By SectorWire desk ·
The report said that Novig sued New York, Massachusetts, Washington and New Mexico after launching its standalone prediction market platform. The platform launched nationwide under CFTC regulation, according to the report.
The lawsuits place Novig’s new prediction market platform in disputes with four states.
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Operators face unresolved gaming definitions as the CFTC deliberates and Nevada and New Jersey assert authority over sports-outcome contracts.
The court-linked sports shutdown limits Kalshi’s market offering in Washington State.
The lawsuit contests whether Wisconsin’s gambling laws apply to Novig’s sports contracts or federal commodities jurisdiction takes precedence.
The filed rules would add a uniform minimum age and further trading protections at Ludlow Exchange.
The framework brings responsible-trading requirements into Novig’s exchange operations.
The launch introduces a federally overseen sports prediction platform restricted to adults aged 21 and above.