Prediction markets continue pulling more gaming companies into the space, and Betr just made one of its biggest moves yet. The company, co-founded by Joey Levy and Jake Paul, acquired Ascent Capital Management, a registered introducing broker with Commodity Futures Trading Commission and National Futures Association approval already in place.
That acquisition gives Betr a much faster path into prediction markets without waiting through the normal registration timeline. More importantly, it shows how aggressively gaming companies are expanding into federally regulated event contracts while the broader legal battle over prediction markets continues to heat up.
Betr Skips the Long Approval Process
The biggest takeaway from this deal is how much time Betr potentially saved itself. The company originally applied for National Futures Association membership back in October 2025, though the application reportedly sat without movement for seven months. Instead of continuing to wait, Betr followed a strategy that Fanatics used previously by purchasing an already-approved broker.
Ascent Capital Management has operated as an introducing broker since 2011, primarily dealing with traditional commodity futures before the acquisition. That matters because introducing brokers can partner directly with federally regulated exchanges like Kalshi or Crypto.com to offer event contracts to users. They cannot directly hold customer funds, though they can still act as a bridge connecting users to the exchange infrastructure behind the scenes.
Polymarket Partnership Starts Taking Shape
The acquisition also appears closely tied to Betr’s previously announced partnership with Polymarket. Earlier this year, Betr said it planned to bring Polymarket-powered prediction markets directly into its app ecosystem.
Now the pieces are starting to fit together much more clearly. Betr says users will eventually gain access to sports, politics, culture, and other event contracts directly inside the same app that already includes fantasy contests, sportsbook products, casino games, and arcade offerings.
Joey Levy described prediction markets as one of the most important developments in both entertainment and financial technology. The company also framed the move as another step toward building what it calls a nationwide real-money gaming super app.
Gaming Companies Keep Flooding Into Prediction Markets
Betr is far from the only company moving aggressively into this space. DraftKings, Fanatics, FanDuel, Robinhood, Coinbase, Crypto.com, PrizePicks, and Underdog have all made moves connected to prediction markets over the past year. That list keeps growing because prediction markets offer something many companies want badly right now, nationwide scale under federal oversight. Traditional state-by-state licensing systems create significant barriers to expansion for gaming operators.
Prediction markets potentially create a very different pathway through federal commodities regulation instead. At the same time, legal pressure around the industry continues to intensify. Multiple states are actively challenging sports-related event contracts, arguing they operate too similarly to state-regulated gaming products. Minnesota recently became the first state to pass a law broadly banning prediction markets, and the CFTC immediately responded with a lawsuit seeking to block it.
The Trade Handle Prediction Markets Take
Major gaming operators increasingly see event contracts as an important long-term product category worth building around. We also think Betr’s move highlights how valuable federal registration has suddenly become. Instead of waiting through uncertain approval timelines, companies are now actively purchasing already-licensed brokers just to accelerate access into the space. That kind of urgency says a lot about how seriously the industry now views prediction markets as part of the future of online gaming and financial interaction.