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Read Full BioSweepstakes prediction market platform Novig has withdrawn operations from New Jersey following a ban on dual-currency gambling in the state.
Novig did not make any public statement on its withdrawal, but informed users through email that it would no longer accept players from New Jersey.
The email stated: “We are reaching out to inform you of a change to your Novig account. Due to new legislation, Novig will be required to restrict platform usage for users located in the state of New Jersey starting August 15, 2025.”
New Jersey Bill Bans Dual-Currency Gambling
On August 15, Governor Phil Murphy signed off on bill A5447 banning sweepstakes gambling in New Jersey. The legislation specifically prohibits platforms that allow users to gamble on casino-style games or sports using virtual currencies that can be exchanged for prizes.
Novig operates by giving users Novig Coins and Novig Cash upon registering for the site. Novig Coins can be used to play games for free, while Novig Cash can be bought and exchanged for real-money prizes.
The New Jersey Division of Gaming Enforcement (NJDGE) will issue cease-and-desist letters to platforms about the new law. Companies that do not comply will face fines of up to $25,000 for each violation.
As the bill progressed through the chambers, many sweepstakes sites withdrew operations from the state.
Novig Secures Funding Despite Legal Challenges
In addition to New Jersey, Novig withdrew from Colorado last year and Arizona earlier this year due to increased regulatory scrutiny.
Connecticut and Montana also passed similar bills to New Jersey, outlawing sweepstakes gambling sites; however, Novig has not exited Connecticut and has not launched in Montana.
Despite the challenges, the site secured $18 million in a recent round of funding. Co-founder and CEO Jacob Fortinsky commented: “What we’re building isn’t just sports predictions–it’s a true peer-to-peer market.”
“We believe users deserve a system that rewards skill, reflects true supply and demand, and gives every fan a fair shot. We’ve quickly become the #1 sports prediction market in the US, and our organic growth speaks to the strength of our product and the passion of our community.”
Novig originally attempted to enter the US market as a regulated sportsbook, but a change in strategy led the company to adopt the sweepstakes prediction market model.
Operating in two legal gray areas means it is likely the platform will be forced to withdraw from more states in the future.
