New York Federal Judge Denies Novig's Preliminary Injunction, Allowing State Gaming Law to Apply to Its Sports Prediction Market

November 11: According to The Block, a New York federal judge has denied a preliminary injunction request from sports prediction market platform Novig, which sought to prevent New York State from blocking its services. The court ruled that Novig's event contracts are not "swaps" under the Commodity Exchange Act, and that New York State may apply its gaming and sports betting laws to its activities.

Gaming attorney Daniel Wallach said on X that state regulators may soon shift from defending their enforcement authority in federal court to actively exercising that authority in state court, which could be the next major chapter in sports prediction market litigation.