Novig trails the two biggest prediction market operators as it hits $2bn.
The hit
Novig has reportedly closed a funding round valuing the sports-only prediction market at $2bn, according to multiple outlets citing unnamed sources. That is four times its valuation from a Series B round 7.5 months ago. Actress Sydney Sweeney, who took equity instead of cash for Novig’s ad campaign, could see her undisclosed stake worth millions at the new valuation.
Why it matters
The CFTC granted Novig regulated Designated Contract Market status in June, letting it operate in 47 states. For bettors, it means more capital chasing growth, likely more marketing & product expansion before any talk of a public listing. Novig remains far smaller than the two largest prediction market operators, whose combined valuation hits $60bn.
The record
| New valuation | $2bn (unnamed sources, per multiple outlets) |
|---|---|
| Prior Series B valuation | $500m, raised $75m |
| Time between rounds | 7.5 months |
| States live | 47 of 50 (Arizona, Michigan & Nevada excluded) |
| Platform volume | $6.5bn traded by 250,000+ users (company website) |
What happens next
Watch for confirmation of the funding round’s lead investors & whether Novig expands into Arizona, Michigan or Nevada. No IPO plans have been announced, according to IPOs.fyi.
Sources: Good News for Sydney Sweeney as Novig Valuation Hits $2 Billion
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