Novig filed an application to register as a designated contract market with the Commodity Futures Trading Commission, as part of a plan to become federally regulated. The available text does not give further details about the application.
The application concerns Novig’s proposed route to federal regulation in the prediction-markets sector.
| Date | Company | Amount | Story | Appeal status |
|---|---|---|---|---|
| FanDuel, CME Group | Not stated | FanDuel expands Predicts to all 50 US states | Not stated | |
| Matchbook | Not stated | Matchbook prepares UK prediction-market launch while awaiting US licence | Not stated | |
| Gemini | Not stated | Gemini launches prediction markets across 50 US states | Not stated | |
| Gemini | Not stated | CFTC approves Gemini as a designated contract market in the US | Not stated | |
| DraftKings | Not stated | CFTC and NFA approve DraftKings entity as introducing broker | Not stated |
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Novig said the Commodity Futures Trading Commission approved its registration as a designated contract market, enabling it to offer event contracts. The company plans to introduce sports markets across the United States but has not named initial states; it has set a minimum user age of 21.
Robinhood and Polymarket filed separate federal lawsuits seeking to stop Missouri officials from enforcing gambling laws against their sports event contracts. Both argue that federal commodities law gives the Commodity Futures Trading Commission exclusive jurisdiction; Missouri Attorney General Catherine Hanaway has separately filed counterclaims alleging Novig violated federal and state laws.
Robinhood and Polymarket filed separate federal lawsuits seeking to stop Missouri officials from applying gambling laws to their sports event contracts. Both companies argue that the Commodity Futures Trading Commission (CFTC) has exclusive jurisdiction over the products, rather than state gambling regulators.
Ohio’s Casino Control Commission says five of the 10 companies it targeted over sports event contracts have complied with its cease-and-desist instructions. Robinhood, Gemini and Moomoo Financial have withdrawn their offers in Ohio, joining Coinbase and Plus500US; Polymarket and Underdog Predict are challenging the commission in court.
Half of the 10 companies targeted by enforcement have complied, according to the report. The Ohio Casino Control Commission considers sports event contracts illegal under local laws and has sent cease-and-desist letters to companies offering them in the state.
Ohio's Casino Control Commission confirmed that Robinhood, Gemini and Moomoo Financial had stopped offering new sports event contracts to Ohio customers, while Coinbase agreed to halt them by 13 November. The four firms join Plus500US in complying with cease-and-desist orders issued to 10 operators; two others have sued Ohio and three remain in discussions with the commission.
Ohio's Casino Control Commission confirmed that Robinhood, Gemini and Moomoo Financial had stopped offering new sports event contracts to customers in the state. Coinbase has agreed to halt its offerings by 13 November. The commission confirmed that Plus500US complied with its order on 21 October.
Novig promoted founding engineer Ari Hirsch to its first chief product officer, according to the report. The company was also recruiting for a chief fan officer role in its marketing department.
Novig has promoted founding engineer Ari Hirsch to the role of chief product officer, the report said. The report describes the position as the first of its kind at the company.