Novig Valuation Hits $2 Billion After Sports-Only Pivot
Novig raised new funding to reach a $2 billion valuation following a strategic pivot to a sports-focused prediction market model.
Novig reached a $2 billion valuation after raising new funding from existing investors, including Pantera Capital, Multicoin Capital, and NFX. The valuation represents a fourfold increase from the company's $500 million valuation earlier this year.
The company shifted its business model in 2026, transitioning from an in-house trading team to a regulated prediction market in June. This pivot was supported by a marketing campaign featuring equity partner Sydney Sweeney, who promoted a model focused exclusively on sports. Sweeney emphasized that the platform excludes politics, wars, and deaths, describing the experience as "Just you, your takes and sports."
Novig expanded its industry presence in July by establishing a partnership with the New York Mets. This agreement marks the first time a Major League Baseball team has partnered with a prediction market.
