Novig, a prediction market platform focused on sports event contracts, reported over $125 million in trading volume during its first week after launching on August 4. This volume surpassed the opening week sports contract volumes of competitors like Kalshi, Polymarket U.S., Underdog, and DraftKings' DKeX. Novig's trading activity was led by parlays and baseball markets, with a peak daily volume of $26.3 million. Despite regulatory challenges and ongoing lawsuits against several states over gambling laws, Novig remains committed to sports markets as NBA and Premier League seasons approach. The platform requires users to be 21 or older and has received approval from the Commodity Futures Trading Commission to operate as a designated contract market.
