Novig Completes Transition to CFTC-Regulated Sports Prediction Market Live in 47 States
TL;DR — Novig launched its CFTC-regulated, sports-only prediction market in 47 states after January filing and June approval via Ludlow Exchange. The platform requires age 21+, features in-play trading on NFL, MLB, NBA, NHL lines, and has over $6B volume plus a Mets partnership. Three states remain blocked amid ongoing regulatory pushback.
Novig has activated its CFTC-regulated sports prediction market, completing a shift from sweepstakes sportsbook to designated contract market. The platform is now available to traders 21 and older in 47 states, with Arizona, Michigan, and Nevada geofenced. As reported by SportsHandle, the New York company filed its Commodity Futures Trading Commission application in January and secured approval in June through Ludlow Exchange, LLC.
Jacob Fortinsky, CEO and cofounder, stated the launch aims to “Set the standard for what a modern sports prediction market should be.” The platform focuses exclusively on sports event contracts across the NFL, MLB, NBA, NHL and other leagues, with instant in-play trading, no political or financial categories, and enhanced market quality.
Platform Details and Compliance Steps
Novig was founded in 2021 and built an in-house trading team before committing to prediction markets. It closed a $75 million funding round in February, bringing total investment past $100 million. The company has recorded more than $6 billion in cumulative trading volume and recently became the exclusive official prediction market partner of the New York Mets.
Users must update the app and complete geolocation verification. Existing sweepstakes account holders do not receive automatic access. The 21-plus age floor sets Novig apart from Kalshi and Polymarket, both at 18. The company hired Elie Mishory as chief regulatory and legal affairs officer this summer to implement market surveillance, insider trading safeguards, and manipulation protections.
Where Regulatory Convergence Meets State Resistance
This rollout occurs against continued state-level challenges to prediction markets, including Kalshi’s settlement to geofence Nevada. The three confirmed blocks and unverified reports from Washington illustrate limits to the “nationwide” description. Novig’s 21-plus floor and compliance spending read as a bet that the operator perceived as the most conservative will be the one left standing. The coming months will test whether this model converts regulatory clearance into durable market share.
Reporting: SportsHandle
Novig bet compliance over speed — 21-plus floor, three states blocked — and is testing if regulatory caution wins share.
We are watching prediction markets fracture into two camps: move fast or move careful. Novig raised $100 million, chose the CFTC path, hired heavyweight compliance, and set the age floor at 21 to distance itself from Kalshi and Polymarket. That is a long-term play, and it tells us where institutional money thinks the regulatory finish line sits.
- CFTC approval via Ludlow Exchange; live 47 states, geofenced AZ, MI, NV
- $100M+ raised, $6B volume, Mets partnership, age 21+ vs. competitors at 18
- Hired chief regulatory officer, built surveillance and anti-manipulation stack
SCCG angle: SCCG has guided multiple clients through regulated market structure and state-by-state expansion. If you are evaluating prediction market plays or repositioning a sweeps book, we connect you to the regulatory counsel, exchange infrastructure, and compliance vendors who have done this — and we help you model the unit economics state by state before you file.