Sports prediction market Novig completes $75 million Series B funding, led by Pantera Capital

The sports event prediction market platform Novig announced the completion of a $75 million Series B funding round, led by Pantera Capital, with a post-funding valuation of $500 million.

Novig co-founder Jacob Fortinsky stated that the company was founded in 2021 with the aim of creating a consumer-friendly platform for modern sports bettors, with its core advantage being its peer-to-peer trading model. Novig is currently applying for a license from the Commodity Futures Trading Commission and expects to complete this within six months. Fortinsky emphasized that, unlike platforms such as Kalshi and Polymarket, Novig's product design and brand positioning are centered around sports events, making it more aligned with the usage habits of ordinary sports fans.