Betr, a real-money gaming “super app” operator, has acquired Ascent Capital Management Inc, an introducing broker (IB), in a move that will enable it to fast-track a prediction-market launch at some point in 2026.
Ascent Capital is registered with the US Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA). Through the acquisition, announced on Wednesday, Betr will become a CFTC-registered introducing broker. It will also enable the company to extend its offerings beyond traditional sports betting and casino games.
According to Betr, the move paves the way for integrating prediction markets, powered by Polymarket technology, directly into its app. Previously, Betr inked a partnership with the popular prediction-market operator in March.
Co-founded by Joey Levy and social media influencer Jake Paul, Betr boasts over one million paying users. The company aims to roll out event contracts across a broad array of categories including sports, politics and culture by the end of this year.
A ‘major milestone’
Levy, who also serves as CEO, described the acquisition as a “major milestone” highlighting the growing significance of prediction markets.
“Prediction markets represent one of the most exciting evolutions in interactive entertainment and financial technology,” Levy said. “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.”
Polymarket, the technology partner behind Betr’s prediction markets, is acknowledged as one of the more prominent platforms in the sector. This hybrid approach, combining advanced market tech with licensed intermediaries, is becoming an increasingly popular method for bringing prediction market products to the US market in a compliant fashion.
Polymarket itself has been under scrutiny recently as the Argentinian government ordered its blocking and subsequent removal from Google and Apple. The government claimed that Polymarket was a “covert online betting system” operating without proper authorisation.
Ascent Capital Management has been an established NFA-registered IB since 2011, and its compliance infrastructure is expected to support Betr’s regulatory obligations as it moves into the rapidly expanding prediction market space.
Prediction market landscape
Prediction markets allow users to buy and sell contracts linked to the outcomes of future events, a concept that blends elements of betting and financial securities. Unlike conventional sportsbook or casino products, these markets have garnered interest from retail investors, institutional players, and gaming operators. However, prediction markets have faced regulatory challenges in the US, with debates ongoing globally about their integrity.
Brazil recently deemed prediction markets illegal. Brazilian Finance Minister Dario Durigan emphasised that offering bets on random events, such as weather conditions for example, does not comply with the laws passed for sport betting and online gaming.
In contrast, Gibraltar licensed its first prediction market operator last month. The operator in question, Predict Street, claims to be the official prediction market partner of the 2026 Fifa World Cup.
Future outlook
Back in the US, a closely-watched Congressional hearing on sports integrity on Wednesday largely turned into a referendum on prediction markets. Two witnesses, Bill Miller of the American Gaming Association and the Coalition of Prediction Markets’ Patrick McHenry, offered differing views on the regulatory treatment of the new asset class. The AGA reiterated its longstanding position that the regulation of sports-event contracts should be left to state and tribal gaming authorities.
Betr’s move to acquire a registered IB reflects a broader industry trend aimed at establishing compliant US-based frameworks. The acquisition essentially allows Betr to avoid a lengthy NFA registration process through the acquisition of Ascent Capital. While Betr is not shuttering its online sportsbook, the move also underscores a larger industry trend. Last week, US sports exchange Sporttrade announced that it is winding down its online sports betting platform in a move that could signal the company’s shift to prediction markets.
Betr plans to enable users to access prediction markets through the same app wallet currently used for its Picks, Sportsbook, Casino, and Arcade offerings. While the company has not provided detailed timelines, it reaffirmed its intention to launch prediction-market contracts later this year.
Kathryn Evans
Kathryn covers bitesize breaking news with a primary focus on EMEA and US legislation. A proud North Walian, fluent Welsh speaker and lifelong Wrexham FC fan – long before Hollywood came calling.
Original article: https://igamingbusiness.com/prediction-markets/betr-acquires-ascent-capital-launch-us-prediction-markets/
