Novig’s new status enables the company to implement financial-grade safeguards, including rigorous market surveillance and anti-manipulation protocols. By shifting away from traditional bookmaker models, the platform facilitates direct peer-to-peer trading where prices are determined by real-time supply and demand rather than house-set odds. The company aims to eliminate the punitive limits often placed on successful traders, creating an environment focused on efficiency and transparency.
In section Releases
Novig Cleared by CFTC to Launch Nationwide Sports Prediction Market
The U.S. Commodity Futures Trading Commission has granted Novig designation as a Designated Contract Market, allowing the platform to operate across all 50 states under a unified federal regulatory framework. This approval marks one of the fastest designations in the agency's history, signaling a shift toward exchange-based sports trading models.
CEO and co-founder Jacob Fortinsky stated that federal oversight provides the necessary trust and stability to scale the platform nationwide. Having already surpassed $5 billion in cumulative trading volume, the company plans a full rollout this summer. By aligning incentives with its users, Novig positions itself as a direct alternative to legacy betting platforms, targeting fans who prioritize market-driven pricing and integrity over the house-edge model.
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