Quick Answer
Novig is a CFTC-designated, sports-only, peer-to-peer prediction market, live nationwide since August 4, 2026 in most states (21+). Retail traders pay zero commission — you trade against other traders, not the house, and your cost is the spread. Contracts settle in real dollars. New members who sign up through our link and deposit $10 get $25 in trade credits. The company raised $75M at a $500M valuation in February 2026 and has traded more than $6B cumulatively. No vig, no account limits, no house edge.
Last updated: September 3, 2026
Novig Prediction Markets: Complete 2026 Review
Novig isn't trying to be the next DraftKings. It's trying to make DraftKings obsolete. The New York-based sports prediction market launched publicly in September 2024 and within 18 months achieved a $500M valuation, $75M in Series B funding (led by Pantera Capital and Multicoin Capital), and 50x growth in monthly trading volume. The core proposition is as clean as it gets: no house, no vig, no limits on winning traders. You trade against other users on a peer-to-peer exchange, and since August 4, 2026 that exchange is a CFTC-designated contract market trading real-money contracts nationwide. If you're done paying the house to lose, Novig is the alternative.
What Is Novig?
Novig is a peer-to-peer sports prediction market and trading platform where users take positions on sports outcomes directly against other traders. There is no bookmaker setting the odds and taking a cut — the market is made by the users themselves.
The platform was founded by Jacob Fortinsky and Kelechi Ukah, backed by Y Combinator, Forerunner, NFX, Pantera Capital, and Multicoin Capital. It ran a coins-and-cash product while its CFTC designation was pending and retired it on August 4, 2026, when it launched as a designated contract market.
The name “Novig” is a direct shot at the industry: it's a play on “no vig” — eliminating the vigorish (the house's cut) that traditional platforms charge on every trade.
Key Facts (September 2026)
How Novig Works
Novig operates as a peer-to-peer exchange — an order book where traders post Yes and No positions on sports outcomes, and the platform matches them directly with each other.
Traditional model:
You trade against the house. The house sets odds with a built-in margin (the vig), limits your account if you win too often, and profits whether you win or lose by managing the overall book.
Novig's model:
You trade against other traders. Novig matches your Yes position with another user's No position. The platform does not take a margin on retail trades. Novig charges fees to institutional participants who provide liquidity, not to the retail user placing the trade.
This is why winning traders stay: there is no house with a reason to limit or close a profitable account.
The order book
Each Novig market displays a live order book with Yes and No prices. If “Will the Lakers win Game 5?” shows Yes at $0.58 / No at $0.44, you can:
- Buy Yes at $0.58 → collect $1.00 if Lakers win (net gain $0.42)
- Buy No at $0.44 → collect $1.00 if Lakers lose (net gain $0.56)
- Sell your position at any time before settlement
A CFTC-Designated Contract Market — What Changed in August 2026
On August 4, 2026 Novig launched nationwide as a CFTC-designated contract market and retired the coins-and-cash product it had run while its designation was pending. In practice that means:
Real-money contracts
- Deposits, positions and withdrawals are ordinary dollars
- Contracts settle at $1.00 or $0.00, same as Kalshi
- Federal designation, the same category as Kalshi
- ID verification and 21+ required
Unchanged
- Peer-to-peer order book — another trader is your counterparty
- No retail commission; the spread is the cost
- No limits on winning accounts
- Sports only — game lines, futures, multi-leg, in-play
States: live in most states with a short exclusion list that has moved since launch. We do not print a count on purpose — the app confirms your state at sign-up.
What Sports Can You Trade on Novig?
Novig is built around sports, with the broadest sports-specific market selection of any prediction market platform:
- NBA — Game winners, player props, series outcomes, MVP, Championship futures
- NFL — Game outcomes, player props, Super Bowl futures, Draft picks
- MLB — Game winners, player props, World Series futures, Cy Young, MVP
- NHL — Game outcomes, playoff series, Stanley Cup futures
- College Sports — NCAAB tournament, NCAAF bowl games, Heisman
- 2026 FIFA World Cup — Group stage, knockout rounds, winner futures, player awards
- Soccer — Premier League, Champions League, major international tournaments
- Parlays — Multi-leg contracts combining outcomes across markets
- Props — In-game player performance milestones
- Futures — Season-long contracts on awards and championships
Novig does not currently offer politics, economics, or crypto markets — this is an intentional focus. Sports is the core product.
Novig Fees — What Does It Actually Cost?
This is where Novig separates itself from every other platform:
| Fee Type | Novig | Traditional |
|---|---|---|
| Commission (retail) | $0 — spread only | 5–10% embedded in the price (a house) |
| Account minimum | None | Varies |
| Deposit fee | None | None |
| Withdrawal fee | None | Varies |
| Hidden vig | None | Yes — always (traditional) |
| Winner account limits | None | Yes — common (traditional) |
Novig's commission-free model works because institutional liquidity providers (market makers) pay fees for access to the order book. Retail traders — you — get the exchange for free. This is the same model that made Robinhood famous for stock trading.
The catch: Like any exchange, spreads exist. The difference between the best Yes price and best No price is your implicit cost. On liquid Novig markets, spreads are tight. On thinner markets, they widen. Factor this into your entry price, especially on lower-volume props.
Is Novig Available in My State?
Novig is live in most states as a CFTC-designated contract market, 21 and over. A short list of states was excluded at the August 2026 launch and it has changed since, so we do not print a number here — the app confirms your state the moment you sign up.
Kalshi, for comparison, is available in all 50 states. If Novig is not live where you are, the offers page lists the venues that are.
Is Novig Legit?
Yes — and the funding trajectory backs it up.
- Corporate legitimacy: $105M+ raised from Pantera Capital, Multicoin Capital, Forerunner, Y Combinator, and NFX. Both Kalshi and Polymarket sought to acquire the company. You don't attract $500M valuations and acquisition interest from the two biggest prediction market platforms without a real product.
- Federal designation: a CFTC-designated contract market since August 4, 2026 — the same regulatory status Kalshi holds. Real-money contracts, ID verification, 21+.
The realistic risks:
- Liquidity risk: outside marquee games the order book is thin and the spread is your real cost. Check the book before sizing.
- Platform risk: Novig is a funded startup, not a bank. Funds are not FDIC insured. Keep position sizes proportionate.
- State risk: the exclusion list has moved since launch. If your state drops off, open positions still settle but you cannot open new ones.
Novig Sign-Up Offer: $25 in Trade Credits on a $10 Deposit
How it works: Novig's program is link-based, not code-based. Sign up through the button above, verify your identity, link a payment method and deposit at least $10. Novig adds five $5 trade credits — usable on contracts priced 1¢ to 60¢, expiring 30 days after issue. New members only, 21+, physically in a state where Novig operates.
About the code: if the app asks for one, it is C92909. The codes you will see on other sites (COVERS, SIBONUS, HANDLE, GRINDERS and the rest) are the same $10 → $25 offer under a media partner's name — there is no bigger version of it.
Novig vs. Kalshi — Which Is Better for Sports Traders?
| Feature | Novig | Kalshi |
|---|---|---|
| Sports depth | Best-in-class — built for sports | Strong, but multi-category |
| Commission | Zero for retail — spread only | Per-contract trading fee |
| Regulatory status | CFTC DCM since Aug 2026 | CFTC DCM |
| States | Most — app confirms | All 50 |
| Market volume | $6B+ cumulative | Far larger, across every category |
| Winner limits | None | None |
| Sign-up offer | $25 credits on $10 deposit | Referral credit, amount in-app |
| Best for | Sports traders — game lines, futures, in-play | Broadest market selection |
Bottom line: If sports is your primary market and you want peer-to-peer liquidity with no retail commission, Novig wins. If you want the widest non-sports selection (politics, economics, weather, culture) and the deepest books, Kalshi wins. Both are CFTC-designated. Many serious traders use both — the Kalshi vs Novig board shows where their prices disagree.
