On Tuesday, Novig officially transitioned from its sweepstakes model and launched CFTC-regulated sports event contracts in 47 states. Account holders who are at least 21 years of age will need to pass geolocation checks in order to update the app and begin trading on the new prediction exchange platform.
Specifically, Novig sports contracts are blocked in the states of Arizona, Michigan, and Nevada. Some initial reports show that the state of Washington may also be at least partially geofenced, but we’re awaiting confirmation on those details.
In an official press release, Novig CEO Jacob Fortinsky heralded the launch as “visionary” for US-facing prediction markets. “For too long, sports fans have had limited ways to engage with the markets they know best. They are among the most passionate and informed communities in the world, yet they’ve never had a platform truly built around how they think, engage, and trade,” said Fortinsky.
“We built Novig to change that, not only by creating the best place to trade sports, but by setting the standard for what a modern sports prediction market should be. That has meant building with trust, transparency, and responsible participation at the center, including maintaining a 21+ age requirement and investing in the compliance, market surveillance, and safeguards needed to scale responsibly. This launch is a major step toward bringing that vision to more users than ever before.”
Novig’s launch as a CFTC-regulated prediction exchange marks an important step in the platform’s aim to increase its market share over industry leaders Kalshi and Robinhood in the United States. However, the exchange’s sports contracts are currently geofenced in three jurisdictions: Arizona, Michigan, and Nevada.
Initial social media posts indicate that Novig’s sports contracts may also be blocked in certain regions within Washington state, although there has been no confirmation of that as of early Wednesday morning. Regardless, the categorization of a “nationwide” launch is not completely accurate due to the confirmed blockages in AZ, MI, and NV.
The latest trading volume tally for Novig’s sports contracts is listed at over $6 billion, a figure that places it behind Kalshi and Robinhood in the United States. But the start of the 2026-27 NFL regular season along with the MLB postseason could catapult Novig’s trading volume due to its unique user interface and exclusive focus on sports contracts.
Earlier this week, Novig partnered with the New York Mets in a deal that makes the company the “exclusive” prediction market provider for the team. The agreement is a first of its kind for prediction market apps in terms of joining forces with an MLB team and could pave the way for future prediction exchange prominence in the “big four” sports within the United States.
Account holders who previously used Novig as a sweepstakes platform will need to authorize, download, and install a new update in order to begin using Novig’s CFTC-regulated sports exchange. A geolocation app will also be in use going forward.
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