Novig launches nationwide sports prediction market after securing federal CFTC approval

Novig is taking its sports prediction market across the United States after the Commodity Futures Trading Commission approved the New York company as a Designated Contract Market. The designation puts Novig under a federal regulatory structure rather than the state-by-state licensing system used by traditional sportsbooks. It also gives the startup a nationwide route into a market dominated by operators such as DraftKings, FanDuel and BetMGM.