Story perspectives

Novig Raises $75 Million for Peer-to-Peer Sports Betting

2/19/2026

Summary

Story summary

Novig, a new sports betting platform founded by Jacob Fortinsky and Kelechi Ukah, has raised $75 million to compete with Kalshi and Polymarket.
Novig aims for a consumer-friendly, peer-to-peer betting experience that claims to offer better odds by removing the house advantage.
Novig is commission-free for retail traders, unlike Kalshi which charges user fees.
Ethical concerns about sports betting persist because critics view prediction markets as gambling.

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Story summary

Novig, a new sports betting platform founded by Jacob Fortinsky and Kelechi Ukah, has raised $75 million to compete with Kalshi and Polymarket.
Novig aims for a consumer-friendly, peer-to-peer betting experience that claims to offer better odds by removing the house advantage.
Novig is commission-free for retail traders, unlike Kalshi which charges user fees.
Ethical concerns about sports betting persist because critics view prediction markets as gambling.