Novig posts $125 million in first-week sports prediction market volume
Novig, a sports-focused prediction market operator that previously ran as a sportsbook, launched August 4 and posted more than $125 million in trading volume during its first week. The Commodity Futures Trading Commission granted Novig designated contract market approval in June. Novig restricts platform access to users 21 and older. CEO Jacob Fortinsky shared the figure with CNBC. With the NFL season ahead as a key test.
Novig's $125 million debut forces Kalshi and Polymarket to defend their sports market share against a venue purpose-built for sports flow. Novig previously operated as a sportsbook, so its user base already understands moneyline odds and in-play betting. That familiarity lowers the education barrier that slows financial contract adoption. The NFL season opens in weeks, and the platforms now race to capture the same sports bettors.
Novig's early volume topped both Rothera and Underdog, according to Eilers and Krejcik Gaming. Market makers who allocated capital to Novig now face a redeployment decision: split inventory across three regulated sports venues or concentrate where flow is currently richest. Kalshi and Polymarket must match order-book depth or lose traders to slippage at the moment they can least afford it.