Betr has completed the acquisition of Ascent Capital Management, which will allow it to secure registration with the National Futures Association and the Commodity Futures Trading Commission and become a CFTC-registered investment broker.
Betr, an up-and-coming sports gaming, media company co-founded by entrepreneur Joey Levy and influencer Jake Paul in 2022, is a new kind of real-money gaming super app. The app offers micro-betting, fantasy picks, and social casino for everyday sports fans throughout the United States.
The deal paves the way for the company to add prediction markets directly to its app, which will happen later this year.
According to Betr, the launch of the prediction market platform will allow app users to access a variety of sports events, politics, and more.
Joey Levy, Betr’s founder and CEO, said:
Prediction markets represent one of the most exciting evolutions in interactive entertainment and financial technology.
This move aims to move Betr into the highly competitive and already developed field of prediction markets, with giant leaders like Kalshi and Polymarket.
Betr focuses on protecting consumers in the sports gambling industry. When accepting bets, Betr includes strict policies, including no credit cards to fund bets and limit amount of funds to younger consumers who are between the ages of 21-25.
