By SectorWire desk ·
Novig reported $128m in trading volume during its first week offering prediction markets. The startup claimed this was almost 20 times Kalshi’s volume when it introduced sports event contracts in early 2025.
Novig’s reported $128m opening-week trading volume gives investors a launch benchmark against its claimed comparison with Kalshi.
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Sports trading helped prediction market operators exceed their previous monthly volume record.
Recipients face possible administrative, civil or criminal proceedings if they disregard the commission’s demands.
Operators face unresolved gaming definitions as the CFTC deliberates and Nevada and New Jersey assert authority over sports-outcome contracts.
Kalshi’s sponsorships expand MLB prediction market partnerships, with four new partners playing in states that prohibit sports betting.
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.