Novig Funding & Company Background
Novig's funding history tells the story of a company that moved fast and validated its model:
- Seed / Early: Y Combinator, NFX, Perceptive Ventures, Gaingels
- Series A (August 2025): $18M led by Forerunner
- Series B (February 2026): $75M led by Pantera Capital + Multicoin Capital, valuing Novig at $500M
Total raised: $105M+. The Series B was crypto-native capital — Pantera and Multicoin are among the largest crypto-focused investment funds in the world — and it funded the CFTC path that landed six months later.
Both Kalshi and Polymarket reportedly approached Novig about an acquisition (per Front Office Sports). Novig declined — a confidence signal from founders Jacob Fortinsky and Kelechi Ukah that they're building for an independent outcome.
How to Get Started with Novig
- 1Sign up through our link — the $25 referral attaches on its own; if the app asks for a code, it is C92909.
- 2Verify your identity — Novig is a CFTC-designated exchange, so ID verification and a linked payment method are required. 21+.
- 3Deposit at least $10 — that unlocks the $25 in trade credits (five $5 credits, usable on contracts priced up to 60¢, 30-day expiry).
- 4Pick a market — game lines, futures or multi-leg contracts across the NFL, MLB, NBA, NHL and college football.
- 5Enter a trade — select Yes or No, set your size in dollars, confirm. Your order hits the live peer-to-peer order book.
- 6Track and close — sell early, trade in-play, or hold to settlement at $1.00.
Payment methods: the app lists the current options at deposit; a linked payment method is part of the sign-up offer's requirements.
Frequently Asked Questions
What is Novig?
Novig is a sports-only, peer-to-peer prediction market where you trade Yes/No contracts on sports outcomes against other traders — not the house. It has been a CFTC-designated contract market since August 4, 2026, charges retail traders no commission, and is live in most states. It has raised $105M+ from Pantera, Multicoin, Forerunner, NFX and Y Combinator.
Is Novig free to use?
Yes. Retail traders pay no commissions on Novig. The cost of trading is embedded in the bid-ask spread of the order book. Novig charges institutional participants for exchange access, not retail users.
Is there a Novig promo code?
Novig’s program is link-based. Sign up through our referral link (code C92909 if the app asks), verify your ID, link a payment method and deposit at least $10, and $25 in trade credits lands on the new account — five $5 credits usable on contracts priced up to 60 cents, expiring 30 days after issue. New members only, 21+. We earn a referral credit when you do; it never changes what you get.
Is Novig legal and regulated?
Yes. Novig has operated as a CFTC-designated contract market — the same federal designation Kalshi holds — since August 4, 2026. Contracts settle in real dollars. It is 21+ by choice and live in most states with a short exclusion list; the app confirms your state at sign-up.
How does Novig compare to Kalshi?
Both are CFTC-designated exchanges. Novig is sports-only, peer-to-peer and charges retail traders no commission — your cost is the spread. Kalshi has the broadest market selection across sports, politics, economics and culture and charges a per-contract trading fee. Neither limits winning accounts. Serious sports traders often use both.
What states is Novig available in?
Most states. Novig launched nationwide as a CFTC-designated contract market in August 2026 with a short exclusion list that has moved since launch, so we do not print a count — the app confirms your state at sign-up, and you must be 21 or older.
Does Novig limit winning accounts?
No. Because Novig is a peer-to-peer exchange — not a sportsbook — there is no incentive to limit winning traders. Your wins come from other users on the opposite side of the trade, not from Novig directly.
Can I trade in-play on Novig?
Yes. Game lines stay open through live play on the peer-to-peer order book, so a position can be opened or closed while the game is on. Liquidity is deepest on marquee games; on thinner markets the spread is the cost to watch.
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