Betr Closer to Launching Prediction Markets After Broker Acquisition

Real-money gaming app Betr, co-founded by social media personality Jake Paul, has acquired Ascent Capital Management in a move that will grant it access to National Futures Association (NFA) and Commodity Futures Trading Commission (CFTC) registration as it prepares to launch prediction markets on its app. 

The acquisition makes Betr a CFTC-registered introducing broker, allowing the company to move further into the regulated sector and compete with the best prediction markets. Ascent Capital Management has held its broker registration since 2011, and according to Betr, it will provide the compliance infrastructure needed to support the expansion into event-based contracts.

Betr said users will eventually be able to access contracts tied to sports, politics, culture, and other events through the same wallet and app interface currently used for its other services. According to Betr's founder and Chief Executive, Joey Levy, the acquisition was part of the company’s effort to build a nationwide real-money gaming platform. 

"Prediction markets represent one of the most exciting evolutions in interactive entertainment and financial technology," he said. "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. “

Levy added, “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 was founded in 2022, starting with its fantasy sports product, Betr Picks, in 2023, before expanding to include a sportsbook and arcade in 2025. Earlier this year, the operator also launched its social casino. 

Betr and Polymarket partner on prediction market integration

In addition to its acquisition of Ascent Capital Management, Betr entered a multi-year partnership with Polymarket earlier this year to integrate prediction markets into its app.

Under the agreement, Polymarket will provide the prediction market infrastructure, while Betr will handle user access and integration within its existing platform. Users will be able to trade event contracts on sports, politics, and cultural topics through the same app used for the company’s other gaming products.

Levy said the partnership forms part of Betr’s plan to expand its nationwide product offering through prediction markets, which operate under federal CFTC oversight rather than state-by-state gaming regulation.

"Emerging companies like Betr can launch nationwide and kind of have the optionality to either do so via prediction markets or some of these other verticals or some combination of all of them," Levy said. "Our super app strategy bodes really well to this."

The partnership comes as several companies move further into prediction markets and event contracts, including Robinhood and Crypto.com, which have launched or expanded prediction market products in recent months.