Betr acquired an introducing broker to gain access to the prediction market industry.
Key Takeaways
- Betr doesn’t have to wait to have its registration approved.
- The gaming operator plans to add event contracts, including sports, on its single-wallet super app this year.
- Its CEO called the acquisition “another step toward our vision.”
The social sports betting and daily fantasy operator cofounded by boxer and social media influencer Jake Paul announced a deal with Ascent Capital Management (ACM), which is already registered with the National Futures Association (NFA) and the Commodity Futures Trading Commission (CFTC).
Betr had already announced plans to enter the derivative trading space with a multi-year partnership with Polymarket in March.
Terms of the ACM acquisition were not made public, but its status as an introducing broker allows Betr to bypass necessary NFA approval if it wants to offer contracts on its own. Through ACM’s introducing broker registration, Betr can offer Polymarket’s sports and other event contracts in 2026 on its single-wallet super app, adding to its Picks, Sportsbook, Casino, and Arcade products.
“Prediction markets represent one of the most exciting evolutions in interactive entertainment and financial technology,” said Joey Levy, cofounder and CEO of Betr. “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.”
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Later this year
Prediction market sites are regulated by the CFTC, allowing trading exchanges to operate in 50 states. Betr had applied for NFA membership in October 2025, which would’ve allowed the operator to eventually offer its own event contracts.
However, after waiting seven months for approval, the company acquired ACM to bypass the designed market contracts approval process.
“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,” Levy said.
Betr didn’t offer a specific launch date but said it plans to begin offering contracts on sports, politics, culture, and more “later this year” to a million paying users.
Crowded space
The gaming operator enters a competitive space. Major sports betting brands DraftKings, FanDuel, and Fanatics launched prediction market platforms in late 2025. Kalshi is established as one of the most popular global contract trading exchanges, along with Polymarket.
Coinbase, Crypto.com, and Robinhood are also in the space. DFS operators PrizePicks and Underdog offer sports contracts on their apps as well.
While the prediction market industry has exploded through sports contracts over the last 15 months, many trading exchanges have been met with legal pushback from states that regulate legal sports betting.
Legal issues
Several lawsuits are pending across more than a dozen jurisdictions, and in other prediction market news, Minnesota recently enacted a new law to make offering contracts illegal. The CFTC sued the state to block punitive measures from being taken.
FanDuel and DraftKings have dodged legal battles by not offering sports event contracts in states where they are licensed to operate sports betting. Betr used to hold sportsbook licenses in Massachusetts and Virginia but left the regulated industry to focus on other products.
