Betr, the daily fantasy site co-owned by Joey Levy and influencer Jake Paul, has bought approval to operate as a prediction market broker, having acquired a firm that was registered with the National Futures Association (NFA).
The business co-founded by Paul bought Chicago-based introducing broker ACM Futures, also known as Ascent Capital Markets, thereby obtaining its Commodity Futures Trading Commission (CFTC) and NFA registration, NFA filings dated May 14 show.
Introducing brokers can partner with designated contract markets (DCMs), which are exchanges like Kalshi or Crypto.com, to offer the exchange’s contracts to their users. Existing introducing brokers include Fanatics Markets and DraftKings Predictions.
