Why This Prediction Market Banned Teens
Twenty-eight-year-old Jacob Fortinsky has been busy. “I was a groomsman at two weddings this weekend,” he tells me over Zoom. Also, the sports trading company he runs, Novig, launched its prediction market last week, facilitating $18 million in trading volume on its first day. Today, Novig launches a “responsible trading framework” in its exchange rulebook, codifying its guardrails as part of its effort to be seen as a kinder, gentler prediction market player.
Unlike industry leaders like Polymarket and Kalshi, which allow people 18 and older to participate, you have to be at least 21 to use Novig. Fortinsky says that decision was made in response to “valid concerns” put forth about the susceptibility of younger participants to risky behavior, including lobbyingfrom the NCAA and other professional groups. Fortinsky sees this move as staying ahead of the curve as concerns grow about the negative impact that prediction markets...
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