Subsequent to receiving approval from the CFTC last week to offer sports event contracts to Americans nationwide, Novig has moved to enhance its regulatory footprint within the regulated prediction market space. Elie Mishory, a former Kalshi executive, has been hired as Novig’s Chief Regulatory and Legal Affairs Officer, effective immediately.
According to an official press release published Tuesday, Mishory joins Novig with more than a decade of regulatory experience and will be instrumental in guiding the company to its anticipated US launch of sports event contracts later this summer.
“In his new role, [Elie Mishory] will oversee Novig’s regulatory, compliance, and public policy functions as the company prepares to expand its federally regulated sports prediction market platform nationwide,” stated Novig on Tuesday. “Previously, he served as Chief Regulatory Officer and General Counsel at Kalshi, where he led the company’s legal and regulatory strategy from before launch and helped establish the broader acceptance of prediction markets as a regulated asset class.”
The peer-to-peer exchange, which formerly operated as a state-licensed sportsbook in Colorado, will soon be a viable, federally regulated competitor to Kalshi. Its exclusive focus on event contracts related to sports outcomes means that it won’t offer markets for elections, entertainment awards, or global affairs outcomes.
Keeping in line with the political alignment of the current US administration, Novig’s new hire is not only a former CFTC employee, but also a former member of DOGE. “Prior to Kalshi, Mishory served at the CFTC, including in leadership roles within the Division of Market Oversight and as counsel to Commissioner Brian Quintenz,” according to Novig.
“Most recently, following his time in the private sector, Mishory returned to public service, working with DOGE and supporting initiatives at the U.S. Securities and Exchange Commission focused on government modernization and operational efficiency.”
Mishory’s corporate appointment could also pave the way for Novig to enter the US regulated market well ahead of Polymarket, which has been plagued by scandals throughout the 2026 calendar year.
In April, the international exchange allegedly hosted trades made by a US Army Special Forces soldier who made a $409,000 profit using classified intel linked to Venezuela. The platform also facilitated “yes/no” positions that allowed a Google engineer to make $1.2 million from “trends” predictions for which the employee possessed private corporate information, according to the DOJ. Most recently, a Wall Street Journal investigation found that the exchange hired multiple social media influencers to promote fake Polymarket wins to their followers.
The “early summer” timeline for officially launching in the US means that Novig sports contracts could become available as the 2026-27 NFL regular season begins. The MLB will begin its postseason this year on September 29th with the Wild Card Series and the 2026-27 NBA regular season tip-off is slated for October.
By all appearances, Novig seems poised to become a reliable source for US prediction market forecasters who want to legally forecast sports events – which represent approximately 70% of US-based prediction market trading volume, according to multiple lawsuits filed by states seeking to categorize sports event contracts as sports betting.
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