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Novig Raises $18M Amid Acquisition Interest from Rivals

9/26/2025

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Summary

Story summary

Novig raised $18 million and draws interest from Kalshi and Polymarket for potential acquisition, though not actively for sale.
Novig operates a peer-to-peer betting platform covering major sports leagues and has seen rapid trading growth since September 2024.
Kalshi and Polymarket compete, having secured funding; Kalshi faces regulatory scrutiny, while Polymarket reenters the U.S. market after a federal probe.

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Story summary

Novig raised $18 million and draws interest from Kalshi and Polymarket for potential acquisition, though not actively for sale.
Novig operates a peer-to-peer betting platform covering major sports leagues and has seen rapid trading growth since September 2024.
Kalshi and Polymarket compete, having secured funding; Kalshi faces regulatory scrutiny, while Polymarket reenters the U.S. market after a federal probe.