Novig was founded in New York in 2021 by Harvard graduates Jacob Fortinsky and Kelechi Ukah, and went through Y Combinator in 2022. It started as a sweepstakes-based sports exchange. In June 2026 it received its own CFTC designation as a regulated exchange, Ludlow Exchange, and on August 4, 2026 it relaunched nationwide as a real-money sports prediction market.
Backed by more than $100 million from investors including Pantera Capital, Forerunner Ventures and Lux Capital, Novig has become one of the fastest-growing platforms in the category. It traded more than $1.1 billion in its first six weeks as a regulated exchange. Its pitch is simple: sports trading without the vig. Instead of paying a sportsbook’s built-in margin, you trade peer-to-peer at fair prices.
What stands out
Price is Novig’s main advantage. Pre-game straight trades and maker orders carry no fees, and makers even earn a credit when their orders fill. That makes Novig one of the cheapest ways to trade sports in the US.
You can take a posted price or set your own, see odds in American, decimal or percentage format, and cash out eligible positions early. The market lineup covers:
- Leagues and sports: NFL, college football, NBA, college basketball, WNBA, MLB, NHL, UFC, soccer, tennis and golf
- Trade types: moneylines, spreads, totals, player props, futures, live in-game trading and parlay-style Combos
New users get $25 in Trade Credits for a $10 deposit. A monthly Points program with cash prize pools of up to $250K rewards active traders. Novig is available in 47 states plus Washington, D.C. Withdrawals by bank transfer, debit card or Venmo often clear within minutes. The apps are rated 4.7/5 on iOS and 4.6/5 on Android.
Worth knowing before you sign up
Novig is sports-only, so there are no politics or economics markets, and it covers fewer sports than Kalshi. As a young exchange, liquidity can be thin on niche props, and your own posted prices may take time to fill. Live taker trades and Combos carry small fees, and card and Apple Pay deposits have a 3% fee. Bank and stablecoin deposits are free. There’s no API, and you can’t sell a position directly; instead you take the opposite side or cash out where it’s available.
Novig isn’t available in Arizona, Michigan or Nevada. It received a cease-and-desist from Missouri in September 2026 and is suing several states to protect its access. Users must be 21+.
The verdict
Novig is the value pick among sports prediction markets. It has fee-free pre-game trading, a clean mobile app, fast payouts and one of the widest state footprints in the space. It’s a strong choice for sports bettors who want sharper prices than a sportsbook and are happy to focus purely on sports.
