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Novig vs Kalshi: Which Prediction Exchange Fits You?
Quick Answer
Novig and Kalshi are both direct CFTC-designated contract markets, but they serve different primary jobs. Novig is the more focused sports exchange and currently charges no maker or taker fee on pregame straight app and web trades. Kalshi offers a much broader event-market menu, more documented transfer routes, an official demo, and mature order-book tools. Novig requires users to be 21 or older and excludes Arizona, Michigan, and Nevada in its current rules. Kalshi's account baseline is 18, but sports-contract access must be checked by location and contract because federal designation does not settle every state-level sports dispute. No liquidity, legality, price, or profitability winner is supported without a synchronized contract-level test.
Which option fits your needs?
Decision dimension | Editorial conclusion | Why |
|---|---|---|
sports-first workflow | Novig | Its current product is centered on sports contracts, props, live markets, futures, and parlays. |
Broader event menu | Kalshi | It combines sports with politics, economics, weather, culture, crypto, and other event categories. |
Pregame straight trading fee | Novig | Current app and web maker and taker fees are zero for this specific trade type. |
Practice environment | Kalshi | An official mock funds demo is documented. |
Lower age baseline | Kalshi | Account opening baseline is 18, while Novig requires 21; other restrictions still apply. |
Funding breadth | Kalshi | More transfer routes are documented publicly in the checked source set. |
Platforms | Tie | Both verify web, iOS, and Android access. |
Liquidity, price, or overall winner | No supported winner | A synchronized same contract, time, and size test was unavailable. |
At a glance
Product | Type | Best for | Price or fee | Platforms | Main limitation |
|---|---|---|---|---|---|
Novig | Direct, fully collateralized, peer-to-peer sports prediction exchange; Ludlow Exchange was designated as a DCM by the CFTC on June 16, 2026. | sports-first exchange trading with fee-free pregame straight app and web trades | No subscription. Pregame straight app and web trades have $0 maker and taker fees. Live straight takers pay 0.03 x P x (1-P) per contract; parlay takers pay 0.10 x P x (1-P), included in the quote. Maker fees are $0. Orders that do not execute incur no trade fee. Account creation and browsing do not use a subscription. Real trading requires funds. No conventional trial applies. The current deposit-and-trade credit program is a temporary promotion, not a free trial and not part of the evergreen verdict. | Web, iOS, and Android. | Higher minimum age and three explicit state exclusions; New DCM-era product with legacy sweepstakes pages still discoverable; Contract liquidity, spreads, partial fills, and exit availability vary; Live taker and parlay fees apply; Fair Value Settlement can differ from a simple refund in specified disrupted events |
Kalshi | Direct CFTC-designated contract market offering binary event contracts across sports and many non-sports categories. | Broad sports and non-sports event markets with mature exchange tools | No subscription. Kalshi's July 7, 2026 schedule charges immediately matched orders under a general taker formula of 0.07 x M x C x P x (1-P). Resting orders are generally free unless the series appears in the maker-fee section; where charged, the maker formula is 0.0175 x M x C x P x (1-P), with series-specific multipliers. The current fee schedule and order confirmation control. | Web, iOS, and Android. | Formula, rounding, spread, slippage, and market-specific multipliers complicate cost comparison; Sports access is legally contested in some jurisdictions; Displayed price does not guarantee the desired fill or exit; Settlement depends on contract-specific rules and source agencies; No platform-wide liquidity or execution-quality conclusion is supportable from public sources |
Checked August 31, 2026 for Novig vs Kalshi. Reconfirm Novig Kalshi prices, access, and modes. Coverage and app features may change.
Novig: sports-first exchange trading with fee-free pregame straight app and web trades
What it is. Direct, fully collateralized, peer-to-peer sports prediction exchange; Ludlow Exchange was designated as a DCM by the CFTC on June 16, 2026. Make or take straight contracts, pregame and live trading, player props, futures, hedging or cash-out where execution is available, and quoted parlays. API access exists for specified trade types; app and web parlays are quote-based.
Access. Current official rules require physical presence in the United States, age 21 or older, identity verification, and exclude Arizona, Michigan, and Nevada. DCM status is a federal regulatory fact, not an editorial claim of uniform legality in every jurisdiction.
Price or fees. No subscription. Pregame straight app and web trades have $0 maker and taker fees. Live straight takers pay 0.03 x P x (1-P) per contract; parlay takers pay 0.10 x P x (1-P), included in the quote. Maker fees are $0. Orders that do not execute incur no trade fee. Account creation and browsing do not use a subscription. Real trading requires funds. No conventional trial applies. The current deposit-and-trade credit program is a temporary promotion, not a free trial and not part of the evergreen verdict.
Platforms. Web, iOS, and Android.
Coverage. Official app materials list pro and college football and basketball, baseball, soccer, hockey, combat sports, golf, tennis, player props, futures, and live markets. Exact boards remain event and contract specific.
Why it fits. Sports-first navigation and contract menu; Transparent current maker and taker formulas; No trading fee on pregame straight app and web trades; Native apps plus web access; Fair Value Settlement methodology is publicly described
Limitations. Higher minimum age and three explicit state exclusions; New DCM-era product with legacy sweepstakes pages still discoverable; Contract liquidity, spreads, partial fills, and exit availability vary; Live taker and parlay fees apply; Fair Value Settlement can differ from a simple refund in specified disrupted events
Kalshi: Broad sports and non-sports event markets with mature exchange tools
What it is. Direct CFTC-designated contract market offering binary event contracts across sports and many non-sports categories. Buy or sell event contracts, market and limit orders, resting maker orders, early exit when an order can be filled, portfolio and P&L records, and API access. Market settlement follows each contract's written rules and source agencies.
Access. Official signup guidance requires age 18 or older and identity verification. US-focused access remains subject to account, contract, state, court, tribal, and geolocation restrictions. Current sports-contract litigation means the page must not claim blanket nationwide sports legality or availability.
Price or fees. No subscription. Kalshi's July 7, 2026 schedule charges immediately matched orders under a general taker formula of 0.07 x M x C x P x (1-P). Resting orders are generally free unless the series appears in the maker-fee section; where charged, the maker formula is 0.0175 x M x C x P x (1-P), with series-specific multipliers. The current fee schedule and order confirmation control.
Platforms. Web, iOS, and Android.
Coverage. Current official materials include football, baseball, basketball, soccer, golf, MMA, tennis, pro and college sports, plus politics, economics, weather, crypto, culture, technology, and other event categories. Exact sports contracts vary by time and location.
Why it fits. Broader sports and non-sports event menu; Mature documented order-book, transfer, tax, and API workflows; Multiple US funding and withdrawal routes; Official demo environment; Web and native mobile access
Limitations. Formula, rounding, spread, slippage, and market-specific multipliers complicate cost comparison; Sports access is legally contested in some jurisdictions; Displayed price does not guarantee the desired fill or exit; Settlement depends on contract-specific rules and source agencies; No platform-wide liquidity or execution-quality conclusion is supportable from public sources
The fee comparison is transaction-specific
Novig currently charges no maker or taker fee on pregame straight app and web trades, while live straight takers and parlay takers use published formulas. Kalshi uses probability sensitive formulas, rounding, and market-specific schedules. A lower stated fee does not prove a better executable price once spread, depth, and fill are considered.
Access and regulation are separate questions
Both are direct CFTC designated contract markets. Novig currently requires 21+ and excludes Arizona, Michigan, and Nevada. Kalshi has an 18+ account baseline, but sports contract access remains subject to current location, contract, court, state, and tribal restrictions. Neither federal designation supports a blanket nationwide legality statement.
Market focus changes the decision
Novig is the cleaner fit when the user wants a sports-first exchange. Kalshi is the stronger fit when the same account should also cover non-sports event categories and a documented demo, transfer, tax, API, and order book workflow.
How to choose
Step | Decision |
|---|---|
1 | Confirm the exact account, location and contract eligibility. |
2 | Compare the order’s fees, spread, available depth and possible exit costs. |
3 | Read settlement and funding rules for the specific product, not another product with the same brand. |
How we compared and what the evidence covers
We compared Novig and Kalshi as current direct exchanges using official designation, rules, fees, access, funding, order, platform, and market scope evidence. We did not perform funded trading or synchronized order book testing.
This is a static source-based comparison of the current DCM era products. Contract availability, fee schedules, funding rails, depth, spreads, fills, and legal restrictions can change after the snapshot.
For Novig vs Kalshi, official terms, prices, and platform listings were checked. Novig vs Kalshi product documents were reviewed through August 31, 2026.
Frequently asked questions
Is Novig better than Kalshi?
Novig can be the better fit for sports-first trading and its current fee-free pregame straight app and web trades. Kalshi can be better for a broader event menu, more documented funding routes, and a demo. There is no universal winner.
Which has lower fees?
Novig has the lower stated fee for its current pregame straight app and web trade category. Live, parlay, spread, slippage, and executable price can change the total economic result.
Which is available in more states?
Do not infer one permanent winner. Novig currently excludes Arizona, Michigan, and Nevada. Kalshi sports access requires current contract and location verification because restrictions and litigation can differ.
Which has more liquidity?
No product wide liquidity winner is supported without a synchronized contract level order book test.
Are Novig and Kalshi sportsbooks?
No. Both current products are direct event contract exchanges, not house priced fixed odds sportsbooks.
Sources
- 01S01. CFTC Ludlow Exchange DCM record. Checked August 31, 2026.
- 02S02. Novig rules and legal restrictions. Checked August 31, 2026.
- 03S03. Novig fees. Checked August 31, 2026.
- 04S04. Novig payments. Checked August 31, 2026.
- 05S05. Novig Fair Value Price methodology. Checked August 31, 2026.
- 06S06. Novig maker and taker orders. Checked August 31, 2026.
- 07S07. Novig iOS. Checked August 31, 2026.
- 08S08. Novig Android. Checked August 31, 2026.
- 09S09. CFTC DCM registry. Checked August 31, 2026.
- 10S10. Kalshi fees help. Checked August 31, 2026.
- 11S11. Kalshi signup eligibility. Checked August 31, 2026.
- 12S12. Kalshi transfers. Checked August 31, 2026.
- 13S13. Kalshi demo. Checked August 31, 2026.
- 14S14. Kalshi iOS. Checked August 31, 2026.
- 15S15. Kalshi Android. Checked August 31, 2026.
- 16S16. Kalshi current fee schedule. Checked August 31, 2026.
Related
Keep exploring TipMaster Compare
Back to all guides →TipMaster publishes this guide. Its Co Founder and CEO, Bar Worcel, is the author. Product fit is distinguished from betting performance.