Published on: February 18, 2026, 11:31h.
Updated on: February 18, 2026, 11:31h.
- Novig’s most recent capital infusion totaled $18 million in August 2025
- The company asserts clients have a tenfold higher chance of winning compared to conventional sportsbooks
- Novig has successfully garnered $105 million in under two years
Novig, a leader in the US market for peer-to-peer sports predictions, has revealed today that it raised $75 million in a Series B funding round spearheaded by Pantera Capital, resulting in a company valuation of $500 million.
This new round exceeds the $18 million raised in its Series A round last August and brings Novig’s overall fundraising total to $105 million since its establishment in late 2024. Alongside Pantera, other investors contributing to this round include longstanding supporters Forerunner, NFX, and Perceptive Ventures, as well as newcomers Edge Equity, Makers Fund, and Multicoin Capital.
True to its name, Novig eliminates the “vig” typically associated with sports betting. The company champions itself as a fairer alternative to traditional wagering, promoting a “trader-first” approach.
By removing the intermediary, we have established the most equitable sports trading platform in the market — where users are regarded as traders, not mere customers,” co-founder and CEO Jacob Fortinsky stated in a blog post. “This results in Novig users having up to 10x higher winning odds over time compared to standard sportsbooks, and they will not face bans simply for being successful.”
Founded by Fortinsky and Kelechi Ukah, Novig operates in over 40 states, including California and Texas, both of which currently do not allow traditional sports wagering.
Pantera Optimistic About Novig’s Prospects
Pantera has consistently pointed out the potential for prediction market operators in the sports betting sector, reinforcing its positive outlook.
In a recent post on X discussing Novig’s funding, Mason Nystrom, a junior partner at Pantera, noted that sports event contracts can account for up to 90% of the transaction volume in some prediction markets, emphasizing that the “badly flawed” traditional betting industry fuels this drive. He points out that Novig’s innovative approach offers clients far superior odds.
This market structure results in enhanced odds for users, with Novig offering odds that are 5% better when contrasted with traditional platforms,” Nystrom observed. “This leads to greater opportunities for traders, evident in statistics showing that 23% of Novig users are profitable, as opposed to only 2% on traditional platforms. Moreover, as Novig operates on a peer-to-peer model, users can even set their own odds in selected markets.”
Novig’s latest funding comes just six months after speculation arose regarding the company as a potential acquisition target, with competitors such as Kalshi and Polymarket reportedly considering a buyout of this innovative sports wagering platform.
Growing Interest in Prediction Markets
The current rhythm of capital influx into prediction markets is lively, with venture capitalists increasingly supporting smaller firms in the sector.
In addition to Novig’s news, Opinion Labs, the entity behind the Opinion Trade prediction market, announced a successful $20 million raise from various investors in a pre-Series A round last week. Meanwhile, Kairos, which aims to create a unified terminal for professional traders in the prediction markets, secured $2.5 million from a funding round led by a16z crypto.
With valuations for Kalshi and Polymarket exceeding $10 billion, venture investors may find more appeal in smaller prediction market firms for better value and favorable terms that smaller yes/no exchanges can provide.