Novig is a New York-based, peer-to-peer, commission-free sports betting exchange that continued to attract attention this week as it sharpened its regulatory positioning and highlighted rapid growth. Co-founder and CEO Jacob Fortinsky appeared on the “Inside Prediction Markets” podcast, emphasizing how Novig is navigating stringent regulation while scaling its platform.
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Management framed licensing, compliance, and policy risk as core to the company’s business model, indicating that regulatory strategy is central to its cost structure and market access. Fortinsky also shared lessons from building through uncertainty and iterating on Novig’s model, underlining both execution risk and potential for differentiation in prediction markets.
In parallel, Novig disclosed a $75 million Series B round, reinforcing investor confidence in its exchange-style approach to sports betting. The company reported 50x growth in trading volume since launch, pointing to strong early traction in a competitive online sports wagering landscape.
Novig is investing heavily in technology and talent, with about 55 employees in New York and active hiring across frontend and backend engineering roles. Its roadmap targets millions of traders and billions in trading volume, with low-latency, event-driven infrastructure designed to resemble a financial exchange more than a traditional sportsbook.
Platform features such as live markets, no house edge, and a policy of not banning winning users are aimed at sophisticated, higher-volume bettors. Novig’s origin in informal “no vig” group chats on Signal, Discord, and Telegram supports its focus on peer-to-peer price discovery and disintermediation of traditional operators.
The company is also cultivating thought leadership and brand visibility by promoting Fortinsky’s podcast appearance, which could aid future fundraising, partnerships, and talent acquisition. Overall, the week underscored Novig’s dual focus on regulatory robustness and scalable infrastructure as it seeks to build a durable, exchange-like venue in real-money sports trading.