Novig obtains CFTC designation, becomes first sports prediction market

• The CFTC granted recognized Novig as a Designated Contract Market
• The milestone approval enables the company to grow its US-facing presence
• Jacob Fortinsky, Novig's CEO and co-founder, speaks about the importance of the designation

America's fast-growing prediction market, Novig, hit a major milestone by obtaining approval from the U.S. Commodity Futures Trading Commission (CFTC) as a Designated Contract Market (DCM).

Novig to continue growing

The green light enables the company to operate as a federally regulated prediction market, offering its services to customers across the country under a single regulatory framework.

Notably, with the CFTC designation, Novig can now launch and operate its services in all 50 states.

The latest announcement represents a major milestone and complements recent traction gained by the leading company.

Earlier this year, Novig announced the completion of a $75m Series B funding round.

A testament to Novig's transparency and efficiency is that it recently surpassed $5bn in cumulative volume.

Fusing modern financial exchange tools with sports-native experience, the company is positioning itself as one of the most liquid, efficient and engaging sports prediction markets in the United States.

Importantly, by gaining approval to operate under CFTC oversight, Novig will propel its market presence while ensuring a consistent and scalable approach to regulation.

The first sports prediction market built by sports traders for sports traders

Jacob Fortinsky, Novig's CEO and co-founder, shared his excitement about the latest announcement, Casino Guru News learned from a press release.

"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," he explained.

Moreover, Fortinsky added: "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."

According to the executive, operating under federal oversight ensures scalability within a framework that highlights trust, fairness and transparency.

In conclusion, Fortinsky said: "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."

Operating across the country, Novig will deploy its tools that safeguard the platform from manipulation and insider activity.

The company has also established a comprehensive compliance standard that is specifically designed to protect the participants.

Considering responsible engagement, Novig maintains a 21+ age requirement.

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