Novig approved for CFTC DCM license to run Ludlow Exchange
The Commodity Futures Trading Commission approved Novig's application to operate a designated contract market on Tuesday, June 16, 2026, the company announced. Novig's DCM, named Ludlow Exchange, grants the New York-based sweepstakes operator federal clearance to offer regulated event contracts on sporting outcomes nationwide. Novig is positioning itself as the first prediction market built specifically for sports fans to operate under CFTC oversight across all 50 states without navigating state-by-state approvals. The company is preparing to launch its sports-focused platform in June 2026. Novig joins a short list of CFTC-certified prediction market operators as the sector expands.
Novig must launch its sports-focused platform and capture market share before DraftKings' DKeX clears its self-certified contracts and Robinhood scales its existing brokerage distribution to prediction markets. The CFTC's proposed 267-page event contract framework gives Novig a narrow window to establish liquidity and user base before final rules force contract re-audits across the sector.
Joins ProphetX and Novig as CFTC-approved sports-native prediction exchanges, while DraftKings' DKeX and Robinhood's brokerage distribution remain the incumbent threats to win sports-native positioning before final rules force contract re-audits across the sector.