Novig Launches CFTC-Regulated Sports Prediction Market in 47 States

Novig flipped the switch on its federally regulated sports prediction market Tuesday, completing a transition from sweepstakes sportsbook to CFTC-designated exchange that started with a January application and cleared its final regulatory hurdle in June, further expanding the landscape of best prediction market apps.

The New York company’s sports event contracts are now live for traders 21 and older in 47 states, according to Deadspin, which reported that Arizona, Michigan, and Nevada remain geofenced. Novig’s own announcement described the rollout as nationwide.

Novig Completes Its Shift From Sweepstakes to Federally Regulated Exchange

Founded in 2021, Novig spent its first several years as a sweepstakes sportsbook, eventually building an in-house trading team to support peer-to-peer exchange before committing to prediction markets outright.

The company filed for Commodity Futures Trading Commission approval in January and was granted designated contract market status in June, clearing it to list event contracts through its DCM entity, Ludlow Exchange, LLC. That designation is the same regulatory foundation Kalshi and Polymarket operate on, though Novig has narrowed its scope entirely to sports.

Money followed the filings. Novig closed a $75 million round in February, pushing total investment past $100 million since September 2025, per Covers.

Existing account holders don’t get access automatically. Anyone who used Novig under the old sweepstakes model has to authorize and install an app update, and a geolocation app is now part of the process going forward.

Three States Remain Blocked at Launch

The “nationwide” framing comes with asterisks. Novig’s contracts are unavailable in Arizona, Michigan, and Nevada, three states whose regulators have been among the more active in challenging prediction market operators.

Deadspin also noted unconfirmed social media reports of restrictions inside Washington state, though nothing had been verified as of Wednesday morning. Here is where things stand for prospective traders:

• States live: 47
• Confirmed blocks: Arizona, Michigan, Nevada
• Minimum age: 21
• Access requirements: geolocation verification and an updated version of the Novig app

What Novig Is Actually Offering Traders

Novig’s pitch leans on the idea that sports fans have been handed generic products built for someone else. The platform is deliberately sports-only, with an interface closer to a major U.S. sportsbook than to a financial exchange, while also entering the growing conversation around best prediction market promos as it competes for new users.

• Market coverage: game lines and futures across the NFL, MLB, NBA, NHL, and other sports
• No crossover categories: nothing on politics, culture, or finance
• Instant live trading: in-play market access rather than pregame only
• Deeper market activity: the company cites improved market quality as a core launch upgrade
• Expanded payments: additional funding and withdrawal options versus the old model

CEO and cofounder Jacob Fortinsky framed the launch as an attempt to:

“Set the standard for what a modern sports prediction market should be.”
– Jacob Fortinsky

The company also markets itself against sportsbook practices it considers exploitative, specifically built-in odds margins and the limiting of consistently winning customers.

A 21-Plus Floor Separates Novig From Kalshi and Polymarket

One of Novig’s more notable choices is an age minimum of 21, matching most regulated U.S. sportsbooks. Kalshi and Polymarket both operate at 18.

That decision arrives during a stretch of intense scrutiny for the sector. State regulators and tribal gaming interests have pushed back on sports event contracts throughout 2026, Congress has held testimony on the subject, and Kalshi agreed to geofence Nevada under a settlement with the state’s Gaming Control Board.

Novig says it is layering on market surveillance, insider trading safeguards, and manipulation protections as part of its compliance build. The company hired Elie Mishory as chief regulatory and legal affairs officer earlier this summer to lead that work.

$6 Billion in Volume and a Mets Deal, but Still Chasing the Leaders

Novig has processed more than $6 billion in cumulative trading volume, a figure that still leaves it behind Kalshi and Robinhood in the U.S. market.

The launch landed days after Novig became the exclusive official prediction market partner of the New York Mets, the first agreement of its kind between a prediction market operator and an MLB club. Deals like it could open a lane into the rest of the big four leagues.

Timing works in the company’s favor. The 2026-27 NFL regular season and the MLB postseason both sit just ahead, and a sports-only exchange has more to gain from that calendar than a general-purpose one does.

How to Claim the Novig Welcome Offer with Promo Code HANDLE

New traders can lock in Novig’s welcome offer during registration. The bonus arrives as Novig Coins, the platform’s in-app trading currency, after a qualifying first purchase.

• Step 1: Download the Novig app on iOS or Android, or enter the Novig promo code HANDLE.
• Step 2: Register a new account with your full name, date of birth, email, mailing address, and Social Security number.
• Step 3: Complete identity verification and allow the geolocation check to confirm you are in an eligible state.
• Step 4: Enter promo code HANDLE before completing signup in order to Spend $25, Get $50 in Novig Coins!
• Step 5: Make your first purchase of Novig currency to trigger the bonus credit.
• Step 6: Put the balance to work on live game markets or season-long futures.

A few things worth knowing before you register. Novig limits the offer to first-time customers, the app is mobile only, and you must be at least 21. Bonus currency carries playthrough requirements before it can be redeemed, so read the terms in-app rather than assuming the credit is instantly withdrawable.

Novig’s market screen also ranks contracts by trading volume, which is the fastest way for a new trader to find where the liquidity actually is on a given slate.

What to Watch From Here

Two questions matter most over the next few months. The first is whether Novig can convert a sports-only product into volume growth once football arrives, in a category where the largest players are diversified across news, politics, and finance.

The second is regulatory. Arizona, Michigan, and Nevada are already walled off, and the state-level fight over sports event contracts has shown no sign of resolving. 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.