Novig to adopt federal DCM framework and expand nationwide this summer
Updated
Updated · CoinDesk · May 9
Novig to adopt federal DCM framework and expand nationwide this summer
7 articles · Updated · CoinDesk · May 9
Speaking at Consensus Miami 2026, CEO Jacob Fortinsky said Novig will move from a 35-state sweepstakes model to all 50 states.
He argued sports betting should be regulated as a financial product because traditional sportsbooks limit or ban successful bettors, while trader Adam Mastrelli said he was barred by two major operators.
Fortinsky said the legal clash over sports event contracts could reach the Supreme Court within two to three years, amid 15 pending lawsuits involving the CFTC, Kalshi, Robinhood and states.
With courts and Congress clashing, who will ultimately control the $2 trillion sports betting market: federal regulators or individual states?
Is sports betting evolving into a legitimate financial asset or a regulatory loophole for high-tech gambling?
Will treating sports wagers like stocks empower skilled bettors or introduce complex new risks for the average fan?