By SectorWire desk ·
The report said that Novig launched a federally regulated sports prediction market across 47 states. The business completed its transition from a sweepstakes sportsbook after securing CFTC exchange designation.
The launch adds a federally regulated sports event-contract exchange to the US market.
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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 lawsuits place Novig’s new prediction market platform in disputes with four states.