Novig bars users under 21 as it rolls out responsible trading rules

Jacob Fortinsky’s sports-trading platform Novig entered the market with $18 million in trading on day one and immediately introduced a "responsible trading framework" that raises the participation age to 21. The updated rulebook prohibits any marketing aimed at minors and bars promotional language that suggests no risk or exploits financial hardship, even limiting its TikTok ads to users over 21. Fortinsky frames the policy as a pre-emptive step against the perceived vulnerability of teen traders, citing pressure from groups such as the NCAA.

Novig’s focus on sports contracts keeps it out of politically sensitive markets, but it has become entangled in the broader regulatory clash over prediction markets, suing New York, Massachusetts, New Mexico and Washington to block state gambling statutes. Legal experts note that recent court rulings have favored state attorneys general, and the dispute may eventually reach the Supreme Court. Meanwhile, Novig markets its peer-to-peer model as a "no vig" alternative to traditional sportsbooks and is courting banks and proprietary trading firms to provide liquidity.