Novig sues Wisconsin over sports prediction contracts
Prediction market operator Novig has sued Wisconsin Attorney General Josh Kaul and state gaming administrator John Dillett, seeking to stop Wisconsin from applying its gambling laws to sports event contracts traded on the companys federally regulated exchange. Ludlow Exchange LLC, which operates as Novig, filed the 45-page complaint on Aug. 14 in the U.S. District Court for the Western District of Wisconsin. Novig wants preliminary and permanent injunctions and a declaration that federal commodities law preempts the Wisconsin statutes when applied to its event contracts. Novig argues CFTC oversight overrides Wisconsin law Novig‘s case rests on the Commodity Exchange Act. The company argues that its sports contracts are federally regulated derivatives and that Congress placed transactions on designated contract markets within the Commodity Futures Trading Commission’s exclusive jurisdiction. That is Novigs legal position, not a finding already made by the Wisconsin court. JUST IN: Novig sues Wisconsin, arguing sports contracts are swaps and should fall under the CFTCs exclusive jurisdiction. If upheld, this could sharpen regulatory focus on prediction markets $NOVIG pic.twitter.com/znnsWmNd8U — Bpay News (@bpaynews) August 17, 2026 The CFTC formally designated Ludlow Exchange as a designated contract market on June 16. Its approval requires compliance with the Commodity Exchange Act, CFTC regulations and the









