Betr Acquires NFA-Registered Broker to Fast-Track Prediction Market Launch Powered by Polymarket

Betr has acquired Ascent Capital Management Inc., a National Futures Association-registered introducing broker, in a move designed to accelerate the sports media and technology company’s entry into the prediction markets space. The acquisition gives Betr regulatory standing to launch a prediction market platform powered by Polymarket, positioning the company at the intersection of sports betting and financial derivatives at a time when the sector faces intensifying federal scrutiny.

The deal marks a strategic pivot for Betr, which built its early identity around a simplified sports betting product and DFS-style player props. By securing an NFA-registered broker, Betr gains the CFTC-compliant infrastructure needed to offer event contracts tied to real-world outcomes, including sports — without the need to operate under state gaming licenses. It is a regulatory path that Kalshi and Polymarket have used to reach bettors in states where traditional sportsbooks cannot legally operate.

Why the Polymarket Partnership Matters

Polymarket, which operates one of the world’s largest prediction market platforms by trading volume, brings a proven product and an established liquidity base. Betr’s integration with Polymarket would allow its users to access sports and political event contracts through a familiar interface, while Polymarket benefits from Betr’s distribution reach and sports-forward brand positioning. The combination has the potential to create a competitive alternative to Kalshi, which has already moved aggressively into sports markets and secured high-profile partnerships.

The acquisition comes as Congress debates the Financial Innovation and Technology for the 21st Century Act, or FIT21, and related legislation that would clarify the CFTC’s authority over event contracts. A recent Senate hearing titled “No Sure Bets” put prediction market operators under the microscope, with lawmakers questioning whether platforms like Kalshi and Polymarket were exploiting regulatory gray areas to bypass state gaming frameworks. Betr’s move to acquire a registered broker suggests the company is prioritizing regulatory legitimacy as a long-term competitive advantage, rather than relying on jurisdictional ambiguity.

A Broader Industry Shift

The Betr acquisition reflects a broader realignment happening across the sports wagering industry. Traditional sportsbooks face rising state tax rates — North Carolina lawmakers recently discussed raising the sports betting tax to as high as 30 percent — while DraftKings made headlines by closing its Wrigley Field retail sportsbook and citing Illinois’s tax structure. Prediction markets, operating under federal CFTC oversight rather than state gaming commissions, have emerged as an alternative model that sidesteps much of that tax and regulatory pressure.

Light and Wonder CEO Matt Wilson recently urged the casino gaming industry to push back against prediction market expansion, arguing that the regulatory asymmetry is damaging for incumbents who bear far higher compliance costs. That tension is now front and center in both legislative chambers as industry groups, prediction market operators, and traditional sportsbooks each lobby for favorable treatment in any forthcoming federal framework.

For bettors and traders, Betr’s entry into the prediction market space represents another credible platform competing for market share. The company has not yet announced a launch date for its Polymarket-powered product, but the NFA registration removes one of the primary structural hurdles. Users in states where sports betting remains illegal may find prediction market platforms like Betr’s offering the most accessible way to trade on sports outcomes legally. Those looking to compare available platforms can explore prediction market apps to see how existing options stack up, or review the differences between prediction markets vs. sports betting before deciding where to place their action.

Betr has not disclosed the financial terms of the Ascent Capital Management acquisition. The company is expected to provide additional details on the platform rollout as it progresses through the remaining regulatory approval steps required to begin offering event contracts to retail customers.