Novig said it closed a $75 million Series B, led by Pantera Capital, with participation from other new and existing investors. The company has applied to the Commodity Futures Trading Commission for Designated Contract Market status as it seeks to enter sports prediction markets; its total funding now exceeds $105 million.
The raise funds Novig as it pursues federal approval for a sports prediction market.
The day’s most important stories, free. One email a day.
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.
Sportradar said its US revenue rose 47% to €98 million in the third quarter, with prediction-market partnerships contributing financially for the first time. Overall revenue increased 24% to €363 million, while adjusted EBITDA rose 21% to €102 million. Chief executive Carsten Koerl said the company served Kalshi, Polymarket, Novig and Robinhood.
Sportradar reported that US revenue rose 47% year on year to €98m in Q3 2026, which the company attributed partly to growing demand from prediction-market businesses. Chief executive Carsten Koerl said the impact of states excluding markets was not material to the company, citing contract terms that restrict content use where those products cannot be offered.
U.S. revenue rose 47% to €98m ($109.7m) in Q3 2026, against Q3 2025. Growing work in the prediction markets industry fueled the 47% year-over-year increase in Sportradar’s U.S. revenue in Q3. CEO Carsten Koerl said he does not worry about more states excluding sports event contracts.
Reportedly, the Commodity Futures Trading Commission has paused micro contracts offered by Novig and ProphetX. The Novig products covered the first points scored in basketball games, while the ProphetX products were scorigami contracts.
Novig's micro contracts on the first points scored in basketball games were paused by the Commodity Futures Trading Commission. The same regulator also paused scorigami contracts offered by ProphetX.
The Ohio Casino Control Commission has told sports betting and fantasy contest licensees and applicants that providing services to prediction market operators may affect their suitability. Interim executive director Andromeda Morrison said licensees must confirm compliance with the notice by 30 October. The commission issued cease-and-desist letters to 10 prediction market companies after a Sixth Circuit ruling allowed Ohio to enforce its gaming laws against Kalshi.
The Ohio Casino Control Commission has sent a notice to sports betting and fantasy contest licensees and applicants in the state warning that providing services to prediction market operators may affect their suitability. Andromeda Morrison, the commission's interim executive director, told the seven-member Commission on Wednesday that licensees and applicants must confirm compliance with the notice by 30 October. The notice was first reported by The Event Horizon newsletter.