Novig: states, fees and legal status for sports contracts
Updated
- Type
- Prediction-market exchange
- Jurisdictions
- 48 of 51 (47 states and DC)
- Contested
- 6 of those
- Taker fee model
- No taker fee on pregame sports markets (as researched)
- Minimum age
- 21+
- Availability checked
- October 5, 2026
- Offers and fees checked
- October 6, 2026
What is Novig and who regulates it?
Novig is a prediction-market exchange: you buy a yes or no contract on a game’s result, priced from 1 to 99 cents, and it pays $1 if the outcome wins. SlateProof tracks it as a hedge and arbitrage venue on equal terms with the 9 other venues it covers.
- The CFTC's designated contract market list shows Ludlow Exchange, LLC as Designated on 2026-06-16; RotoWire reports that Ludlow is the exchange entity of Novig, so 2026-06-16 is the approval date, not the launch date. Source: RotoWire, checked October 6, 2026.
- Covers reports that Novig received its designated contract market approval in June 2026 and went live nationwide on 2026-08-04, the date our availability data cites. Source: Covers, checked October 6, 2026.
Our availability data describes it this way: “A federally regulated (CFTC) exchange since 2026-08-04; its sweepstakes product has closed. 21+.” The federal regulator that oversees the exchange is not the body that licenses sportsbooks, and several states dispute that sports contracts fall under federal law, which is why this page lists the states where it is contested.
In which states is Novig available?
Novig is listed in 48 of 51 jurisdictions (47 states and DC) as of October 5, 2026, and 6 of those are contested: a court ruling, cease-and-desist or lawsuit about exchange sports contracts is pending there.
- Alabama
- Alaska
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- District of Columbia
- Florida
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- West Virginia
- Wisconsin
- Wyoming
Where is it not listed?
Not listed in Arizona, Michigan and Nevada.
Availability checked October 5, 2026; the next recheck is due October 16, 2026. Where you are when you place the bet is what counts, not where you live. Sources: deadspin.com, bettorsinsider.com, covers.com.
What age do you need to use Novig?
The minimum age is 21 in the states where Novig is listed.
The age that applies is the one in the venue’s own app for your state; it can be higher than a state’s legal minimum.
Is Novig legal where I live?
It depends on the state, and for sports contracts the answer is being decided in court. SlateProof lists Novig in 48 jurisdictions and marks 6 of them contested; those are checked October 5, 2026 and due for a recheck by October 16, 2026.
Contested states
Connecticut, Missouri, New York, Ohio, Washington and Wisconsin. Each state page lists what we have sourced about that state.
Not listed
The federal appeals court rulings so far came in Kalshi’s cases; they are listed on the Kalshi page.
What does Novig charge?
SlateProof models no taker fee at Novig on pregame sports markets, as researched and checked October 6, 2026. The cost is the spread between the price you can buy at and the fair price.
| Contract price | Same price as American odds | Fee per $1 contract | Effective decimal after fee | Effective American odds | Break-even win rate |
|---|---|---|---|---|---|
| $0.20 | +400 | none | 5.0000 | +400 | 20.00% |
| $0.50 | +100 | none | 2.0000 | +100 | 50.00% |
| $0.80 | -400 | none | 1.2500 | -400 | 80.00% |
| $0.90 | -900 | none | 1.1111 | -900 | 90.00% |
Worked example. 100 contracts at $0.80 cost $80.00 and pay $100.00 if the outcome wins: a profit of $20.00, with no fee in SlateProof’s model.
- Novig's help center fee schedule lists no fee for makers or takers on pre-game straight trades in the app and website; live in-game straight trades carry a taker fee with a 0.03 coefficient on price times (1 minus price) per contract (0.06 for NCAAF spreads and totals). Source: Novig Help Center, Fees on Novig, checked October 6, 2026.
The table uses SlateProof’s own fee model per $1 contract. Your actual order can differ through rounding, maker and taker status and the venue’s current schedule, which the venue’s own fee page controls.
What sign-up credit does SlateProof track for Novig?
Novig has no recurring promotion that most customers receive, so SlateProof prices it as a hedge venue and for its sign-up credit.
Sign-up credit
| Offer | Where it applies | Ends | Terms we recorded | Checked |
|---|---|---|---|---|
| Novig: deposit $10, get $50 in trade credits | Everywhere Novig operates | No end date stated | Deposit $10; you get ten $5 credits. Each $5 credit is used whole on one trade priced $0.01-$0.60 (about +9900 to -150); winnings are withdrawable. Credits last 30 days. No fees on pregame straight trades. Minimum age 21. | October 6, 2026 |
Amounts are the catalog’s, not a promise that your account is offered them. Credits usually cannot be withdrawn, only what they win. The offer in the app is the one that counts.
How do bets at Novig settle when something unusual happens?
Exchange contracts settle by each exchange’s own rules, and those differ from a sportsbook’s in the cases that matter for a hedge or arbitrage.
- A player who does not play. Exchanges do not refund like a sportsbook. Novig may grade it No; SlateProof records no settled rule for it, so confirm the contract’s rules. If the other leg is at a sportsbook that voids, one leg can lose.
- A postponed game. On exchanges a postponed game settles at the last fair price, not as a refund.
- An NFL tie. A tied NFL game pushes at the sportsbook but pays $0.50 per contract on exchanges.
- Scope of the market. Confirm that an NHL contract includes overtime and the shootout as a sportsbook does, and that a soccer contract is the 90-minute result, not a full match with extra time.
- A whole-number line. Exchanges may not refund a push, so SlateProof blocks that mix.
- Two exchange legs. When both legs are exchange contracts, confirm that each names the same game and settles on the same result source and deadline.
These are the cases SlateProof’s arbitrage checks flag. The venue’s own rules are the final word, and a locked profit holds only if every leg is accepted and settles as expected.
How does SlateProof use Novig?
SlateProof uses Novig as a hedge and arbitrage venue and a source of reference prices, under the same rules as every other venue.
- Its own price never sets its own fair value: each quote is screened against a fair value built without it and the books that copy it, and no venue is the main one.
- Its taker fee is in every stake SlateProof shows, an exchange leg needs resting depth (which caps the stake), and a quote whose two sides add up to 100% is a midpoint, not a price you can buy at.
- SlateProof never places a bet or a trade for you.
Official site, guides and calculators
Terms, your state’s availability and your own offers are final on the official site: official Novig site. SlateProof is not affiliated with Novig and earns nothing from a click.
- Prediction markets and sportsbooks: legality, fees and risks
- Arbitrage betting explained
- Arbitrage calculator with exchange fees
- Hedge calculator
- Odds converter for contract prices
Compare with the other exchanges SlateProof tracks: Kalshi, Polymarket US, ProphetX, or see all tracked exchanges and the state-by-state table.
See today’s plays at your venues
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