{"id":1069,"date":"2025-09-26T14:51:13","date_gmt":"2025-09-26T14:51:13","guid":{"rendered":"http:\/\/www.chuckwardrealestate.com\/?p=1069"},"modified":"2025-10-06T11:57:00","modified_gmt":"2025-10-06T11:57:00","slug":"novig-drawing-takeover-interest-including-from-kalshi-polymarket","status":"publish","type":"post","link":"http:\/\/www.chuckwardrealestate.com\/index.php\/2025\/09\/26\/novig-drawing-takeover-interest-including-from-kalshi-polymarket\/","title":{"rendered":"Novig Drawing Takeover Interest, Including From Kalshi, Polymarket"},"content":{"rendered":"<ul>\n<li><strong>Various suitors, including Kalshi and Polymarket, have expressed interest in potentially buying Novig<\/strong><\/li>\n<li><strong>Unknown if formal offers were made<\/strong><\/li>\n<li><strong>Novig runs a peer-to-peer prediction exchange<\/strong><\/li>\n<\/ul>\n<hr \/>\n<p>Novig, the operator of a US peer-to-peer sports prediction market, is reportedly garnering takeover interest from various companies, including larger rivals Kalshi and Polymarket.<\/p>\n<figure id=\"attachment_359906\" aria-describedby=\"caption-attachment-359906\" data-style=\"width: 430px\" class=\"wp-caption alignright\"><img loading=\"lazy\" class=\"wp-image-359906 size-post-thumbnail-430xAUTO lazyload\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" alt=\"Novig\" width=\"430\" height=\"323\" data-src=\"http:\/\/www.chuckwardrealestate.com\/wp-content\/uploads\/2025\/09\/novig2-430x323-1.jpg\"><figcaption>Novig, a peer-to-peer sports prediction market, has reportedly drawn takeover interest. (Image: YouTube)<\/figcaption><\/figure>\n<p><strong><em>Front Office Sports<\/em> <a href=\"https:\/\/frontofficesports.com\/kalshi-polymarket-sought-to-buy-prediction-markets-platform-novig\/\">broke the story<\/a>, reporting that \u201cmultiple suitors,\u201d including Kalshi and Polymarket, have in recent weeks kicked the tires on buying Novig, but it\u2019s not clear if offers were made. Citing an unidentified source familiar with the matter, the publication adds Novig isn\u2019t actively shopping itself.<\/strong><\/p>\n<p>Founded by Jacob Fortinsky and Kelechi Ukah, Novig is <a href=\"https:\/\/www.novig.us\/\">available in more than 40 states<\/a>, including California and Texas, <a href=\"https:\/\/www.casino.org\/news\/florida-ruling-could-doom-california-sports-betting-says-analyst\/\">neither of which<\/a> currently permits traditional sports wagering. Last month, the company announced <a href=\"https:\/\/www.casino.org\/news\/novig-raises-18-million-in-series-a-funding-round\/\">it raised $18 million<\/a> in a Series A funding round. That capital raise was led by Forerunner with participation from existing investors Gaingels, NFX, Perceptive Ventures, and Y Combinator.<\/p>\n<h2>Novig Takeover Interest Credit to the Company<\/h2>\n<p>Assuming the report that bidders are interested in Novig is accurate, it\u2019s arguably a credit to the company because it launched publicly just a year ago.<\/p>\n<div class=\"callout\">\n<p>As a result, it\u2019s one of the smaller players in the prediction markets space. According <a href=\"https:\/\/dune.com\/dunedata\/prediction-markets?utm_campaign=69290222-DuneDigest&amp;utm_medium=email&amp;_hsenc=p2ANqtz-87F5oScyZiHvPtzZsSQ9Ng42rf27bKVTjIHc6ZsRcTlQDbZjf7AeYVML2I-s_z_h5Q6BykIcL6I6DpLQJHzqK1OoLTtV4LNqfvlq2zgCgw1VPNlUI&amp;_hsmi=117773142&amp;utm_content=117773142&amp;utm_source=hs_email\">to data from Dune Analytics<\/a>, the top prediction markets as of last week, as measured by weekly notional volume, were Kalshi, Polymarket, Limitless, and Myriad. Largely dominated by Kalshi and Polymarket, that quartet also leads across other metrics, including open interest, overall volume, weekly transactions, and weekly users.<\/p>\n<\/div>\n<p>Despite its lack of size relative to Kalshi and Polymarket, Novig could make for a credible takeover target for multiple reasons, including the desire of gaming companies to possibly enter the event contracts arena. FanDuel owner Flutter Entertainment (NYSE: FLUT) already announced a related move, prompting analysts and investors to speculate it\u2019s just a matter of time before rival DraftKings (NASDAQ: DKNG) <a href=\"https:\/\/www.casino.org\/news\/draftkings-prediction-markets-entry-could-differ-from-fanduel\/\">does the same<\/a>.<\/p>\n<p><em>Front Office Sports<\/em> reports \u201cother companies\u201d have expressed interest in Novig, but those firms weren\u2019t identified in the article.<\/p>\n<h2>Novig Has More Selling Points<\/h2>\n<p>For gaming and prediction market suitors alike, Novig offers other sources of attraction, including the fact that its contracts revolve entirely around sports. Unlike Kalshi and Polymarket, Novig doesn\u2019t offer derivatives on financial asset prices, economic data, or pop culture events.<\/p>\n<div class=\"callout\">\n<p>Additionally, Novig\u2019s peer-to-peer model, under which clients compete against each other and not the company, has the potential to allay some regulatory concerns while creating a more devoted customer base. The company recently said more than 90% of trades processed on the platform are executed in peer-to-peer fashion.<\/p>\n<\/div>\n<p>Speaking of regulatory issues, sportsbook operators are treading carefully when it comes to prediction markets because they don\u2019t want to run afoul of <a href=\"https:\/\/www.casino.org\/news\/lying-little-twerp-indian-gaming-association-chair-no-fan-of-kalshi-ceo\/\">state regulations<\/a>. To little fanfare, Novig recently left New Jersey, and that could be taken into consideration by prospective buyers from the gaming industry because those suitors wouldn&#8217;t want to jeopardize sports betting licenses in that state.<\/p>\n<p>The post <a href=\"https:\/\/www.casino.org\/news\/novig-drawing-takeover-interest-including-from-kalshi-polymarket\/\">Novig Drawing Takeover Interest, Including From Kalshi, Polymarket<\/a> appeared first on <a href=\"https:\/\/www.casino.org\/news\">Casino.org<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Various suitors, including Kalshi and Polymarket, have expressed interest in potentially buying Novig Unknown if formal offers were made Novig runs a peer-to-peer prediction exchange Novig, the operator of a US peer-to-peer sports prediction market, is reportedly garnering takeover interest from various companies, including larger rivals Kalshi and Polymarket. Novig, a peer-to-peer sports prediction market, has reportedly drawn takeover interest. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1071,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[12],"tags":[],"_links":{"self":[{"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/posts\/1069"}],"collection":[{"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/comments?post=1069"}],"version-history":[{"count":2,"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/posts\/1069\/revisions"}],"predecessor-version":[{"id":1072,"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/posts\/1069\/revisions\/1072"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/media\/1071"}],"wp:attachment":[{"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/media?parent=1069"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/categories?post=1069"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/tags?post=1069"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}