Online sports trading platform Novig has this week obtained CFTC certification to become a Designated Contract Market (DCM) operator.
Announced in a press release published Tuesday, June 16, 2026, the challenger brand has now effectively completed its transition away from traditional sports exchange services and entered the sports derivatives industry.
The move sees yet another competitor go up against the likes of Kalshi and Polymarket, with conventional sportsbooks - such as DraftKings, FanDuel and Fanatics – also battling for consumer volume.
Platform now available across all 50 states
Named after "vigorish" – the fee attributed to losing sportsbook wagers - Novig is seeking to create a feeless online prediction market platform tailored to sports.
Unlike other industry entrants, Novig leans into its sports betting vertical. As much is outlined in the company's statement after receiving CFTC approval:
"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," explained Novig Co-Founder and CEO Jacob Fortinsky. "Novig is the first sports prediction market built by sports traders for sports traders."
At a moment when prediction platforms are attempting to convince state authorities that sports derivatives do not equate to gambling, Novig tackles that legal barrier head-first.
A cross-industry challenge
The CFTC decision to certify Novig's DCM status represents evidence that there exists federal support for sports-first prediction platforms. After all, it was not long ago that the government-led regulator's very own rules comprised anti-sports trading language.
With backing at a federal level, Novig can build on a longstanding company strategy to let users trade against one another, rather than competing against the house.
Speaking to CNBC, Fortinsky candidly described his team's plan of action: "What we're doing is basically cutting out the middle man. We're really rendering sportsbooks obsolete."
He elaborated on this system via a letter within the press release: "We're building a fundamentally different model where participants aren't playing against the house, but operating within a fair and transparent market."
In Fortinsky's view, only an impartial platform with no vested interest in the outcome of an event can adequately serve contemporary customers.
As such, Novig poses a threat to both traditional sportsbooks who benefit from "house edge" and multi-focus prediction platforms arguing that sports trading does not constitute gambling.
Going against the grain carries success
Established as a startup in 2021 and joining Y Combinator in 2022, Co-Founders Fortinsky and Kelechi Ukah have had to remain malleable throughout Novig's lifecycle.
The operator's first major milestone came in the form of a Colorado gambling license in 2023 but, having failed to earn New Jersey certification, the platform pivoted to online sweepstakes - initially bringing its dual-currency website to 42 states plus Washington DC.
Legislative opposition targeting sweepstakes hampered growth, however, culminating in Novig's decision to once again transform its functionality in favor of event contracts.
Pertinently, the company revealed that it has surpassed "$5B in cumulative volume" as user attach rates scale upward. From here, the goal is clear: Novig intends to be "the most liquid and efficient sports prediction market" available in the US.
Unlike the likes of Kalshi, which welcomes users from the age of 18, Novig will maintain its minimum age limit of 21-years-old across all states.
