Novig’s CFTC approval isn’t just a win for Novig. It’s a problem for sportsbooks

When Novig announced that it had secured designation as a Designated Contract Market (DCM) from the Commodity Futures Trading Commission (CFTC), the obvious headline was regulatory approval. The more interesting headline is that a startup just received federal permission to take a run at the sportsbook industry. That’s what could make this significant.