Novig review

Novig is a CFTC-regulated, sports-only prediction market where you trade against other users, not a house. Pre-game trades carry no fee, which makes it one of the cheapest ways to trade sports in the US, though it is new and under state legal pressure.

Novig is a legitimate, CFTC-regulated sports prediction market where you trade event contracts against other users rather than a sportsbook. Its standout feature is cost: as of October 2026, pre-game trades carry no fee at all. It is sports-only, 21+, and new to federal regulation, and it is fighting several states in court.

What Novig is

Novig was founded in New York City in 2021 by CEO Jacob Fortinsky and CTO Kelechi Ukah, and went through Y Combinator’s Summer 2022 batch, according to its YC profile. It started out as a sportsbook-style app and later ran a sweepstakes model. Both are gone: Novig’s help centre says its old Novig Cash and Novig Coins “are retired; all activity now runs through a single real-money account.”

Today Novig runs as Ludlow Exchange, LLC, d/b/a Novig. The CFTC designated Ludlow a contract market on June 16, 2026. That is the same federal status as Kalshi. Novig announced its nationwide launch on August 4, 2026, and said it had passed $6 billion in cumulative trading volume. That is Novig’s own figure, from its press release. Fortune reported in February 2026 that Novig raised a $75 million Series B led by Pantera Capital, at a $500 million valuation.

How Novig works

Every Novig market is a yes/no event contract priced between $0 and $1. A winning contract pays $1 and a losing one pays nothing, so the price works as the market’s implied probability. A Chiefs “Yes” contract at 62¢ means traders collectively give the Chiefs about a 62% chance. (New to this? Our guide to reading implied probability walks through the maths.)

The important difference from a sportsbook is who sits on the other side. Novig’s help centre says: “you’re trading with other users, not against the house. There’s no vig or juice built into our prices.” You can:

• Take a price someone else has posted, so your order fills straight away.
• Make your own price and wait for someone to match it. Pre-game make orders cancel automatically when the game goes live.
• Sell before the game ends to lock in a profit or cut a loss, just like selling a share.
• Build parlays. These work differently: Novig gets a quote from its liquidity providers instead of matching you with one other user.

Markets cover pro and college football, MLB, men’s and women’s pro and college basketball, NHL, golf, tennis, soccer and MMA. Bet types include moneylines, spreads, totals, player props and futures. Most sports support in-play trading. There are no politics, economics or crypto markets.

Novig fees

Novig’s fee model is the main reason to use it. Per its fee page, as of October 2026:

• Pre-game straight trades: $0, whether you take or make.
• Maker orders: $0 on every market type.
• Live and futures straight trades (takers): 0.06 × price × (1 − price) per contract. Golf and tennis futures have been fee-free since September 10, 2026.
• Parlays: 0.10 × price × (1 − price), already included in the quoted price.

The fee is largest at a 50¢ price and shrinks toward the extremes, the same shape as Kalshi’s. One inconsistency: the FAQ on Novig’s fee page mentions “0.03 for Live”, while its fee table and worked examples use 0.06. We’ve used 0.06, the figure in the schedule itself. Confirm in the app before trading size.

Our Novig cost check: 100 contracts at 50¢

To compare costs we priced one identical order, 100 contracts at 50¢ ($50 at risk), through each route. Every figure comes from Novig’s formula and its deposit-pricing page.

The takeaway: a bank-funded, pre-game Novig trade costs nothing beyond the price itself. Funding with a card adds 3%, which is more than the trading fee on any route. If you plan to use Novig regularly, link a bank account.

Deposits and withdrawals

Bank transfers (through Stripe or Aeropay) and stablecoin deposits (USDC or USDT through Coinflow) are free. Credit cards, debit cards and Apple Pay carry a 3% fee. Novig accepts Visa, Mastercard, American Express and Discover.

Withdrawals go out by bank transfer, debit card or Venmo, with a $10 minimum. Novig says withdrawals that don’t need a manual review “can often be processed within minutes.” Reviews usually take up to 24 hours, or 24 to 48 hours when volume is high. Your payment provider’s own processing time comes on top. Novig’s help pages don’t list a withdrawal fee.

The Novig app

Novig runs on iOS (“Novig: Prediction Market”, iOS 16.4 or later), Android, and the web. Every time you open the app to trade, it checks your location, so what you can do depends on where you physically are, not your home address.

Sign-up needs your legal name, date of birth, address, phone number and the last four digits of your SSN. You may also have to upload a US driver’s licence or state ID. Novig’s help centre says there is no manual review if automated verification fails, so make sure your details match your ID exactly.

Where Novig is legal

Novig says it is “available nationwide, with the exception of Nevada, Arizona, and Michigan,” and you must be 21 or older. Federal designation does not end the state fight over sports event contracts, and Novig is in the middle of it:

• Connecticut issued cease-and-desist orders to nine prediction markets, Novig among them, in September 2026, per the Governor’s office.
• Missouri’s Attorney General sent Novig a cease-and-desist letter on September 17, 2026.
• Ohio sent notices to 10 operators, including Novig, dated October 2, 2026, according to Covers. We have not found an official Ohio copy.
• Novig has sued state officials in federal court in New York, Massachusetts, New Mexico, Washington, Wisconsin and, on October 16, 2026, Missouri. It argues that federal commodities law pre-empts state gambling law.

Availability can change quickly. Check our state-by-state legality tracker and the app’s own location check before you deposit.

Novig sign-up offer

Novig runs a New Member Deposit Program from October 1, 2026: deposit $10 and get $50 in trade credits. Per the official terms, the credits come as five $10 credits that can’t be withdrawn. Each expires 30 days after it’s issued and can only be used on contracts priced between 1¢ and 60¢. Winnings from the credits can be withdrawn. Novig also runs a refer-a-friend program. We don’t publish codes. Check the terms in the app.

Novig vs Kalshi

Both are CFTC-designated exchanges with US-dollar funding. Kalshi covers far more ground: sports plus politics, economics, weather and culture. It also accepts users from 18 and has a much longer regulatory track record. Novig is narrower, but cheaper for sports: Kalshi’s standard taker fee is 0.07 × price × (1 − price), rounded up to the cent ($1.75 on 100 contracts at 50¢, per its fee schedule), while Novig charges nothing on pre-game trades. See how the two biggest venues compare in our Polymarket vs Kalshi breakdown.

Our verdict on Novig

Score: 7.8 / 10. Novig is the most cost-efficient way we’ve found to trade pre-game sports in the US. Its federal designation, peer-to-peer order book and zero pre-game fees fix what sports bettors dislike about sportsbooks. We rank it behind Kalshi, Polymarket and Robinhood because it covers sports only, has been federally regulated only since June 2026, requires users to be 21, and faces a growing list of state challenges. If you trade sports and live in an eligible state, it’s worth a look: visit Novig.

Figures as of October 2026 and subject to change. Scores reflect our editorial methodology, weighted for US traders. Not financial or betting advice.

18+ (21+ where required). Prediction markets involve risk of loss — only trade what you can afford to lose. Gambling problem? Call or text 1-800-MY-RESET (National Problem Gambling Helpline, 24/7).