The American market will soon have another prediction platform to trade on sports-related event contracts. On Tuesday, the Commodity Futures Trading Commission officially authorized Novig’s application to become a Designated Contract Market (DCM), enabling it to offer a wide variety of forecast markets to users 21+ who are located within the United States.
The platform will allow institutional liquidity providers to act as market makers (like Kalshi does), but is still technically a “peer-to-peer” exchange. Trading on games played by professional sports leagues including the NHL, NBA, NFL, MLB, and UFC are already available on the exchange, but the full product will likely be rolled out nationwide at some point during late summer.
“Novig is the best place to trade sports. From day one, our vision has been to operate within a single national framework that raises the standard for the entire category,” said the company’s CEO Jacob Fortinsky in an official statement published Tuesday.
“Novig is the first sports prediction market built by sports traders for sports traders, and the momentum we’ve seen to date reinforces that there is real demand for a more efficient, and ultimately more profitable way for sports fans to participate in sports markets.”
Fortinsky added that “federal oversight allows us to scale within a framework built on trust, transparency, and fairness. By aligning incentives with users and removing the structural disadvantages of legacy betting platforms, we’re building a fundamentally different model where participants aren’t playing against the house, but operating within a fair and transparent market.”
Novig is a “sports only” trading platform. It does not (and will not once it has rolled out its services) offer event contracts related to elections, entertainment awards, or digital assets. Novig is also a platform that mandates all users must be at least 21 years of age to participate (unlike Kalshi and Polymarket, which accept customers as young as 18).
The upcoming nationwide access that individuals in the US will have to Novig’s services means there will be ample liquidity to support more secondary, sports-related trades. Player performance metrics as well as combinatorial trades will be much easier to facilitate on the exchange as a result.
Yes, Novig is now approved as a DCM, and its product line of sports event contracts will be fully regulated by the CFTC. This is counter to traditional online sportsbooks, which are primarily licensed through a combination of state and tribal gaming authorities. The platform’s regulatory acceptance will allow it to enter into official data agreements that can potentially offer enhanced real-time odds, game highlights, and updated scores to users, regardless of which state they’re located in.
Currently, Novig is only available in over half the country. Its nationwide launch isn’t expected to occur for at least two more months, but traders and fans that use the platform from blocked jurisdictions (like Alabama, Colorado, Nevada, Louisiana, Montana, Idaho, and Michigan) will soon be able to enjoy non-filtered access to the exchange.
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