commit d613d24d2cf82e26fc3262e9eff2a0d2aee5c550 Author: bernicejustus Date: Wed Apr 29 19:21:27 2026 +0800 Update 'Novig Raises $75M in Funding Towards Prediction Market Plans' diff --git a/Novig-Raises-%2475M-in-Funding-Towards-Prediction-Market-Plans.md b/Novig-Raises-%2475M-in-Funding-Towards-Prediction-Market-Plans.md new file mode 100644 index 0000000..b3a1142 --- /dev/null +++ b/Novig-Raises-%2475M-in-Funding-Towards-Prediction-Market-Plans.md @@ -0,0 +1,14 @@ +
A growing sweepstakes sports trading platform received a $75 million financing round in preparation of getting in the prediction market industry.
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- Novig has actually raised over $105 million since last September.
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- The [sports trading](https://clrenergiasolarrenovavel.com.br/e-aprovado-pela-aneel-emprestimo-de-105-bi-para-as-distribuidoras-de-energia/) platform will use the [funding](https://jovita.com/cheriefrazier5) to continue innovating its item.
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- Novig has actually made an application for CFTC approval to introduce a forecast market platform.
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Novig, founded in 2021 by Jacob Fortinsky and Kelechi Ukah, revealed the Series B round on Wednesday, led by Pantera Capital. Multicoin Capital, Makers Fund, and Edge Equity also purchased the peer-to-peer trading company.
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Combined with an $18 million round from September 2025 from financiers Forerunner, Perceptive Ventures, and NFX, Novig raised more than $105 million in capital in less than a year.
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"We chose to partner with the best crypto venture companies worldwide to further accelerate our strategies to make Novig the most efficient and liquid sports prediction market worldwide," said Fortinsky, who's also Novig's CEO. "Others are utilizing forecast market technology to financialize new markets with unproven need. We leverage it to repair damaged markets where demand currently exists."
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Carrying on up
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Novig is presently seeking Designated [Contract Market](http://sinbadteck.com/blog/journal-blog-is-here) approval from the Commodity Futures Trading Commission (CFTC), which federally controls prediction markets. The company prepares to utilize the new capital to spearhead product development to use monetary markets and take sports to a various level with prediction markets.
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Novig has grown rapidly over the last couple of years, which has actually significantly helped draw in investors. The platform's trading volume grew by 10 times in 2025, and the business reported an [annualized volume](http://knowledge.thinkingstorm.com/UserProfile/tabid/57/userId/3114065/Default.aspx) of $4 billion. Available in more than 35 states, Novig once [operated](http://39.99.175.1728000/franklynfergus) in more before lawmaker in numerous jurisdictions banned sweepstakes casino video gaming. Gaining CFTC approval and relocating to a prediction market model would put Novig in all 50 states, [disallowing](http://tlsdbv.nltu.edu.ua/71-%D1%88%D0%B0-%D1%81%D1%82%D1%83%D0%B4%D0%B5%D0%BD%D1%82%D1%81%D1%8C%D0%BA%D0%B0-%D0%BD%D0%B0%D1%83%D0%BA%D0%BE%D0%B2%D0%BE-%D0%BF%D1%80%D0%B0%D0%BA%D1%82%D0%B8%D1%87%D0%BD%D0%B0-%D0%BA%D0%BE%D1%84/) the result of court fights in Nevada and Massachusetts.
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"Novig integrates the cultural heartbeat of sports with the transparency and effectiveness of forecast markets," Ukah, Novig's CTO, said. "Most forecast market volume today is on sports, yet those platforms weren't developed with sports or sports bettors in mind. We are providing a much better exchange that is built by sports traders, for sports traders."
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Built for [forecast success](https://worldaid.eu.org/discussion/profile.php?id=1683187)?
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Novig has been using a sweepstakes design, but its sports wagering platform, which uses spreads, moneylines, overalls, and props, operates as a trading exchange in between users, who do not pay a commission fee. Novig has already developed a name for itself in the industry and has a trading team on staff. The business would have the ability to quickly transition into a forecast market all set to take on Kalshi, Polymarket, DraftKings Predictions, and FanDuel Predicts.
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"Novig is proving that prediction markets can basically reshape sports betting by eliminating the exploitative intermediary," said Paul Veradittakit, [handling partner](http://git.cgkc.com/barbarasantos2) at Pantera Capital. "Their peer-to-peer exchange provides what traditional sportsbooks can't: much better chances, fairer market structure, and positioning between platform success and user success.
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