Novig and ProphetX are the two platforms built only for sports and only as exchanges: no house, no politics, both licensed by the CFTC in June 2026 after years as betting exchanges and then sweepstakes apps. Novig charges nothing on pre-game trades and 3% × P × (1 − P) in-play, is 21+, and skips Arizona, Michigan and Nevada. ProphetX charges 2% of net profit on winning singles, is 19+, skips only Nevada, and shows prices as American odds with a request-for-quote parlay builder. Novig for the cheapest singles; ProphetX if you're 19–20, in Arizona or Michigan, or want the sportsbook look.
Side by side
| Novig | ProphetX | |
|---|---|---|
| Licence | CFTC DCM (Ludlow Exchange LLC), June 2026 | CFTC DCM + DCO, June 11, 2026 |
| Relaunch | August 4, 2026 | ProphetX 2.0, September 2, 2026 |
| Pre-game taker fee | None | 2% of net profit (winners only) |
| Live taker fee | 3% × P × (1−P), max 0.75¢ | 2% of net profit |
| Maker fee | None, plus 50% credit of taker fee live | None |
| Parlays | Yes; fee built into price (~10% × P(1−P)) | RFQ builder; fee terms vary by source |
| Price display | Cents / probability | American odds |
| Age | 21 | 19 |
| States | 47 (not AZ, MI, NV) | 48 + DC (not NV) |
| Funding | Aeropay bank (free), USDC/USDT (free), cards/Apple Pay (3%) | Bank, debit, Apple Pay; crypto reported |
| Withdrawal | Min $10; minutes to 48h | Not published in detail |
| Welcome offer | $25–$50 credits for $10 | Trade $50, get $75 (partner offers) |
| Partnerships | New York Mets | — |
Fees, worked
You buy 100 contracts at 50¢ pre-game and win: Novig $0 fee, you keep $50 profit. ProphetX: 2% of $50 = $1. You lose: $0 on both. In-play, same trade: Novig $0.75, ProphetX $1 if it wins, $0 if it loses. ProphetX's model is kinder when you lose; Novig's is cheaper when you win, which is the case that matters.
Interface
ProphetX looks like a sportsbook: −110 and +250, a bet slip, a parlay builder that sends your legs out for quotes. Novig looks like a prediction market with a sports skin: percentages and cents, an order book, resting orders. If you've never used an exchange, ProphetX is the gentler landing; if you've used Kalshi, Novig feels familiar.
Risk profile
Both are young in their current form, sports-only, and therefore entirely exposed to the state-court fights over sports contracts. Novig pre-emptively avoids the three hardest states; ProphetX avoids only Nevada and takes the rest, including Arizona (criminal charges blocked by a federal judge) and Michigan (court-ordered shutdown of Kalshi's sports boards). That's more coverage and more exposure.
Verdict
- Cheapest straight bets: Novig.
- Aged 19–20, or in AZ/MI: ProphetX.
- Prefer American odds and a bet slip: ProphetX.
- Want an order book and maker credits: Novig.
- Either, if you also trade non-sports: neither; add Kalshi or Polymarket.
Fee structures per Gambling.com (Novig) and VegasInsider/SI (ProphetX), October 2026; parlay fee terms for ProphetX differ between sources and are flagged.