Yes, Novig is legal to trade on. Novig operates a CFTC-regulated prediction market — the contracts you trade are regulated as financial derivatives under federal commodities law, overseen by the Commodity Futures Trading Commission (CFTC). This is the same basic regulatory category that governs other exchange-traded derivatives, like futures and options.
Because the CFTC's authority comes from federal law, Novig's legal basis for operating rests on federal regulation rather than the state-by-state licensing a sportsbook needs.
Where Novig operates
Novig is available nationwide, with the exception of Nevada, Arizona, and Michigan. If you're physically located in either of those states, you won't be able to open an account or place trades, regardless of your state of residency.
Eligibility is based on your physical location at the time you trade — not your billing address, mailing address, or state of residency. If you live in an eligible state but are physically in Nevada, Arizona, or Michigan (for example, while traveling), you won't be able to trade until you're back in an eligible location. The reverse is also true: if you live in Nevada, Arizona, or Michigan but are physically located in an eligible state, you can trade.
Novig checks your device's physical location each time you open the app to trade. Make sure location permissions are enabled for the Novig app; if they're disabled, you may be blocked from trading even while physically in an eligible state.
Who can trade
To trade on Novig, you must:
Be 21 or older
Be physically located in an eligible jurisdiction at the time you trade
Complete identity verification (KYC), including your legal name, date of birth, address, and in some cases the last 4 digits of your SSN and a photo ID — required to comply with CFTC-mandated identity verification rules for a regulated financial product
Comply with all applicable federal, state, and local laws
Agree to Novig’s Terms of Use
How is this different from sports betting?
Traditional sports betting is licensed and regulated on a state-by-state basis, which is why it's legal in some states and not others. Novig's event contracts are instead regulated federally by the CFTC. You're not placing a bet with a bookmaker — you're buying and selling a contract on an exchange, and its price is set by the market rather than by fixed odds.
Frequently Asked Questions
I'm not sure if I'm eligible — how do I check?
The quickest way to confirm eligibility is to try creating an account — Novig verifies your age, identity, and location automatically during signup.
What happens if I travel to Nevada, Arizona, or Michigan while I have open positions?
Your positions will still settle as normal, but you won’t be able to create any new orders, deposit, or withdraw.
Can I have more than one Novig account?
No. Each user may only have one Novig account. Violation of this rule may result in a temporary or permanent account restriction.