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Novig Raises $75M in Series B Funding

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Publish Date: Feb 19, 2026

Fact checked by: Sara Jane Gamelli

Key Points

New York-based sports trading sweepstakes platform Novig announced Wednesday it has raised $75 million in a Series B round
Funding was led by Pantera Capital
To date, Novig has raised more than $105M, with company valuation at $500M

New York-based sports trading sweepstakes platform Novig announced Wednesday it has raised $75 million in a Series B round led by Pantera Capital, with additional participation from Multicoin Capital, Makers Fund, Edge Equity, and existing investors Forerunner, Perceptive Ventures, and NFX.

To date, Novig has raised over $105 million and the company has skyrocketed to a value of about $500 million.

Novig operates a commission-free, peer-to-peer exchange designed for sports traders, utilizing an order-book model to provide market-driven odds. Last year alone, the company saw 10X growth in trading volume and currently their annualized trading volume exceeds $4 billion.

“Our mission is to democratize and financialize sports markets, and we’re proud of the fact that Novig users are 10 times more likely to win than on traditional sportsbooks,” said Jacob Fortinsky, Co-Founder and CEO of Novig in a news release. “We chose to partner with the best crypto venture firms in the world to further accelerate our plans to make Novig the most efficient and liquid sports prediction market in the world. Others are using prediction market technology to financialize new markets with unproven demand. We leverage it to fix broken markets where demand already exists.”

Rapid Growth

Novig has officially applied to the Commodity Futures Trading Commission (CFTC) to become a licensed Designated Contract Market (DCM). If approved, this would make them a federally regulated exchange available legally in all 50 states, similar to the popular prediction markets Kalshi and Polymarket.

The new influx of money will help Novig expand their sports and event offerings, implementing better tools for their traders for a better user experience. They have also expanded with more than 50 employees, including operators, engineers, and traders.

“Novig is proving that prediction markets can fundamentally reshape sports betting by removing the exploitative middleman,” says Paul Veradittakit, Managing Partner at Pantera Capital. “Their peer-to-peer exchange delivers what traditional sportsbooks can't: better odds, fairer market structure, and alignment between platform success and user profitability. When 23% of users are profitable compared to 2% on traditional platforms, it's clear this is a foundational change to the industry. We're excited to lead this round and support Jacob, Kelechi, and the team as they build a sports prediction market that actually puts bettors first.

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