Comprehensive standards codified directly into Novig’s Ludlow Exchange rulebook, including the category’s only nationwide 21+ age requirement, establish a new benchmark for responsible participation, market integrity, and consumer protection.
NEW YORK, Aug. 13, 2026 /PRNewswire/ — Novig today announced the adoption of a comprehensive responsible trading framework, becoming the first platform to codify a broad set of responsible trading standards directly into the rulebook of a CFTC-regulated prediction market exchange.
The framework, incorporated into Chapter 14 of the Ludlow Exchange rulebook, establishes affirmative obligations governing how the exchange designs its products, markets its platform, monitors participant activity, and promotes responsible participation. Rather than relying solely on optional customer tools, the framework embeds responsible trading into the exchange’s operating rules and regulatory oversight.
“Trust is the foundation of every market, and it’s earned through clear rules and accountability,” said Jacob Fortinsky, co-founder and CEO of Novig. “Responsible trading shouldn’t rest solely with the customer—it should always begin with the exchange itself. By codifying responsible trading standards directly into our rulebook, we’re holding ourselves to the same high standard we expect of our participants and establishing a new benchmark for how federally regulated prediction markets should operate.”
The responsible trading framework spans the full customer and product lifecycle and includes:
- The industry’s only nationwide 21+ age standard with identity verification, re-verification where appropriate, and suspension of accounts where there is a credible indication of underage access or identity misuse.
- Comprehensive member controls, allowing participants to establish deposit, loss, and exposure limits, receive elapsed-time reminders, take cooling-off periods, and self-exclude, including indefinitely, with delays before increases to established limits take effect.
- Responsible marketing standards prohibiting misleading “risk-free” claims, marketing directed toward individuals under 21, promotions tied solely to recent losses, appeals to financial hardship, and other misleading communications.
- Restrictions on trading incentives designed to prevent programs that encourage loss-chasing, escalating deposits, or maintaining losing positions.
- Responsible platform design requirements that require clear disclosure of amounts at risk, maximum potential losses, and settlement terms while evaluating platform features that could obscure risk or encourage impulsive trading.
- Responsible contract review, requiring participant-protection considerations before new contracts are listed and allowing for enhanced disclosures, tighter limits, or other safeguards where appropriate.
- Risk-based monitoring that identifies observable patterns such as rapid increases in deposits or trading activity, repeated deposits following losses, attempts to raise limits or remove a member established exclusion, or apparent loss-chasing, with responses ranging from educational prompts to temporary or permanent restrictions.
- Ongoing accountability and oversight, including metrics, recordkeeping, periodic review of the framework’s effectiveness, and information available to the CFTC upon request.
The framework is administered by Ludlow Exchange, LLC, Novig’s federally regulated Designated Contract Market (DCM), and is designed to evolve alongside market activity, regulatory developments, and emerging best practices.
The announcement comes as Novig expands nationwide following its CFTC designation as a DCM, reinforcing the company’s commitment to building the most transparent, trusted, and responsible sports prediction market in the United States.
For more information on Novig, visit Novig.com.
About Novig
Novig is the leading sports prediction market, built to deliver the most transparent and efficient sports trading experience. Available nationwide, Novig gives fans a modern way to participate in the games they love through market-driven pricing designed around fairness and transparency.
Built to challenge outdated and exploitative systems, Novig eliminates unfair odds and punitive limits on winning players, creating a market where incentives are aligned with participants. Designed by sports traders for sports traders, Novig is redefining sports trading for a new generation of fans.
For more information, visit Novig.com or follow Novig on X, Instagram or LinkedIn.
SOURCE Novig
