Novig lands exclusive MLB partnership with New York Mets
In brief
- Novig signed exclusive multi-year deal with Mets, first MLB partnership for any prediction market platform
- Platform operates commission-free with $5 billion cumulative trading volume since January 2024 launch
- Novig secured $105 million funding including $75 million Series B at $500 million valuation
- CFTC Designated Contract Market approval gives Novig regulatory edge over Polymarket and Kalshi
Regulatory Momentum
[Novig received CFTC designation as a Designated Contract Market in June 2026], a regulatory approval that distinguishes it from competitors like Polymarket, which has faced ongoing US regulatory scrutiny. The speed of approval suggests regulators are becoming more comfortable with the prediction market model itself.
[Kalshi holds similar CFTC approval and has been expanding its contract offerings], but it hasn't secured a major sports franchise partnership. Robinhood brought prediction markets to millions of users, yet treats them as a feature rather than a core product. None of these competitors have landed an exclusive deal with a professional sports league.
The Platform and the Partnership
[Novig operates as a peer-to-peer exchange with no commission fees], where users trade directly against each other rather than betting against the house. The platform makes money on spreads. Since launching in January 2024, the platform has accumulated over $5 billion in trading volume with an annualized run rate exceeding $8 billion.
The Mets partnership comes with MLB-authorized status. This access to official league data is significant — it gives Novig a structural advantage over decentralized competitors and legitimizes the platform within mainstream sports.
Co-founder Jacob Fortinsky is a lifelong Mets fan, and he and co-founder Kelechi Ukah built the platform around the thesis that prediction markets offer a fundamentally better model than traditional sportsbooks. The Mets deal validates that thesis in the mainstream sports world.
Funding and Scale
[Novig has raised over $105 million in total funding, including a $75 million Series B round led by Pantera Capital in February 2026] that valued the platform at $500 million. That capital supports the infrastructure and regulatory compliance required to operate in the sports betting ecosystem.
The Mets partnership could accelerate adoption of prediction markets beyond crypto-native audiences. If successful, it may prompt other MLB teams and leagues to explore similar deals, reshaping how sports betting and prediction markets integrate into mainstream entertainment.
