Sports prediction market Novig raises $75 million in Series B funding, led by Pantera Capital.

PANews reported on February 18 that, according to Fortune magazine, Novig, a sports prediction market platform, announced the completion of a $75 million Series B funding round led by Pantera Capital, valuing the company at $500 million.

Novig co-founder Jacob Fortinsky stated that the company, founded in 2021, aims to create a consumer-friendly platform for modern sports bettors, with its core advantage lying in its peer-to-peer trading model. Novig is currently applying for a license from the U.S. Commodity Futures Trading Commission, which is expected to be completed within six months. Fortinsky emphasized that unlike platforms such as Kalshi and Polymarket, Novig's product design and brand positioning are centered around sports events, making it more suitable for the usage habits of ordinary sports fans.