Novig, a US trading platform, has recently announced the close of a $75m Series B round in order "to build a trader-first sports prediction market" this will allow the platform to provide sports betting-based contract options like Kalshi & Polymarket.
The USP? While traditional sportsbooks operate against the house, Novig has now positioned itself as a peer-to-peer exchange specifically designed for traders to compete among themselves on a level playing field.
This latest round of investment has raised Novig's capital to more than $105m, with participants including: Pantera Capital, Multicoin Capital, Makers Fund, Edge Equity, Forerunner, Perceptive Ventures and NFX.
Throughout 2025, Novig's 10x increase in trading volume ensured that this annual figure exceeds $4bn per year.
"Our mission is to democratize and financialize sports markets, and we're proud of the fact that Novig users are 10 times more likely to win than on traditional sportsbooks," explained Co-Founder and CEO of Novig, Jacob Fortinsky.
"We chose to partner with the best crypto venture firms in the world to further accelerate our plans to make Novig the most efficient and liquid sports prediction market in the world.
"Others are using prediction market technology to financialize new markets with unproven demand. We leverage it to fix broken markets where demand already exists."
Novig emerges as leading sports trading platform on the market
Having become one of the fastest growing platforms in the United States, Novig has now formally submitted its application to the Commodity Futures Trading Commission (CFTC) as they seek to become a licensed Designated Contract Market (DCM).
If this is approved, Novig would then be able to operate event contracts under the federal commodities law. Furthermore, this would see Novig placed alongside industry heavyweights such as Polymarket and Kalshi in this sphere.
This represents a crucial stage in Novig's shift towards officially becoming a federally regulated exchange across all 50 states.
As such, the company has increased their team, adding more engineers, operators and traders to signify this recent growth.
"Novig is proving that prediction markets can fundamentally reshape sports betting by removing the exploitative middleman," adds Paul Veradittakit, Managing Partner at Pantera Capital.
"Their peer-to-peer exchange delivers what traditional sportsbooks can't: better odds, fairer market structure, and alignment between platform success and user profitability.
"When 23% of users are profitable compared to 2% on traditional platforms, it's clear this is a foundational change to the industry. We're excited to lead this round and support Jacob, Kelechi, and the team as they build a sports prediction market that actually puts bettors first."
This recent $75m investment into Novig proves that the company is on an upwards trajectory. Although they do face a wait to see whether they will receive CFTC certification.
If so, expect Novig to take the next step in their development.
