Novig vs ProphetX
Novig
Regulated exchange · USD · United States
— out of 10, editor score
- +Regulated: CFTC Designated Contract Market: Ludlow Exchange, LLC (d/b/a Novig), designated 16 June 2026
- +Public API
- +iOS and Android apps
ProphetX
Regulated exchange · USD · United States
— out of 10, editor score
- +Regulated: CFTC Designated Contract Market (DCM): ProphetX LLC, Order of Designation issued 11 June 2026
- +$10 minimum deposit
- +Public API
Verdict
The two new sports-first exchanges, both CFTC-designated in June 2026. Novig charges no fee on pre-game straight trades and a price-based fee on live trades; ProphetX charges 2% of net gains per market. Novig excludes Arizona, Michigan and Nevada and requires users to be 21; ProphetX says it is nationwide and accepts 18+.
Row by row
The edge on each row is marked. Built automatically from the platform records, so it never drifts from the reviews — rows that describe rather than rank, like jurisdiction or market categories, say “no edge” instead of picking a side.
| Criterion | Novig | ProphetX | Edge |
|---|---|---|---|
| Overview | |||
| Editor Score | Not rated | Not rated | No edge |
| Type | Regulated exchange | Regulated exchange | No edge |
| Launched | 2024 | 2026 | No edge |
| Mobile apps | iOS, Android | iOS, Android | No edge |
| Fees | |||
| Fee conditions & evidence | Novig's help centre says "only takers pay trading fees on Novig. The maker fee is $0" (support.novig.com/en/articles/16195057-fees-on-novig, read 28 Sep 2026). Pre-game straight trades carry no fee for maker or taker (app/web and API). Taker fees are 0.03 x P x (1-P) per contract on live straight trades, 0.06 x P x (1-P) on futures, and 0.10 x P x (1-P) on parlays (the parlay fee is built into the quoted price). At a 50c contract that works out to about 1.5%, 3% and 5% of the stake respectively. Our calculation: 0.03 x 0.25 = $0.0075 per 50c contract. The help centre's worked example is 100 live contracts at 50% = $0.75. Makers on live and futures markets can earn a rebate through the Maker Credit Program: "50% of the Live Taker Fee collected" and "70% of the Futures Taker Fee collected", starting 10 September 2026. Deposits by credit card, debit card or Apple Pay use 'standard pricing' with a 3% fee; bank transfers (Stripe, Aeropay) and stablecoins (Coinflow) use no-fee 'discount pricing' (support.novig.com/en/articles/15062817, read 28 Sep 2026). No withdrawal fee is stated anywhere we read. Review evidence · Official fee source | Single-event (straight) trades: "All straight trades on site will be charged a 2% trading fee on net gains per market" (prophetx.co Trading Fees page, v1.2, updated 24 Sep 2026; also the help centre's Understanding Fees page). The CFTC self-certification words this as "2% of net proceeds ... calculated on a per-market basis upon settlement" (ProphetX LLC filing, 12 June 2026, extended 14 Aug 2026). The same filing sets a monthly make-volume rebate on fees paid: 0% up to $50k, then 20%, 40%, 60% and 80% marginal tiers above $7.5M. Parlay contracts: the fee is charged only to the taker, using F(p) = 0.014 x (1-p)/(0.19+p) + 0.004 per contract, with a $0.01 minimum. The help centre says "If your resting order is filled by an incoming order (a maker order), you are not charged a trade fee." The minimum deposit is $10 (help centre). Neither the operator's help centre nor its terms list a deposit or withdrawal fee, and the EdgeBoost deposit route is described as having "no fees". Terms 6.11: "Your access to Account funds will automatically expire in the event an Account becomes Dormant", where dormant means 60 days with no trading. Review evidence · Official fee source | Depends on the trade |
| Maker fee | See fee conditions above | See fee conditions above | No edge |
| Taker fee | See fee conditions above | See fee conditions above | No edge |
| Withdrawal fee | — | — | No edge |
| Deposits and withdrawals | |||
| Minimum deposit | — | $10 | No edge |
| Currencies | USD | USD | No edge |
| Markets | |||
| Market categories | Sports | Sports, Politics | No edge |
| Public API | Yes | Yes | Tie |
| Access and regulation | |||
| Jurisdiction | United States | United States | No edge |
| Licensing | CFTC Designated Contract Market: Ludlow Exchange, LLC (d/b/a Novig), designated 16 June 2026 | CFTC Designated Contract Market (DCM): ProphetX LLC, Order of Designation issued 11 June 2026, CFTC Derivatives Clearing Organization (DCO): ProphetX LLC, registered 10 June 2026 | No edge |
| KYC required | Yes | Yes | No edge |
| KYC trigger | At sign-up: legal name, date of birth, address, phone, last 4 digits of SSN, and a current US driver's licence or state ID (support.novig.com Account Verification). | At account opening. Identity is checked automatically, with ID, selfie and SSN upload if that fails. The help centre says "Accounts that are pending verification ... will not be able to make a deposit, trade, or withdrawal." Wires also need a bank statement, ID and a selfie holding the ID. | No edge |
| Supported countries | — | — | No edge |
Fees
Novig: makers pay nothing, pre-game straight trades are free for both sides, and takers pay 0.03, 0.06 or 0.10 × price × (1 − price) on live trades, futures and parlays. ProphetX: 2% of net gains per market on straight trades, a taker-only formula on parlays, and maker rebates of up to 80% by monthly volume.
Access and structure
Novig is Ludlow Exchange, LLC, designated on 16 June 2026 and clearing through Bitnomial; users must be 21+ and physically in an eligible state. ProphetX was designated on 11 June 2026 and is its own clearing house; users must be 18+ with a US bank or payment account, and it publishes no excluded-state list.
Which one suits you
Choose Novig if…
→Pre-game sports traders aged 21+ outside Arizona, Michigan and Nevada.
Choose ProphetX if…
→Sports traders aged 18–20, or anyone who prefers paying only on winning trades.
FAQ
- Which is cheaper, Novig or ProphetX?
- For pre-game trades, Novig: no fee at all. For live trades it depends — Novig’s taker fee is price-based, while ProphetX takes 2% of net gains and nothing on losses.
- Can I use Novig or ProphetX at 18?
- ProphetX accepts users 18 or older (or the age of majority where higher). Novig requires users to be 21.
- What are the Novig and ProphetX sign-up offers?
- Novig: $25 in trade credits after a $10 deposit, with the code NOVIGBONUS it publishes itself. ProphetX: $75 in three instalments after $50 of qualifying trades. Both are detailed on our promo-code pages.