Novig Seeks CFTC Approval for Expanded Sports Prediction Market Roster

Novig has filed plans with the Commodity Futures Trading Commission (CFTC) to launch a wide slate of sports event contracts, signaling that the prediction market exchange is closing in on a retail rollout.

According to regulatory documents on the Ludlow Exchange website, the operator has 68 total filings on record with the CFTC. Of those submissions, 58 focus on specific sports, including golf, tennis, UFC, MLB, the NFL, and the WNBA.

Novig established Ludlow Exchange in January, a move signaling the company wants to vertically integrate its prediction market operations rather than partnering with a third party. That tactic is increasingly popular in the prediction market industry.

Last month, the CFTC awarded Novig Designated Contract Market (DCM) status, paving the way for the company to offer event contracts on a nationwide basis. The platform is currently available in 42 states.

Inside Novig Filings

On Thursday, Ludlow Exchange filed with the CFTC for event contracts pertaining to winners of WNBA games and head-to-head PGA Tour matchups.

The regulatory documents don’t feature desired launch dates, but the examples of how the contracts would look in real-time include a WNBA game slated for July 28 and a PGA event on Aug. 6.

Some of the other July 23 filings include those for event contracts on men’s and women’s professional tennis, baseball, football and UFC. The NFL contract Ludlow Exchange filed for yesterday is the prediction market equivalent of a player proposition wager.

With the start of the 2026 NFL season about seven weeks away, Novig’s push into NFL event contracts is meaningful because football is the most wagered on sport in the U.S. and the upcoming season is expected a significant driver of volume on yes/no exchanges.

Novig Focuses on Sports

Founded in 2021 as a peer-to-peer exchange, Novig has the DNA needed to be a credible player in the hyper-competitive prediction market industry. As was noted last month, the company has already handled $5 billion in volume dating back to 2025.

The privately held company, which raised $105 million across two financing rounds, focuses on sports. That’s likely a sign its competitive point of emphasis is traditional sportsbook operators, not all-or-nothing exchanges with large menus of event contracts.