Novig is making accountable buying and selling a part of the working guidelines for its federally regulated prediction market, adopting a broad framework that features a uniform minimal age of 21, customer-set limits and necessities governing advertising and marketing, platform design and the monitoring of probably dangerous exercise. The requirements are contained in a new…
Novig has launched its federally regulated sports activities prediction market platform by way of Ludlow Exchange, finishing its transition from a sweepstakes-based mannequin after months of preparation for a nationwide rollout. The up to date Novig app went stay Aug. 4 with a “Now Available Nationwide!” message telling customers, “We’re now a federally regulated change.”…
Novig is positioned to turn into the subsequent peer-to-peer sports activities buying and selling platform to maneuver from a sweepstakes mannequin right into a Commodity Futures Trading Commission (CFTC)-regulated prediction market framework, after the company authorized designated contract market (DCM) standing for Ludlow Exchange, an entity tied to the corporate. The approval got here the…
Sports prediction market platform Novig has raised $75 million in Series B funding led by crypto funding agency Pantera Capital, a transfer that comes as the corporate pushes towards federal regulatory approval that would permit nationwide operation below monetary market oversight slightly than state sportsbook licensing or sweepstakes-style working fashions. “Our mission is to democratize…