Overview
- Pantera Capital led the $75 million Series B and provided the super‑majority of the round, bringing Novig’s total funding to more than $100 million.
- Novig has formally applied to the Commodity Futures Trading Commission to operate as a Designated Contract Market, with the company saying a decision could come within months.
- Built as a peer‑to‑peer exchange, Novig charges no commissions to retail traders and plans to monetize institutional participants, pitching a sports‑first alternative to Kalshi, Polymarket and traditional sportsbooks.
- The company says the new capital will deepen liquidity, add more markets, roll out advanced trading tools and expand marketing to accelerate growth.
- Performance figures remain company‑ and investor‑stated, including a reported 10x volume increase in 2025 and annualized volume above $4 billion versus Forbes’ estimate of roughly $300 million in monthly volume, as well as claims that 20–23% of users are profitable.