By SectorWire desk ·
Novig reported that its federally regulated prediction market exceeded USD125m in notional trading volume in its first week. The sports-focused exchange also faces regulatory disputes in five states.
Novig’s first-week trading volume exceeded USD125m while its sports prediction exchange faces regulatory disputes in five states.
Request a correction / right of reply
Linked through shared companies, regulators and people, or one step further through the graph.
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.
Nine prediction market platforms face Connecticut cease-and-desist orders over sports event contracts offered to residents.
Operators face unresolved gaming definitions as the CFTC deliberates and Nevada and New Jersey assert authority over sports-outcome contracts.
The orders require nine prediction market companies to stop offering sports event contracts to Connecticut residents.
Connecticut’s orders require nine platforms to halt sports event contracts and other alleged unlicensed online gambling while permitting withdrawals.