Novig appoints Elie Mishory as Chief Regulatory and Legal Affairs Office

(PRESS RELEASE) -- Novig today announced that Elie Mishory has joined the company as Chief Regulatory and Legal Affairs Officer, bringing more than a decade of experience at the center of the legal and regulatory effort to establish prediction markets in the United States.

Mishory joins Novig at a pivotal moment for the company, following its recent designation by the U.S. Commodity Futures Trading Commission (CFTC) as a Designated Contract Market (DCM). In his new role, he will oversee Novig’s regulatory, compliance, and public policy functions as the company prepares to expand its federally regulated sports prediction market platform nationwide.

Mishory comes to Novig after shaping the landscape for legal prediction markets. Previously, he served as Chief Regulatory Officer and General Counsel at Kalshi, where he led the company’s legal and regulatory strategy from before launch and helped establish the broader acceptance of prediction markets as a regulated asset class.

Prior to Kalshi, Mishory served at the CFTC, including in leadership roles within the Division of Market Oversight and as counsel to Commissioner Brian Quintenz. During his tenure, he worked closely with Commissioner Quintenz on the development of Any Given Sunday, Commissioner Quintenz’s widely cited statement on sports event contracts that helped shape the modern regulatory discussion surrounding sports-related event markets.

Most recently, following his time in the private sector, Mishory returned to public service, working with DOGE and supporting initiatives at the U.S. Securities and Exchange Commission focused on government modernization and operational efficiency.

"Elie has been at the center of the most consequential regulatory developments in prediction markets — he helped bring them from a fringe idea to the center of the national conversation,” said Jacob Fortinsky, co-founder and CEO of Novig. “Elie jokes that if you hate legal prediction markets, he's happy to take the blame. That conviction is exactly why we wanted him at Novig: he believes, as we do, that transparent, compliant markets should reward skill. As we build the regulated exchange for sports and the financial contracts that follow, Elie will be central to getting the hardest part right."

“I joined Novig because this is the team best positioned to build the future of regulated sports trading,” said Mishory. “Jacob and Kelechi have built a world-class team of sports traders who are also world-class market builders, engineers, lawyers, and operators. This team understands sports trading from the inside, and it is building a platform for sports traders, by sports traders. I have enormous respect for the CFTC’s staff and leadership, who bring extraordinary dedication, seriousness, and professionalism to hard questions of market structure and look forward to working constructively with them as Novig leads in protecting its community, innovates in responsible market design, and provides a safe, fair, and best-in-class experience as a good citizen in the federally regulated marketplace.”

“I didn’t join Novig to play defense,” Mishory added. “Sports traders deserve transparent markets, fair rules, strong compliance, and an excellent trading experience — and they deserve a team that will advocate for them. I am joining Novig ready to help bring the fight for legal, regulated, trader-first markets to sports trading.”