Novig Volume Rapidly Tops Some Big Prediction Market Names

As has been widely documented, Novig’s sports-focused prediction market, which rolled out nationwide earlier this month, is off to a fast start.

So much so that average daily volume on the platform is already surpassing turnover on rival exchanges like Rothera and Underdog.

That’s noteworthy because Rothera—in which Robinhood Markets (NASDAQ: HOOD) is a major investor—and Underdog represent two of the biggest success stories among upstart prediction market operators.

Note: The Nadex Exchange, highlighted in the chart above, clears trades for multiple prediction market operators, including DraftKings, Fanatics, and FanDuel.

Strong Start, Intense Competition

There’s no denying that Novig is off to a fast start with the nationwide rollout of its sports-centric exchange. That debut is all the more impressive considering August is traditionally one of the slowest months on the U.S. sports calendar.

However, as EKG’s Allen points out, Novig and its upstart peers still have considerable ground to cover to reach industry leaders Kalshi and Polymarket. Those two dominant exchanges combine for roughly $1.3 billion in average daily volume, far outstripping smaller rivals.

Still, Novig holds distinct structural advantages. Its core focus on sports event contracts and established peer-to-peer exchange infrastructure position it well to capture market share as the space expands.

Following its Series B funding round earlier this year, Novig was valued at $500 million in private markets.

Bullish on College Football and Fall Growth

With Week 0 of college football kicking off, the 2026 season brings prime demand for both prediction markets and traditional sportsbooks. Novig CEO Jacob Fortinsky believes the exchange is ready for the influx.

“Our growth will continue to be product-led, but we’re going to become much more aggressive on user acquisition and brand awareness,” Fortinsky said in a recent appearance on the 4th Quarter podcast (which Novig sponsor-funds). “I’d be surprised if, in the next two months, any sports fan didn’t know who Novig was.”