Novig received designation from CFTC as a Designated Contract Market

(PRESS RELEASE) -- Novig today announced that it has received designation from the U.S. Commodity Futures Trading Commission as a Designated Contract Market, positioning the company to operate as a federally regulated prediction market and expand nationwide under a single regulatory framework.

With CFTC designation, Novig will be able to operate across all 50 states and implement robust safeguards more commonly associated with financial markets, including enhanced market surveillance, protections against manipulation and insider activity, and comprehensive compliance standards designed to protect participants. The platform also maintains a 21+ age requirement and is built with a focus on responsible participation at scale.

The approval represents one of the fastest designations of its kind in CFTC history and reflects growing momentum behind exchange-based models that prioritize fairness, transparency, and integrity.

Built to challenge outdated and exploitative systems, Novig is singularly focused on creating the best platform to trade sports. By removing unfair odds and punitive limits on winning traders, Novig creates a more transparent and efficient marketplace where pricing is driven by real-time supply and demand. Through its exchange-based model, customers trade directly with one another in a liquid, market-driven environment designed to reward edge.

"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," said Jacob Fortinsky, co-founder and CEO of Novig. "Novig is the first sports prediction market built by sports traders for sports traders, and the momentum we've seen to date reinforces that there is real demand for a more efficient, and ultimately more profitable way for sports fans to participate in sports markets. Federal oversight allows us to scale within a framework built on trust, transparency, and fairness. By aligning incentives with users and removing the structural disadvantages of legacy betting platforms, we're building a fundamentally different model where participants aren't playing against the house, but operating within a fair and transparent market."

The company has already demonstrated significant traction, surpassing $5 billion in cumulative volume as more users adopt a platform that emphasizes efficiency and transparency. By combining a sports-native experience with the mechanics of modern financial exchanges, Novig is positioning itself as the most liquid and efficient sports prediction market in the country. Operating under CFTC oversight will dramatically increase its addressable market while introducing a more consistent and scalable approach to regulation.