Novig, the fastest growing sports trading platform in America, announced the close of a $75 million Series B round led by Pantera Capital, with participation from Multicoin Capital, Makers Fund, Edge Equity, and existing investors Forerunner, Perceptive Ventures, and NFX. The round brings Novig’s total capital raised to more than $105 million.

The funding follows a period of growth for the platform, which reported a 10x increase in trading volume during 2025. Novig’s annualized trading volume currently exceeds $4 billion.

Although sports account for the majority of activity on most prediction market platforms, those products are not built with sports traders in mind. Novig, by contrast, is built for sports fans, delivering a fair, transparent, and commission-free trading experience.

Since launch, the platform has rapidly emerged as the leading sports trading platform in the US, proving strong demand for a trader-first alternative to traditional sportsbooks. Novig has officially submitted its application to the Commodity Futures Trading Commission (CFTC) to become a licensed Designated Contract Market (DCM), a critical milestone in its transition toward becoming a federally regulated exchange available in all 50 states.

Unlike sportsbooks that operate an against-the-house model, Novig operates a commission-free, peer-to-peer exchange where traders compete against one another on a level playing field. By eliminating the hidden “vig,” unfair odds, and punitive limits on winning players, Novig has built the industry’s most equitable sports prediction platform.

“Our mission is to democratize and financialize sports markets, and we’re proud of the fact that Novig users are 10 times more likely to win than on traditional sportsbooks,” said Jacob Fortinsky, Co-Founder and CEO of Novig.

“We chose to partner with the best crypto venture firms in the world to further accelerate our plans to make Novig the most efficient and liquid sports prediction market in the world. Others are using prediction market technology to financialize new markets with unproven demand. We leverage it to fix broken markets where demand already exists.”

“Novig is proving that prediction markets can fundamentally reshape sports betting by removing the exploitative middleman,” said Paul Veradittakit, Managing Partner at Pantera Capital.

“Their peer-to-peer exchange delivers what traditional sportsbooks can’t: better odds, fairer market structure, and alignment between platform success and user profitability. When 23% of users are profitable compared to 2% on traditional platforms, it’s clear this is a foundational change to the industry. We’re excited to lead this round and support Jacob, Kelechi, and the team as they build a sports prediction market that actually puts bettors first.”

“Novig combines the cultural heartbeat of sports with the transparency and efficiency of prediction markets. Most prediction market volume today is on sports, yet those platforms weren’t built with sports or sports bettors in mind. We are delivering a better exchange that is built by sports traders, for sports traders,” said Co-Founder and CTO Kelechi Ukah.

The new capital accelerates Novig’s next phase of growth, including onboarding more institutional liquidity. Novig will utilize the investment to deepen product innovation and growth loops, launching first-of-its-kind functionality that combines the best innovation of financial markets with the excitement of live sports.

To support its next phase of growth, Novig has expanded its team to more than 50 personnel, including operators, engineers, and traders focused on developing the platform’s prediction market infrastructure and transparency features.

Gaming Laboratories International (GLI) has promoted Patrick Cottingham to Director of Client Services, North America. Previously, he served as Senior Manager of Client Services. Prior to commencing his career as an engineer with GLI, he served with the US Air Force.

Cottingham’s dedication to his clients was clearly evident both inside and outside of GLI. He transitioned to the Client Services team where he progressed and built a team laser focused on providing the very best customer service where his and his team’s clients have benefited from his engineering and gaming experience.

Ian Hughes, GLI Chief Revenue Officer, said: “We are thrilled to announce Patrick’s well-deserved promotion to Director of Client Services for North America. Patrick leads a team of dedicated and committed client services representatives who ensure our clients receive the best service during their compliance journey with GLI.”