Novig Opens New Legal Front Over Wisconsin Prediction Markets

TLDR

• Novig sued Wisconsin Attorney General Josh Kaul and gaming administrator John Dillett over potential action against its sports contracts.

• The prediction market argues its sports contracts fall under federal CFTC oversight rather than Wisconsin gambling laws.

• Wisconsin had already sued Kalshi, Polymarket, Robinhood, Crypto.com and Coinbase over similar sports-related contracts.

• Ludlow Exchange, Novig’s operating subsidiary, received designated contract market status from the CFTC on June 16.

• Wisconsin became the fifth state Novig has sued since August 4, following cases in New York, New Mexico, Massachusetts and Washington.

Prediction market Novig has sued Wisconsin Attorney General Josh Kaul and gaming administrator John Dillett over the state’s treatment of sports event contracts. The company filed the case on Friday, seeking federal court protection before Wisconsin takes possible enforcement action against its platform.

Prediction Market Novig Challenges Wisconsin

Ludlow Exchange LLC, the Novig unit that runs the exchange, filed the 45-page complaint in the U.S. District Court for the Western District of Wisconsin. Novig began offering sports event contracts to Wisconsin customers the previous week.

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