Betr buys NFA-registered broker to fast-track Polymarket

Betr has acquired Ascent Capital Management Inc., gaining National Futures Association membership and Commodity Futures Trading Commission introducing‑broker registration. The purchase makes Betr a CFTC‑registered introducing broker and allows it to offer federally regulated event contracts through designated contract markets.

Ascent has held introducing‑broker registration since 2011. Betr had submitted an NFA membership application in October 2025; the company said the acquisition provides immediate access to an existing compliance framework and avoids a lengthy standalone approval process.

Betr plans to roll Polymarket‑powered prediction markets into its real‑money app later this year. The company intends to offer contracts tied to sports, politics, culture and other events and to place those contracts alongside its Picks, Sportsbook, Casino and Arcade products, all accessible through a single in‑app wallet.

Introducing brokers can partner with federally regulated exchanges to distribute event contracts but are not permitted to hold customer funds directly, a function reserved for futures commission merchants. Betr described the IB structure as a way to work with regulated exchanges while keeping custody and clearing functions with designated partners.

Joey Levy, founder and chief executive, described prediction markets as “one of the most exciting evolutions in interactive entertainment and financial technology” and said acquiring an established broker allows the company to focus on launching a “seamless, compliant prediction markets experience powered by Polymarket.”

The acquisition follows several operators expanding into prediction markets. Fanatics acquired a broker last year to gain market access and became the first sports betting operator to launch regulated prediction markets. DraftKings and FanDuel have also developed prediction products. PrizePicks obtained futures commission merchant approval and partnered with Kalshi in November 2025, then expanded its product into 48 states in January 2026. Underdog partnered with Crypto.com in September 2025, later received FCM approval in January 2026 and launched contracts in multiple states.

Betr said Ascent’s compliance infrastructure will support its regulated market activity and speed the company’s rollout plans. The company presented prediction markets as an additional vertical within its single‑app strategy, allowing users to move between picks, sportsbook bets, casino games, arcade offerings and event contracts without leaving the platform.