Prediction Market Firm Sues to Escape Wisconsin Gambling Law

Prediction market firm sues to escape Wisconsin gambling law

The prediction market platform Novig says in a lawsuit that Wisconsin's sports gambling law doesn't apply to its business. (Getty Images)The prediction market platform Novig is suing to stop the state Department of Justice from using the state’s gambling laws to prevent the firm from operating in Wisconsin.  Novig’s federal lawsuit follows DOJ’s lawsuits in April that charged three other prediction market platforms with violating Wisconsin’s rec…

Prediction market Novig sues Wisconsin in fifth state legal fight

Prediction market operator Novig has sued Wisconsin’s attorney general and top gaming regulator in federal court, seeking to block the state from treating its sports event contracts as unlicensed gambling. The Aug. 14 filing marks the fifth state where the company has launched a preemptive legal challenge since going live nationwide on Aug. 4. Novig’s parent company, Ludlow Exchange LLC, filed the 45-page suit in the U.S. District Court for the …

CHOCHILINO 5th State Lawsuit: Novig Preemptively Sues Wisconsin Over Sports Contracts %

Prediction market operator Novig has filed a federal lawsuit against Wisconsin, which has not become the fifth state to face legal action from the company seeking protection from potential enforcement of sports betting laws. