Novig has submitted plans to the Commodity Futures Trading Commission (CFTC) to launch a variety of sports event contracts, suggesting that the company is on the verge of making these derivatives available to both bettors and traders.
As per a review of regulatory filings available on Ludlow Exchange’s platform, there are currently 68 submissions recorded with the CFTC – the overseeing authority for prediction markets – with 58 focusing specifically on various sports, including golf, Major League Baseball, the NFL, tennis, UFC, and the WNBA.
In January, Novig established Ludlow Exchange, indicating its intent to consolidate its prediction market operations rather than relying on external partnerships. This strategy is gaining momentum within the prediction market sector.
Recently, the CFTC granted Novig the Designated Contract Market (DCM) designation, enabling the company to provide event contracts across the nation. The platform is operational in 42 states at the moment.
An Overview of Novig Filings
On Thursday, Ludlow Exchange submitted CFTC filings for event contracts related to WNBA game outcomes and head-to-head matchups on the PGA Tour. Although the regulatory paperwork does not specify launch dates, they do illustrate the anticipated contracts, highlighting a WNBA game scheduled for July 28 and a PGA event on August 6.
Other filings submitted on July 23 include event contracts for men’s and women’s professional tennis, baseball, football, and UFC. Notably, the NFL contract filed by Ludlow Exchange serves as the prediction market equivalent of player proposition bets.
“Upon entering the contract, a participant forecasts whether a selected player or team will achieve a defined statistical threshold, such as passing yards, rushing touchdowns, or tackles, within a specified game period, contrasting the official total against a predetermined figure using terms like above, below, at least, exactly, or between,” as outlined in the regulatory document.
With the commencement of the 2026 NFL season merely seven weeks away, Novig’s initiative to introduce NFL event contracts is particularly significant, given that football holds the title of the most bet-on sport in the U.S. The upcoming season is poised to substantially boost activity on yes/no exchanges.
Novig’s Sports-Centric Strategy
Founded in 2021 as a peer-to-peer exchange, Novig possesses the essential foundation to emerge as a formidable force in the highly competitive prediction market landscape. As previously reported, the company has already processed $5 billion in volume since 2025.
This privately owned firm, which has successfully secured $105 million through two investment rounds, is primarily geared towards sports. This focus likely suggests that its competitive strategy is aimed at traditional sportsbook operators rather than all-or-nothing exchanges featuring extensive menus of event contracts.