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

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

Strong Start for Novig, But Competition Is Intense

There’s no denying that Novig is off to a strong start with the nationwide rollout of its sports-centric exchange and that stout debut is all the more impressive when considering August is one of the most lethargic months on the U.S. sports betting/trading calendar.

But as EKG’s Allen points out, Novig and its upstart peers have a lot of work to do when it comes to catching up to the two dominant prediction market operators on the turnover front. Those two exchanges combine for about $1.3 billion in average daily volume, far exceeding the tallies notched by smaller rivals, according to the analyst.

Novig has some advantages, including a focus on sports event contracts and established competencies in the sports peer-to-peer exchange realm, potentially making it ideally situated to capture market share in the event contract space.

Following a Series B funding round that concluded in February, Novig is valued at $500 million in private markets, or halfway to the unicorn label.

Novig Bullish on Near-Term Growth

With Week 0 of college football kicking off this week, the 2026 football season is officially here and that’s prime time for prediction markets and sportsbooks to strut their stuff. Novig CEO Jacob Fortinsky believes his company is up to the challenge.

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

Novig is a financial sponsor of that podcast.