Novig Raises $75M in Funding Towards Prediction Market Plans

A growing sweepstakes sports trading platform got a $75 million financing round in preparation of entering the forecast market industry.


- Novig has raised over $105 million because last September.


- The sports trading platform will utilize the financing to continue innovating its item.


- Novig has actually looked for CFTC approval to release a forecast market platform.


Novig, established in 2021 by Jacob Fortinsky and Kelechi Ukah, announced the Series B round on Wednesday, led by Pantera Capital. Multicoin Capital, Makers Fund, and Edge Equity also purchased the peer-to-peer trading business.


Combined with an $18 million financing round from September 2025 from financiers Forerunner, Perceptive Ventures, and NFX, Novig raised more than $105 million in capital in less than a year.


"We picked to partner with the finest crypto venture companies on the planet to additional accelerate our plans to make Novig the most efficient and liquid sports forecast market worldwide," said Fortinsky, who's likewise Novig's CEO. "Others are using prediction market technology to financialize new markets with unproven need. We leverage it to repair broken markets where demand already exists."


Proceeding up


Novig is currently looking for Designated Contract Market approval from the Commodity Futures Trading Commission (CFTC), which federally regulates prediction markets. The business plans to use the brand-new capital to spearhead item development to provide monetary markets and take sports to a various level with prediction markets.


Novig has grown quickly over the last number of years, which has actually greatly assisted draw in investors. The platform's trading volume grew by 10 times in 2025, and the company reported an annualized volume of $4 billion.