Add Novig Raises $75M in Funding Towards Prediction Market Plans

Novig-Raises-%2475M-in-Funding-Towards-Prediction-Market-Plans.md

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+<br>A growing sweepstakes sports trading platform received a $75 million funding round in preparation of getting in the prediction market industry.<br>
+<br>- Novig has raised over $105 million since last September.<br>
+<br>- The sports trading platform will utilize the financing to continue innovating its product.<br>
+<br>- Novig has actually made an application for CFTC approval to launch a forecast market platform.<br>
+<br>Novig, founded in 2021 by Jacob Fortinsky and Kelechi Ukah, revealed the Series B round on Wednesday, led by Pantera Capital. Multicoin Capital, Makers Fund, and Edge Equity likewise purchased the peer-to-peer trading [business](http://sera-s.kr/bbs/board.php?bo_table=free&wr_id=178).<br>
+<br>Combined with an $18 million funding round from September 2025 from financiers Forerunner, Perceptive Ventures, and NFX, Novig raised more than $105 million in capital in less than a year.<br>
+<br>"We selected to partner with the very best crypto venture firms in the world to additional accelerate our strategies to make Novig the most efficient and liquid sports forecast market in the world," said Fortinsky, who's likewise Novig's CEO. "Others are utilizing prediction market technology to financialize new markets with unproven need. We leverage it to repair damaged markets where need currently exists."<br>
+<br>Moving on up<br>
+<br>Novig is currently looking for [Designated Contract](http://onuralpaydin.info/2013/11/14/neden-bu-bloga-basladim/) Market approval from the Commodity Futures Trading Commission (CFTC), which federally [regulates prediction](http://nailhairspa.com/vn/tin-tuc/59_spa-pedicure-lua-chon-tot-nhat-cho-tiem-nail.html) markets. The business prepares to use the brand-new capital to spearhead item  to use [monetary](http://www.visiontape.com/free/75) [markets](http://pilot.waytoacme.com/employer/the-bet-9ja-promotion-code-for-2026-is-yohaig) and take sports to a different level with prediction markets.<br>
+<br>Novig has grown quickly over the last couple of years, which has actually [considerably helped](http://49.50.103.174/steffenarroyo4) draw in financiers. The [platform's trading](https://5.189.139.203/tawnyaburrowes) volume grew by 10 times in 2025, and the business reported an annualized volume of $4 billion. Available in more than 35 states, Novig once operated in more before legislator in multiple jurisdictions banned sweepstakes casino video gaming. Gaining CFTC approval and relocating to a prediction market model would put Novig in all 50 states, disallowing the result of court battles in Nevada and Massachusetts.<br>
+<br>"Novig integrates the cultural heartbeat of sports with the openness and efficiency of forecast markets," Ukah, Novig's CTO, stated. "Most forecast market volume today is on sports, yet those platforms weren't constructed with sports or sports bettors in mind. We are providing a better exchange that is constructed by sports traders, for sports traders."<br>
+<br>Built for forecast success?<br>
+<br>Novig has been utilizing a sweepstakes design, but its sports betting platform, which offers spreads, moneylines, totals, and props, runs as a trading exchange between users, who don't pay a commission charge. Novig has already built a name for itself in the market and has a trading team on personnel. The business would be able to rapidly shift into a prediction market prepared to take on Kalshi, Polymarket, DraftKings Predictions, and FanDuel Predicts.<br>
+<br>"Novig is showing that prediction markets can essentially improve sports betting by removing the exploitative intermediary," stated Paul Veradittakit, managing partner at Pantera Capital. "Their peer-to-peer exchange delivers what traditional sportsbooks can't: better chances, fairer market structure, and alignment between platform success and user profitability.<br>