Novig has completed its shift from sweepstakes sportsbook to a federally regulated, sports-only prediction market, now live across the US.
Novig has finished its transition from a peer-to-peer sweepstakes sportsbook to a full prediction market built specifically around sports, going live nationwide this week under federal regulatory approval.
Key Takeaways
- The platform launched Tuesday, days after Novig became the New York Mets’ official prediction market partner
- Novig received CFTC designated contract market approval last month
- Unlike Kalshi or Polymarket, Novig’s markets are sports-only, with no politics, culture, or finance contracts
What Happened
Novig has already processed more than $6 billion in trading volume on its earlier model, and the company says its newly regulated platform is now live across the country. The launch comes shortly after Novig was named the exclusive prediction market partner of the New York Mets.
The company received designated contract market approval from the Commodity Futures Trading Commission in June, the same type of federal designation that underpins platforms like Kalshi and Polymarket. That approval lets Novig scale nationally while staying within a single regulatory framework rather than seeking licenses state by state.
Novig offers game and futures markets across the NFL, MLB, UFC, professional tennis, and other sports, built to resemble the layout of a typical sportsbook rather than a general-purpose trading exchange. CEO and co-founder Jacob Fortinsky said the company built the platform specifically for how sports fans already think and engage with the games they follow, rather than adapting a broader prediction market model to fit sports on top of it.
The company says the new platform offers instant live trading, deeper liquidity, and more payment options than its prior sweepstakes-based model.
Age Requirements and Safeguards
Novig will require users to be at least 21, matching the standard minimum age at most US sportsbooks rather than the 18-plus threshold used by Kalshi and Polymarket. Fortinsky said the company is investing in market surveillance and protections against manipulation and insider trading, an area that has drawn regulatory scrutiny for other prediction market platforms.
Background
Novig launched in 2021 as a sweepstakes sportsbook, building an in-house trading team to support peer-to-peer wagering before shifting toward the prediction market model. The company applied for CFTC approval in January and closed a $75 million funding round in February, bringing its total funding past $100 million since September 2025.
Novig has positioned itself as an alternative to sportsbook structures it describes as relying on unfavorable pricing and limits placed on winning players, framing its shift to prediction markets as a way to serve existing sports betting demand rather than create a new market from scratch.