Novig Review

What Is Novig?

Who Owns Novig

Novig’s exchange is Ludlow Exchange, LLC (doing business as Novig). Novig was founded in 2021 by Jacob Fortinsky (CEO) and Kelechi Ukah (CTO) as Harvard students and went through Y Combinator. It's a privately held company based in New York.

Forerunner raised $18m in Series A in August 2025. Pantera Capital led the $75m Series B on 18th February 2026 with Multicoin Capital, Makers Fund, Forerunner, NFX, and others, making the total funding run well over $105m.

An Exchange With No House

If you're looking for a Novig sportsbook, you'll find an exchange. People trade contracts with each other on an order book, and there's no house setting the odds. Novig sports trading began as a peer-to-peer sportsbook licensed in Colorado, then operated as a sweepstakes product and re-launched nationwide in USD on 4th August 2026.

Is Novig Legal? States and CFTC Status

Novig's exchange (Ludlow Exchange, LLC) was designated a contract market by a Commodity Futures Trading Commission (CFTC) order dated 16 June 2026. It lists contracts by self-certification pursuant to CFTC Regulation 40.2.

Where Is Novig Legal

The Novig legal states are all US states except Arizona, Michigan, and Nevada. Your eligibility is going to be determined by where you are physically located when you trade.

Is Novig legal in California? Yes, California is not on the excluded list.

Who Clears Novig Trades

Trades clear on a fully collateralized basis via Bitnomial Clearinghouse, LLC (a CFTC-registered derivatives clearing organization).

Novig Age Requirement

You must be 21 or over and pass identity verification. The majority of CFTC-regulated prediction markets will accept users from 18. Novig’s age restriction was implemented to mirror traditional US sports betting age and protect younger audiences. 

The list of Novig states can still change. Novig brought action against New York on 5th August 2026 and against Missouri on 16th October 2026 following the receipt of a cease and desist letter from Missouri.

On 22nd October 2026, the CFTC advised Novig not to list its micro contracts and suspended certain NBA and WNBA player prop certifications on a temporary basis pending review.

Sports Markets on Novig

Leagues and Contract Types

The Novig prediction market lists sports markets only. These are pro and college football, basketball and baseball, NHL hockey, ATP and WTA tennis, PGA golf and MMA. The contract types are:

• Moneylines, spreads and totals
• Team totals and half or inning lines
• Player props and futures
• Multi-leg parlays

Each contract is a yes/no question priced between $0 and $1. It settles at either $1.00 or $0.00 and trades peer-to-peer on an anonymous order book. You can sell a position prior to settlement. If you compare Novig sports betting to the other exchanges, then you'll see that the wider range of prediction market categories covers politics and economics on other exchanges.

Trading Volume

Novig hit over $6bn in cumulative trading volume at its nationwide launch on 4th August 2026, the bulk of that coming during the sweepstakes period.

Novig Fees and How Trades Settle

What a Trade Costs

How does Novig make money? They take a fee from takers on live, futures, and parlay trades. The fee is calculated as: fee = coefficient x price x (1 - price) x contracts. Makers pay nothing, and since 22nd October 2026, makers on live straight trades have been entitled to a Maker Credit of 25% of the taker fee.

How Contracts Settle

How does Novig work at settlement? Each contract settles on the official result from the league or governing body as named in the contract terms, with a fallback order. Player props settle on box score data, which is then cross-checked against the official league stats. Voids and pushes settle at fair value.

Novig publishes no account-wide cap. The rulebook will set contract limits and you can set your own purchase and order limits. You can lower them at any time, and a raise takes 24 hours to apply.

Every contract can lose the full amount paid for it, and our responsible gambling tools page has links to where you can get help.

Our Novig Verdict

Our Novig review scores four dimensions, with one fact behind each:

• Fees: pre-game straight trades carry no fee.
• Settlement: contracts settle on official league results.
• Regulatory: Ludlow Exchange is a CFTC-designated contract market, cleared by Bitnomial.
• Liquidity: Novig reported more than $6 billion in cumulative volume at launch.

Novig is a federally regulated, sports-only exchange for traders 21 and over. It's ideal for the pre-game trader, as their straight trades are free, live, and parlay traders pay a taker fee.

It's not available in Arizona, Michigan, or Nevada, and some of the NBA and WNBA props are currently under CFTC review.

Deposits and Withdrawals

Bank transfers through Aeropay, Stripe, or Trustly and stablecoin deposits through Coinflow are free. Card and Apple Pay deposits carry a 3% fee, shown before you confirm.

Every Novig withdrawal has a $10 minimum and goes to a bank account, a debit card, or Venmo, with no playthrough requirement.

The Novig App

The Novig app is listed as "Novig: Prediction Market" on iOS and Android, and the same platform runs on the web at novig.com. Novig reviews on the stores are strong. As of October 28, 2026, it is rated 4.6 out of 5 from about 7,800 ratings on the App Store and 4.5 from about 970 reviews on Google Play.

Responsible Trading

Novig has a dedicated responsible trading section. It provides access to tools such as deposit and trading limits, time out, self-exclusion, and permanent account closure.