Novig Selects Eventus Validus for Trade Surveillance on New Prediction Market Exchange

Sports prediction market Novig has deployed the Eventus Validus platform to provide comprehensive trade surveillance for its exchange. The announcement follows Novig’s recent designation as a Designated Contract Market (DCM) by the U.S. Commodity Futures Trading Commission (CFTC), paving the way for the company to launch a federally regulated prediction market nationwide this summer under a single regulatory framework.

As an open exchange designed to challenge traditional sports betting models, Novig relies on real-time supply and demand to drive pricing. To safeguard market integrity, the company is treating trade surveillance as core infrastructure rather than a regulatory afterthought.

"If participants don’t trust the market, liquidity disappears," said Kelechi Ukah, Novig co-founder and Chief Technology Officer. "Eventus strikes the best balance between institutional-grade credibility and the flexibility to meet Novig’s unique needs. They have been a strong partner in shaping a robust surveillance program that can scale alongside our growth."

Addressing Unique Market Dynamics

Prediction markets exhibit distinct behaviors compared to traditional asset classes, featuring discrete outcomes, unique liquidity profiles, and different points of potential manipulation. According to Ukah, Novig required a system tailored to these differences rather than one optimized strictly for equities or futures.

Eventus assisted in translating CFTC regulatory expectations into concrete surveillance scenarios, ensuring comprehensive coverage across the exchange. Key features driving Novig's selection of the Validus platform include:

• Customizable Scenarios: The ability to tune surveillance parameters to detect spoofing, layering, and wash trading based on Novig's specific market mechanics.

• Cross-Market Analysis: Capabilities to detect coordinated or indirect market manipulation across multiple accounts and markets.

• Operational Workflows: Built-in case management tools that allow Novig to operationalize investigations immediately without building internal infrastructure.

• Seamless Integration: A well-defined, API-first integration model that maps internal objects such as orders, fills, and markets without requiring extensive data transformation.

Supporting Long-Term Market Trust

Eventus CEO Cameron Routh emphasized that integration quality and platform versatility were key priorities for Novig's modern, API-first exchange.

"We love when our clients recognize that trade surveillance plays a critical role in their long-term success and the trust they build with market participants," Routh said. "We’re laser-focused on providing powerful tools that contribute to a healthy marketplace."