Betr buys NFA-registered broker to launch Polymarket markets

Betr has acquired Ascent Capital Management Inc., securing National Futures Association membership and Commodity Futures Trading Commission introducing-broker registration. The purchase makes Betr a CFTC-registered introducing broker and clears a regulatory requirement for distributing federally regulated event contracts listed on designated contract markets.

The deal gives Betr access to Ascent’s compliance infrastructure and an active introducing-broker registration that Ascent has held since 2011. Betr filed for NFA membership in October 2025; after that application remained pending, the company pursued the acquisition to speed its entry. Betr says it expects to launch Polymarket-powered prediction markets within its real-money app later this year and will integrate those contracts with its Picks, Sportsbook, Casino and Arcade products in a single wallet.

An introducing broker registration allows a firm to distribute event contracts listed on designated contract markets through partner exchanges and derivatives platforms. Introducing brokers do not hold customer funds; clearing, custody and direct handling of client money are performed by futures commission merchants or other registered clearing entities.

Several gaming and fantasy operators have used acquisitions or regulatory approvals to enter prediction markets. One operator acquired a broker to obtain regulated access and launched prediction markets. Another operator received FCM approval and partnered with an exchange in November 2025. A third partnered with a derivatives platform, later secured FCM approval, expanded event-contract offerings across many states and reduced staff in March as part of a strategic shift.

Joey Levy, founder and CEO of Betr, described prediction markets as “one of the most exciting evolutions in interactive entertainment and financial technology.” He added that securing an introducing-broker registration through the acquisition allows the company to focus on launching “a seamless, compliant prediction markets experience powered by Polymarket.”

The regulatory differences between introducing brokers and futures commission merchants will affect how operators set up custody, clearing and distribution arrangements for event contracts. Companies seeking quicker market access have used acquisitions to obtain existing registrations rather than wait for new NFA approvals.