Betr raised $15 million in a funding round that valued the company at $375 million, according to the media report. CEO Joey Levy said the company was focused on long-term, profitable growth; the report also said Betr had exited Massachusetts the previous month, where its market share was below 0.1%.
The raise provides a stated company valuation and investor funding as Betr pursues growth after leaving Massachusetts.
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Daily fantasy sports contests in Massachusetts are regulated by the Office of the Attorney General under 940 CMR 34.00, according to the Massachusetts Gaming Commission. The rules aim to protect consumers and their families from unfair or deceptive practices, including unaffordable losses; the page lists registered operators.
Kalshi is exploring another capital raise that could value the prediction-market company at about $40bn as early as the third quarter, according to the report. Its latest fundraising round valued it at about $22bn; Donald Trump Jr.’s earlier equity grant was reportedly worth about $300,000 when Kalshi’s valuation was below $2bn.
Novig CEO Jacob Fortinsky said the company plans to shift its full operation to a Commodity Futures Trading Commission-regulated designated contract market framework later this year, ending its interim sweepstakes model. He also said Novig had closed a $75 million funding round at a $500 million valuation. Betty said it had left sweepstakes, while Betr confirmed a partnership with Polymarket to add prediction markets to its app.
Polymarket was reportedly finalising a funding round of more than $200m led by Founders Fund. The proposed investment would value the company at about $1bn before the new capital; Polymarket and Founders Fund representatives declined to comment, according to the report.
BlueBet said it had entered a binding asset sale agreement to acquire betr’s wagering business. It also announced a fully underwritten, two-tranche conditional placement targeting gross proceeds of approximately A$20 million at A$0.21 per share to support growth initiatives, synergy realisation and transaction costs.