Strona zostanie usunięta „Novig Raises $75M in Funding Towards Prediction Market Plans”. Bądź ostrożny.
A growing sweepstakes sports trading platform received a $75 million funding round in preparation of getting in the forecast market industry.
has raised over $105 million because last September.
- The sports trading platform will utilize the financing to continue innovating its product.
- Novig has made an application for CFTC approval to launch a forecast market platform.
Novig, established in 2021 by Jacob Fortinsky and Kelechi Ukah, revealed the Series B round on Wednesday, led by Pantera Capital. Multicoin Capital, Makers Fund, and Edge Equity likewise invested in the peer-to-peer trading company.
Combined with an $18 million funding round from September 2025 from investors Forerunner, Perceptive Ventures, and NFX, Novig raised more than $105 million in capital in less than a year.
"We chose to partner with the best crypto endeavor companies on the planet to more accelerate our plans to make Novig the most efficient and liquid sports forecast market worldwide," stated Fortinsky, who's likewise Novig's CEO. "Others are utilizing prediction market innovation to financialize brand-new markets with unproven demand. We take advantage of it to fix damaged markets where need already exists."
Proceeding up
Novig is currently seeking Designated Contract Market approval from the Commodity Futures Trading Commission (CFTC), which federally regulates forecast markets. The company prepares to utilize the brand-new capital to spearhead product development to offer financial markets and take sports to a different level with prediction markets.
Novig has actually grown rapidly over the last couple of years, which has actually considerably helped bring in investors. The platform's trading volume grew by 10 times in 2025, and the company reported an annualized volume of $4 billion. Available in more than 35 states, Novig once ran in more before legislator in several jurisdictions prohibited sweepstakes gambling establishment video gaming. Gaining CFTC approval and relocating to a forecast market model would put Novig in all 50 states, barring the outcome of court fights in Nevada and Massachusetts.
"Novig integrates the cultural heart beat of sports with the transparency and effectiveness of prediction markets," Ukah, Novig's CTO, said. "Most prediction market volume today is on sports, yet those platforms weren't built with sports or sports gamblers in mind. We are delivering a much better exchange that is developed by sports traders, for sports traders."
Built for prediction success?
Novig has been using a sweepstakes model, but its sports wagering platform, which offers spreads, moneylines, overalls, and props, runs as a trading exchange between users, who do not pay a commission fee. Novig has currently built a name for itself in the industry and has a trading team on staff. The business would be able to quickly transition into a forecast market ready to take on Kalshi, Polymarket, DraftKings Predictions, and FanDuel Predicts.
"Novig is showing that prediction markets can fundamentally reshape sports betting by getting rid of the exploitative intermediary," stated Paul Veradittakit, handling partner at Pantera Capital. "Their peer-to-peer exchange delivers what conventional sportsbooks can't: much better chances, fairer market structure, and alignment between platform success and user success.
Strona zostanie usunięta „Novig Raises $75M in Funding Towards Prediction Market Plans”. Bądź ostrożny.