Prediction Markets Entrant Novig Posts Over $125M in Trading Volume During First Week

Published Aug 18, 12:00 PM UTC

Novig, a newly launched prediction markets platform focused on sports event contracts, reported over $125 million in notional trading volume in its opening week starting August 4, 2026. The platform's first-week volume surpassed those of competitors Kalshi, Polymarket U.S., Underdog, and DraftKings' DKeX for sports contracts. Parlays accounted for a third of the volume, with baseball markets dominating. Co-founder and CEO Jacob Fortinsky noted the highest single-day volume reached $26.3 million. Despite regulatory challenges, including lawsuits against New York, Massachusetts, Washington, New Mexico, and Wisconsin over gambling laws, Novig remains focused on sports markets. A federal judge recently denied Novig's request for a temporary restraining order against New York. The CFTC approved Novig's designated contract market application in June.