Novig, a prediction market platform focused on sports event contracts, reported over $125 million in trading volume during its first week after launching on August 4.

This volume surpassed the opening week sports contract volumes of competitors like Kalshi, Polymarket U.S., Underdog, and DraftKings’ DKeX. Novig’s trading activity was led by parlays and baseball markets, with a peak daily volume of $26.3 million.

Despite regulatory challenges and ongoing lawsuits against several states over gambling laws, Novig remains committed to sports markets as NBA and Premier League seasons approach. 

Novig focuses on sports contracts, particularly ahead of the new NBA and English Premier League seasons. At the same time, other prediction market platforms are expanding their offerings with perpetual futures contracts and risk-hedging instruments. According to data published on Dune, since May, Kalshi, Polymarket, and Polymarket U.S. have dominated in terms of monthly notional trading volume among such platforms.