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Kalshi vs Novig

Two U.S. CFTC-regulated venues for dollar event contracts. Kalshi is a multi-category exchange (sports plus economics, weather, politics, and more). Novig (Ludlow Exchange) is sports-first peer-to-peer. ChanceWire shows Not listed for live quotes on both until partnerships or licenses land — soft browse CTAs only.

KalshivsNovigKalshi odds Not listedNovig odds Not listed

No invented odds · Verify state eligibility · Not a sportsbook tip sheet · Soft CTAs both sides

DimensionKalshiNovig
Regulator pathCFTC DCMCFTC DCM (Ludlow Exchange, LLC)
FocusMulti-category event contractsSports event contracts (P2P)
Age18+21+
Geo snapshotCategory × state geofences; sports contested in several states — VERIFYNationwide except AZ, MI, NV (physical location; Help Sep 2026)
Odds on ChanceWireNot listedNot listed
CTA on ChanceWireSoftSoft

Not listed means we are not displaying Kalshi or Novig mid-prices — not that either venue is closed.

At a glanceKalshiNovig
TaglineCFTC-regulated event contracts for US tradersCFTC-regulated sports prediction market (Ludlow Exchange)
RegionsUnited States (regulated)Widely available in the US except AZ, MI, and NV (per public help/coverage as of Sep 2026); eligibility by physical location
AssetsUSDUSD
FeesExchange fees per contract; see Kalshi fee schedulePeer-to-peer event contracts; check Novig for current fee/spread details
Highlights
  • CFTC-regulated exchange
  • USD deposits and withdrawals
  • Strong coverage of economics and weather contracts
  • Sports-focused CFTC-designated contract market via Ludlow Exchange, LLC
  • Peer-to-peer sports event contracts (not a traditional sportsbook vig model)
  • USD onboarding oriented toward US sports traders
Caveats
  • US-focused; limited international access
  • Market catalog narrower than crypto venues
  • Contract sizes and fee structure differ from crypto books
  • Sports-only catalog — not a general-events venue like Kalshi or Polymarket
  • Unavailable in Arizona, Michigan, and Nevada (verify current geo rules)
  • Age often 21+; always confirm eligibility and terms on Novig
  • No public cash publisher affiliate known — ChanceWire links are comparison stubs only

Who each is for

Kalshi — U.S. traders who want one regulated venue spanning sports and non-sports event contracts (economics, weather, politics, culture), accepting that sports availability varies by state.

Novig — U.S. sports traders 21+ outside AZ, MI, and NV who want a peer-to-peer sports exchange framing rather than a multi-category general events book.

Neither side should promise “better odds” — ChanceWire is not displaying either book’s live mids yet.

Fees & UX

Both: confirm fee and spread schedules on the operator sites. Soft language only — exchange / peer-to-peer event-contract economics differ from sportsbook vig models. We do not invent percentages.

Eligibility callouts

Verify on operator Help and the living CTA eligibility matrix — ChanceWire does not hardcode a 50-state green/red list from blogs.

  • Kalshi AgeGate: 18+; soft-suppress sports CTAs in known blocked or enjoined states when geo is known — VERIFY matrix.
  • Novig: 21+ required (or suppress CTA); soft-suppress AZ, MI, NV when geo is known.
  • Never advise VPN or location spoofing.

Odds on ChanceWire

No side-by-side odds table with filled cells. Optional empty compare skeleton with Not listed badges only — never invent mids.

Soft comparison only. 18+ / 21+ where required. Risk of loss. Informational only — not advice.

Kalshi profileNovig profile