By SectorWire desk ·
The report said that Novig submitted responsible-trading rules for Ludlow Exchange to CFTC on 12 August. The framework sets a minimum age of 21, adds risk disclosures and restricts marketing; it takes effect no earlier than the tenth business day after filing.
The filed rules would add a uniform minimum age and further trading protections at Ludlow Exchange.
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The lawsuit contests whether Wisconsin’s gambling laws apply to Novig’s sports contracts or federal commodities jurisdiction takes precedence.
Novig’s lawsuit seeks continued Wisconsin operations by asserting federal derivatives regulation over its sports event contracts.
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 framework brings responsible-trading requirements into Novig’s exchange operations.
The lawsuits place Novig’s new prediction market platform in disputes with four states.