Novig, the peer-to-peer prediction market, declared a funding spherical that closed at $18 million.
The principle contributors to this spherical of funding included Forerunner, Y Combinator, NFX, Perceptive Ventures, and Gaingels.
Novig declares $18 million funding spherical
The prediction market in America is heating up with an inventory of suitors that enable bettors to stake on markets comparable to election outcomes, climate patterns, and a bunch of novelty bets. We reported on the success that Kalshi and Polymarket have had throughout this yr and their authorized battles to function throughout America.
Novig is a sportsbook change that’s permitted to function in forty US states and is gaining traction amongst prediction gamblers. The format is just like British and EU sportsbook exchanges comparable to Betfair Alternate that provide occasions that pit gamers’ predictions in opposition to one another.
The platform, based by Jacob Fortinsky and Kelechi Ukah, posted on social media concerning the landmark funding spherical.
@Novig simply raised an $18M Sequence A spherical led by @forerunner.
Right here’s how we turned the fastest-growing sports activities prediction market in America 🧵 pic.twitter.com/NsHsRwB8Ec
— Jacob Fortinsky (@j__fort) August 11, 2025
How does Novig work?
Novig makes use of a format that includes two branded on-line currencies, Novig Money and Novig Cash, used to partake in “freemium” video games, and will also be bought for sweepstakes and the buying and selling aspect of the positioning. In keeping with the Novig website, the 2 currencies are color-coded.
Novig Money, the blue foreign money, is “redeemable for actual money prizes (USD) in case your trades win; topic to playthrough necessities.” Novig Cash, the yellow foreign money, is “used solely for observe buying and selling and can’t be redeemed for actual foreign money,” in accordance with the articles posted on Novig.
The longer term appears optimistic for the sports activities prediction platform
Since its public launch in September 2024, it has achieved a reported fifty instances its authentic month-to-month buying and selling quantity, which has quickly elevated, and the net foreign money is now at 2 billion Novig money.
One of many buyers, Fawzi Itani, Principal at Forerunner, stated, “The Novig staff brings probably the most refined and nuanced perspective to sports activities prediction markets. They not solely deeply perceive their goal buyer, however are constructing a system that’s extra honest, community-oriented, rewarding, and effectively, enjoyable.”
Novig intends to increase with the brand new spherical of funding from Itani and the opposite buyers. The corporate has plans, in accordance with the release, so as to add extra sports activities to the buying and selling aspect of the platform.
“With the brand new capital, Novig plans to increase protection to extra sports activities and deepen its presence in current markets. The corporate may even launch new options, together with leaderboards, group contests, and head-to-head buying and selling,” stated the Novig launch.
It is usually trying to assist debit and bank card funds, an online app, and rent extra our bodies throughout its engineering, product, and progress groups.
Along with being the co-founder, Fortinsky operates because the prediction provider’s CEO. He spoke concerning the platform’s success, saying, “We consider customers deserve a system that rewards talent, displays true provide and demand, and offers each fan a good shot. We’ve shortly develop into the #1 sports activities prediction market within the US, and our natural progress speaks to the energy of our product and the fervour of our group.”
Featured picture credit score: Novig official.
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