Sportradar and Genius Sports have committed. Kambi has held back. Evolution sits outside the question. A primary-source reading of why each posture is rational, and which one wins. What this analysis covers The major listed B2B gambling suppliers have already made commercial decisions on prediction markets, before US regulation is settled. Sportradar and Genius Sports have leaned in. Kambi has identified the opportunity but is holding back, citing licence-risk exposure. Evolu

As US regulatory posture softens toward event contracts, Novig moves to separate its consumer brand from a federally supervised exchange model. In a significant strategic pivot toward federal oversight, Novig formally submitted an application to the Commodity Futures Trading Commission (CFTC) in January 2026 to operate a regulated exchange. The application was filed under a distinct legal entity, Ludlow Exchange LLC , with Novig listed as the parent holding company. This co

CFTC-regulated prediction venues now compete directly with state-licensed sportsbooks, offering national reach, exchange-style pricing and a lighter federal compliance regime. This feature maps the legal split (federal pre-emption vs state police powers), details operator strategies (fight, partner, or own the rails), unpacks the infrastructure (clearing, custody, oracles), and converts regulatory milestones into an actionable trigger matrix. It sets a minimum controls parity