Novig Secures $75 Million in Series B to Enhance Sports Prediction Market for Traders
Novig, the rapidly ascending sports trading platform in the United States, has successfully secured $75 million in a Series B funding round, with Pantera Capital leading the charge. The funding round saw participation from prominent investors including Multicoin Capital, Makers Fund, Edge Equity, and returning investors such as Forerunner, Perceptive Ventures, and NFX. This latest round brings Novig's total capital raised to over $105 million and is aimed at bolstering the company's growth trajectory, which resulted in an astonishing tenfold increase in trading volume in 2025.
The platform, which operates as a commission-free, peer-to-peer exchange, is constructed specifically for sports traders, offering a transparent and equitable trading experience. With an annualized trading volume exceeding $4 billion, Novig has positioned itself as the go-to platform for sports enthusiasts, creating a favorable alternative to conventional sportsbooks that often disadvantage bettors.
As part of its strategic expansion, Novig has submitted an application to the Commodity Futures Trading Commission (CFTC) to obtain a Designated Contract Market (DCM) license, hoping to solidify its presence in all 50 states and operate as a federally regulated exchange. The co-founder and CEO of Novig, Jacob Fortinsky, expressed the company's goal of democratizing and financializing sports markets, emphasizing the platform's superiority in offering better odds and removing exploitative practices commonly found in traditional sports betting.
Unlike conventional sportsbooks, which operate on a model that often includes hidden fees and unfair odds, Novig’s approach allows traders to engage directly with one another, leveling the playing field. This enables users to enjoy a fair trading environment where the chances of success are significantly higher; Novig users are 10 times more likely to win compared to their counterparts on traditional platforms.
Paul Veradittakit, Managing Partner at Pantera Capital, acknowledged that Novig's innovative model challenges the status quo of the sports betting market, stripping away the middleman's exploitative practices while promoting a more beneficial experience for bettors. Veradittakit noted the compelling metrics that highlight Novig's differentiated proposition—23% of users are profitable in contrast to the dismally low figures of 2% seen on traditional betting platforms.
Fortinsky's vision reflects a fundamental transformation in the industry, aiming to create a system that prioritizes the user experience. Kelechi Ukah, another co-founder, aligns with this view, asserting that most prediction market technologies on the market today are not tailored to meet the unique demands of sports betting. Novig stands firm in its mission to offer a better trading exchange built specifically for sports traders.
The investment from the latest funding round will accelerate Novig’s developmental strategies, allowing for more market expansion and the introduction of advanced trading features designed with the needs of sports traders in mind. This commitment to innovation is set to usher in first-of-its-kind functionalities that merge the financial market's best practices with the thrill of real-time sports action. Novig is also expanding its team to over 50 professionals, enhancing its capacity to develop a robust prediction market infrastructure, ensuring transparency and efficacy in its operations.
In summary, Novig is not just redefining sports betting—it's establishing a groundbreaking prediction market model that puts traders first and aims for substantial user profitability. With further innovations and a strategic approach to growth, Novig is poised to change the dynamics of sports betting as we know it.
For more information about Novig and to stay updated on their offerings, users can visit www.Novig.com or connect with them on their social media platforms, including X and LinkedIn.
The platform, which operates as a commission-free, peer-to-peer exchange, is constructed specifically for sports traders, offering a transparent and equitable trading experience. With an annualized trading volume exceeding $4 billion, Novig has positioned itself as the go-to platform for sports enthusiasts, creating a favorable alternative to conventional sportsbooks that often disadvantage bettors.
As part of its strategic expansion, Novig has submitted an application to the Commodity Futures Trading Commission (CFTC) to obtain a Designated Contract Market (DCM) license, hoping to solidify its presence in all 50 states and operate as a federally regulated exchange. The co-founder and CEO of Novig, Jacob Fortinsky, expressed the company's goal of democratizing and financializing sports markets, emphasizing the platform's superiority in offering better odds and removing exploitative practices commonly found in traditional sports betting.
Unlike conventional sportsbooks, which operate on a model that often includes hidden fees and unfair odds, Novig’s approach allows traders to engage directly with one another, leveling the playing field. This enables users to enjoy a fair trading environment where the chances of success are significantly higher; Novig users are 10 times more likely to win compared to their counterparts on traditional platforms.
Paul Veradittakit, Managing Partner at Pantera Capital, acknowledged that Novig's innovative model challenges the status quo of the sports betting market, stripping away the middleman's exploitative practices while promoting a more beneficial experience for bettors. Veradittakit noted the compelling metrics that highlight Novig's differentiated proposition—23% of users are profitable in contrast to the dismally low figures of 2% seen on traditional betting platforms.
Fortinsky's vision reflects a fundamental transformation in the industry, aiming to create a system that prioritizes the user experience. Kelechi Ukah, another co-founder, aligns with this view, asserting that most prediction market technologies on the market today are not tailored to meet the unique demands of sports betting. Novig stands firm in its mission to offer a better trading exchange built specifically for sports traders.
The investment from the latest funding round will accelerate Novig’s developmental strategies, allowing for more market expansion and the introduction of advanced trading features designed with the needs of sports traders in mind. This commitment to innovation is set to usher in first-of-its-kind functionalities that merge the financial market's best practices with the thrill of real-time sports action. Novig is also expanding its team to over 50 professionals, enhancing its capacity to develop a robust prediction market infrastructure, ensuring transparency and efficacy in its operations.
In summary, Novig is not just redefining sports betting—it's establishing a groundbreaking prediction market model that puts traders first and aims for substantial user profitability. With further innovations and a strategic approach to growth, Novig is poised to change the dynamics of sports betting as we know it.
For more information about Novig and to stay updated on their offerings, users can visit www.Novig.com or connect with them on their social media platforms, including X and LinkedIn.
Topics Entertainment & Media）
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