Prediction Markets

Novig Sues Wisconsin in Fifth State Challenge Over Sports Event Contracts

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

Last updated on: August 18, 2026, 01:42h.

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

Novig has filed a lawsuit against Wisconsin, the fifth state the prediction market operator has sued since launching its sports event contracts nationally on Aug. 4, seeking to shield its platform from state sports betting and gambling regulations.

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)

The 45-page federal lawsuit was filed in U.S. District Court for the Western District of Wisconsin against Attorney General Josh Kaul and state gaming administrator John Dillett on Aug. 14.

Novig’s legal entity, Ludlow Exchange LLC, filed the lawsuit in Wisconsin.

Novig Seeks Expedited Injunction

The company has also filed similar pre-emptive lawsuits in New Mexico, Massachusetts, Washington, and, more recently, New York (Aug. 4) to block those states from enforcing their sports betting laws against the company.

The platform has sought an expedited preliminary injunction, citing an existential business threat posed by potential enforcement in Wisconsin.

Federal Oversight at Issue

Novig was granted Designated Contract Market (DCM) status by the Commodity Futures Trading Commission (CFTC) on June 16. The company now offers a sports-focused prediction market similar to platforms like Polymarket, where users can trade event contracts on a federally registered exchange.

Wisconsin has filed lawsuits against Polymarket, Robinhood, Coinbase and other prediction market platforms, arguing those companies constitute unlicensed gambling.

Novig believes its federally regulated status allows it to bypass state gambling laws and regulations.

Numerous Lawsuits Nationwide

The company is the first in the event contract space to have a 21+ age requirement, offering instant live trading as games unfold, deeper liquidity across markets, and expanded payment options.

On the Wisconsin sports front, today on Novig (Aug. 18), contract prices gave the Green Bay Packers a 31% implied chance of beating the Denver Broncos (70.5%) in their National Football League preseason game Friday night (Aug. 21), with market volume topping US$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.