Novig Raises $75 Million Series B to Scale Sports Prediction Market Model

According to a recent LinkedIn post from Novig, the company has raised a $75 million Series B financing round reportedly led by Pantera Capital, with participation from Multicoin Capital, Makers Fund, Edge Equity and existing backers Forerunner, Perceptive Ventures and NFX. The post frames this capital as a step toward building what it describes as a more efficient, liquid and fair sports prediction market.

The LinkedIn post highlights commentary from Pantera Capital’s managing partner, who suggests Novig’s peer‑to‑peer exchange model could remove the traditional sportsbook middleman and improve user profitability relative to conventional platforms. The post cites an internal metric claiming 23% of users are profitable versus 2% on traditional platforms, positioning this as evidence of a structurally different betting model.

As shared in the post, Novig is pursuing regulatory expansion by submitting an application to the CFTC, with the goal of becoming available across all 50 U.S. states. The company links to a blog post by co‑founder and CEO Jacob Fortinsky outlining its roadmap, signaling an intention to scale its prediction‑market infrastructure and broaden market access if regulatory approvals are obtained.

For investors, the reported Series B size and participation from crypto‑focused and gaming‑oriented funds suggest confidence in the convergence of digital assets, prediction markets and sports betting. If Novig can secure nationwide regulatory clearance and demonstrate sustainable liquidity and compliance, the model described in the post could pressure traditional sportsbooks on pricing and user economics, potentially shifting value toward exchange‑style operators.

At the same time, the strategy outlined in the LinkedIn post entails significant regulatory and execution risk, including CFTC approval, state‑level oversight and competition from well‑capitalized incumbents and other exchanges. The scale of the round implies expectations for rapid user growth and market depth, but profitability, take‑rate resilience and regulatory outcomes will likely determine whether this funding round translates into durable enterprise value in the sports betting ecosystem.