Prediction Markets

Novig Sues Wisconsin in Fifth State Challenge Over Sports Event Contracts

Posted on: August 18, 2026, 01:42h.

Last updated on: August 19, 2026, 04:37h.

Written by

Mark Keast Mark is a long-time, seasoned journalist, as a writer and editor, working for several Toronto daily newspapers, then moving over to the digital arena, covering both sports and business. Over the past few years he moved over to the gaming arena, specifically covering the igaming industry in Canada for several platforms, as well as writing on sports betting.

Key Points

Novig launched its sports-focused event contract platform nationally on Aug. 4
The company argues its federal CFTC oversight supersedes state sports betting and gambling regulations
Novig is seeking an expedited injunction to prevent Wisconsin from taking enforcement action against its platform

Prediction market operator Novig has sued Wisconsin officials to shield its platform from state gambling enforcement—marking the fifth state the company has targeted since launching its sports event contracts nationwide on Aug. 4.

Tyrod Taylor of the Green Bay Packers looks to pass during a preseason game Aug. 13. Sports-focused prediction market platform company Novig, offering markets like the NFL, is suing Wisconsin. (Image: Joe Sargent/Getty Images)

On Aug. 14, Novig’s corporate entity, Ludlow Exchange LLC, filed a 45-page federal lawsuit in the U.S. District Court for the Western District of Wisconsin against Attorney General Josh Kaul and State Gaming Administrator John Dillett.

Citing an “existential business threat,” the platform is seeking an expedited preliminary injunction to block state enforcement.

Wisconsin marks Novig’s fifth preemptive legal challenge following similar suits in New Mexico, Massachusetts, Washington, and New York to protect its sports event contracts from state gaming laws.

Federal Oversight at Issue

Novig secured Designated Contract Market (DCM) status from the Commodity Futures Trading Commission (CFTC) on June 16, allowing it to operate a federally registered exchange for sports prediction markets alongside competitors like Polymarket.

While Wisconsin state officials previously sued platforms like Polymarket, Robinhood, and Coinbase for operating what the state considers unlicensed sports gambling, Novig contends its CFTC regulation preempts state enforcement.

Market Traction and Features

Beyond its legal offensive, Novig operates as the first event-contract platform with a strict 21-and-over age requirement. The platform features live in-game trading, expanded payment options, and deeper market liquidity.

Ahead of Friday’s NFL preseason matchup between the Green Bay Packers and Denver Broncos, Novig traders gave the Packers a 31% chance of victory compared to 70.5% for Denver, pushing market volume over $29,600.

Mark is a long-time, seasoned journalist, as a writer and editor, working for several Toronto daily newspapers, then moving over to the digital arena, covering both sports and business. Over the past few years he moved over to the gaming arena, specifically covering the igaming industry in Canada for several platforms, as well as writing on sports betting.