Novig Launches Federally Regulated Prediction Market on Heels of First-of-its-Kind Mets Partnership

• Novig today launched its federally regulated prediction markets
• Novig received Designated Contract Market certification from the Commodity Futures Trading Commission in June
• The launch comes less than a week after Novig announced a new partnership with the New York Mets

Novig has had one hell of a week.

Five days after being announced as an exclusive official prediction market partner of the New York Mets, Novig today launched its federally regulated prediction market throughout the U.S.

Novig received Designated Contract Market certification from the Commodity Futures Trading Commission on June 16.

Federally-Regulated DCM

Novig applied for DCM status with the CFTC in January of this year. According to the company, the CFTC approval “represents one of the fastest designations of its kind in CFTC history and reflects growing momentum behind exchange-based models that prioritize fairness, transparency, and integrity.”

The company has maintained its 21-and-up age requirement as it rolls out throughout the country.

Novig only offers sports event contracts on its platform. After receiving its DCM status, Novig noted it would welcome new CFTC-regulated safeguards to its platform that are “more commonly associated with financial markets, including enhanced market surveillance, protections against manipulation and insider activity, and comprehensive compliance standards designated to protect participants.”

Novig will now have to participate with the likes of Kalshi, Polymarket, and the recently-approved ProphetX in the crowded work of prediction markets. Novig, however, will do so as an official prediction market partner of the New York Mets.

Novig Mets Partnership in Full Swing

Novig and the New York Mets announced an exclusive partnership on July 30, the first of its kind between an MLB franchise and a prediction market operator.

The multi-year partnership will see Novig as the exclusive official prediction market partner of the New York Mets, which will include Novig being integrated across the team’s ecosystem through a portfolio of in-ballpark, broadcast, digital and social activations. This includes Citi Field signage, Novig branded in-game moments, and original digital content.

“We’re proud to be the first Major League Baseball club to partner with a prediction market company, giving our fans a new and engaging way to connect with the game,” Lew Sherr, president of business operations for the New York Mets, said in a released statement. “Innovation is a defining characteristic of our business, and this partnership is another example of our commitment to staying at the forefront of the evolving sports landscape. It reflects our broader goal of delivering unique experiences for our fans and continuing to attract industry-leading partners who want to grow alongside the Mets.”