Novig Targets All 50 States With Regulated Sports Trading Exchange After $75M Raise

Key Points

• Novig raised $75M Series B led by Pantera and is seeking CFTC approval for a nationwide prediction market.
• The platform hit $4B annualised volume and 100K+ users with a zero-commission P2P model.
• Goal: merge sports betting with financial exchange trading.

Novig, the US-based sports trading platform, has raised $75 million in a Series B funding round as the company now plans to move toward a CFTC-regulated exchange model, and this funding was led by Pantera Capital with support from Multicoin Capital, Makers Fund, Edge Equity, and existing investors Forerunner, NFX, and Perceptive Ventures, which shows strong backing as the company changes its strategy.

Novig Follows CFTC Path After Kalshi and Polymarket

This shift comes after Kalshi and Polymarket successfully launched their exchanges through CFTC regulation, and because Novig earlier tried to get state sports betting licences and later moved to a sweepstakes gaming model in 2024, the company has now decided to follow the prediction market route and has already submitted its application to the CFTC to operate a regulated prediction market across all 50 states. Co-founder and CEO Jacob Fortinsky explained that sports betting and financial markets are coming closer together, and prediction markets are becoming real trading platforms built on transparency, efficiency, liquidity, and fairness, which he believes is exactly what modern traders expect and what Novig was designed to provide from the beginning. With this new funding, Novig’s total capital raised since 2024 has crossed $105 million, and at the same time, the company reported an annualised platform volume of $4 billion, which represents more than ten times growth in 2025, along with a user base of over 100,000 traders, showing strong expansion of the platform.

Novig Targets Best Odds With Exchange-Style Sports Trading

Fortinsky also said they are building a platform that offers the best odds, real competition for every trade, new functionality that connects traditional sports betting with modern financial exchange features, and an experience that feels as active as live sports, which reflects the company’s long-term vision. Novig operates on a peer-to-peer exchange model and, unlike many other prediction markets, it does not charge commission, and according to Pantera Capital managing partner Paul Veradittakit this model removes the middleman and creates better odds, a fairer market structure, and stronger alignment between platform performance and user profits, which is why about 23% of Novig users are profitable compared to only around 2% on traditional sportsbooks, showing what he described as a complete rethinking of the sports betting market.