Novig, founded by Jacob Fortinsky and Kelechi Ukah, is a peer-to-peer sports prediction exchange on a notable trajectory. After starting as a state-licensed betting shop and then a sweepstakes model, the company filed for CFTC registration as Ludlow Exchange and raised a $75 million Series B led by Pantera Capital, aiming to operate nationally as a regulated exchange.
Novig pitches an exchange as a structurally better deal for bettors — claiming users are far more likely to win than on a traditional sportsbook — thanks to deeper liquidity and tighter spreads. The key caveat is that full CFTC approval is still pending.