"Kalshi vs Novig: which should you use for sports and more?"
One exchange for everything, one built only for sports. Where each wins.
Short answer: Choose Kalshi if you want one app for sports and economics, politics, weather and culture, with a published fee formula. Choose Novig if you only trade sports and want the lowest costs: it charged no commission on pre-game single trades as of 27 September 2026. Big change for 2026: Novig dropped its old sweepstakes model and relaunched on 4 August 2026 as a CFTC-regulated exchange, so both are now federally regulated.
On this page
Kalshi offer, checked 27 September 2026
Trade $25, get $25
Promo code: WINPREDITCS
Certain limitations apply. The offer is available to new users only, subject to the terms and conditions at kalshi.com/tc/500. 18+ only. Restrictions and eligibility requirements apply. Event contract trading involves significant risk and is not appropriate for everyone. Please carefully consider if it is appropriate for you in light of your personal financial circumstances. Kalshi products are not available in all jurisdictions. See kalshi.com/regulatory for more information. Terms apply.
Side by side (checked 27 September 2026)
| Kalshi | Novig | |
|---|---|---|
| Regulation | CFTC exchange since 2020 | CFTC exchange (Ludlow Exchange) since 2026 |
| Markets | Economics, politics, sports, weather, culture, finance | Sports only |
| How trading works | Order book, buy Yes or No | Peer-to-peer order book, set your own price |
| Trading fees | Published formula, highest near 50¢ | No commission on pre-game single trades; live trades and parlays reportedly carry a fee built into the price |
| Minimum age | 18 in most states | 21 |
| Not available | Nevada; sports limited in some states | Nevada, Arizona, Michigan |
| Devices | Web, iPhone, Android | Web, iPhone, Android |
| Our score | 4.6 / 5 | 4.3 / 5 |
| Welcome offer | Trade $25, get $25 | Deposit $10, get $25 in trade credits |
Scores come from our Kalshi review and Novig review. Availability changes often; the app checks your location and is the final word.
What changed at Novig?
Novig used to run a sweepstakes app with two currencies: coins for fun and a redeemable currency for prizes. Several states moved against sweepstakes sports apps, and Novig shut that product down.
Instead, Novig applied to the CFTC. Its exchange, Ludlow Exchange, was designated as a contract market on 16 June 2026 (SBC Americas), and the new app went live on 4 August 2026 (RotoWire). You now trade in dollars, like on Kalshi, rather than with coins.
So the old comparison, "regulated exchange vs sweepstakes app", no longer applies. Today the real differences are market range, costs and state access.
Which has more markets?
Kalshi, by a wide margin. It lists thousands of markets: Fed decisions, inflation and jobs reports, elections, weather, box office, and a full sports menu. If you want to trade Fed rate decisions or CPI and jobs reports, Novig can't help.
Novig is sports only. It covers the major US leagues (NFL, NBA, MLB, NHL) and esports, with player props, parlays and live trading. It also signed a partnership with MLB. For a sports-only trader, the menu is solid.
Which is cheaper?
Novig, for now. It launched its exchange with no commission on pre-game single trades (live in-game trades and parlays reportedly carry a taker fee built into the price), though its CEO said that was the policy "at the moment", so fees could come later. You still pay the spread (the gap between the best buy and sell prices), and you can avoid that by posting your own price and waiting for someone to match it.
Kalshi charges a trading fee from a published formula. It is highest on contracts priced near 50¢ and smaller near 1¢ or 99¢. Fees are shown before you confirm. See prediction market fees explained.
On a single game line, Novig will usually cost less. Whether that matters depends on how often you trade.
Where can you use each?
Kalshi is available in most states but not Nevada, and its sports contracts are limited or contested in some states, including Arizona and Michigan.
Novig says it is live in 47 states plus Washington, DC, with Nevada, Arizona and Michigan excluded because of legal action by state regulators. You must be 21 and physically located in an eligible state.
Both are part of the wider fight between states and federally regulated prediction markets over sports. Read are prediction markets legal? for the current picture.
How does trading feel different?
Both use an order book, where you trade against other people rather than a sportsbook.
- Kalshi shows every market as Yes or No at a price from 1¢ to 99¢. Beginners find it easy to read.
- Novig leans into setting your own price. You can take the best available price or post your own and wait. That rewards patient, price-aware traders.
New to this? Our prediction markets vs sportsbooks guide explains the difference.
Who is each best for?
Kalshi suits you if:
- You want sports and non-sports markets in one account.
- You care most about a long regulatory track record.
- You're 18 to 20 (Kalshi's minimum is 18 in most states; Novig's is 21).
Novig suits you if:
- You only trade sports.
- Low costs matter most and you trade often.
- You like setting your own price.
Many sports traders open both and compare prices on the same game.
Novig offer, checked 27 September 2026
Deposit $10, get $25 in trade credits
Promo code: WINPREDICTS
New users only. Restrictions & requirements apply. Not available in all states. 21+. Event contract trading involves risk & is not appropriate for all. Consider if it's appropriate for you in light of financial circumstances. See novig.com/terms for information. Terms apply.
Trade only what you can afford to lose. See responsible trading.
Frequently asked questions
Is Novig still a sweepstakes app?
No. Novig retired its sweepstakes product and relaunched on 4 August 2026 as a CFTC-regulated exchange. You now trade with real dollars.
Is Novig cheaper than Kalshi?
As of 27 September 2026, yes on most pre-game trades. Novig charges no commission on pre-game single trades at the moment, while Kalshi charges a fee from a published formula. Novig could add fees later.
Can I trade elections or the Fed on Novig?
No. Novig is sports only. For economics, politics and weather, use Kalshi.
Which states can't use Novig?
Nevada, Arizona and Michigan, as of 27 September 2026. You need to be 21 and located in an eligible state.
Is Kalshi or Novig safer?
Both are CFTC-regulated exchanges. Kalshi has operated as one since 2020; Novig's exchange was approved in June 2026.
