functioned as an unauthorized betting system. Brazil also determined that certain prediction market offerings violated local betting laws.

At the same time, Gibraltar recently licensed its first prediction market operator linked to sports events.

Betr originally built its brand around simplified sports betting products and player prop-style contests. The company was co-founded by Joey Levy and social media personality Jake Paul.

Industry observers view the Ascent Capital acquisition as part of a larger effort by Betr to broaden its offerings beyond traditional sportsbook and casino products.

The company said its prediction market products will eventually include contracts tied to sports, politics, and cultural events.

Ascent’s existing compliance infrastructure is expected to help support user protections and regulatory obligations as Betr enters the sector.

Betr has not disclosed financial details tied to the acquisition and has not announced a specific launch date for the prediction market rollout.