Novig is a New York-based, peer-to-peer, commission-free sports betting exchange that drew significant attention this week with a major funding round and heightened focus on regulation. The company disclosed a $75 million Series B round, reinforcing investor confidence as it reported 50x growth in trading volume since launch.
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Co-founder and CEO Jacob Fortinsky emphasized on the “Inside Prediction Markets” podcast that licensing, compliance, and policy risk are central to Novig’s business model. Management framed regulatory strategy as a core driver of cost structure and market access, underscoring both execution risk and the potential to build a durable competitive moat.
Novig continues to invest heavily in technology and talent, with about 55 employees in New York and active hiring across frontend and backend engineering roles. Its low-latency, event-driven infrastructure is designed to resemble a financial exchange more than a traditional sportsbook, targeting millions of traders and billions in trading volume over time.
Platform features such as live markets, no house edge, and a policy of not banning winning users are aimed at sophisticated, higher-volume bettors. The company’s origin in informal “no vig” betting group chats on Signal, Discord, and Telegram supports its focus on peer-to-peer price discovery and disintermediation of traditional operators.
Across public communications and LinkedIn posts, Novig is positioning itself as a thought leader on prediction-market regulation and scaling in highly regulated environments. This visibility effort, centered on Fortinsky’s podcast appearance, may support future fundraising, talent acquisition, and partnerships if the firm can execute on its compliance-focused growth strategy.
Overall, the week highlighted Novig’s dual focus on regulatory robustness and scalable exchange-style infrastructure, with fresh capital and rapid early growth underpinning its push to become a significant player in real-money sports trading.