Novig credits Sydney Sweeney-backed campaign for platform’s surge in growth — SkimNews
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- Novig credited its Sept. 9 "Just Sports" ad for a ~94% spike in trading volume and a 218%+ jump in first-time depositors in the 20 days around launch, per co-founder Jacob Fortinsky.
- Novig's September metrics: active users climbed 96% month-over-month and 260% year-over-year; app downloads jumped 187%+, figures Fortinsky said exceeded expectations.
- Sydney Sweeney took an undisclosed equity stake in Novig, drawn to its avoidance of event contracts on wars, deaths, and politics — the feature she highlighted in the campaign.
- Female athletes criticized the ad for setting back progress on perceptions of women in sports; Fortinsky said the company has "nothing to apologize for."
- Novig is raising capital at a $2 billion valuation (per The Wall Street Journal), 4x its $500 million mark during a $75 million Series B in February (per Forbes).
- Novig sued multiple states shortly after launch arguing they cannot regulate its sports event contracts, and restricts users to ages 21+ — stricter than Kalshi and Polymarket's 18+ minimum.
Why it matters: Novig's 94% volume spike and 218% depositor surge — paired with a $2 billion valuation 4x its $500 million February mark — show investors are rewarding the campaign's reach despite athlete backlash, but the 21+ age floor and multi-state lawsuits reveal a more legally constrained growth playbook than Kalshi and Polymarket.
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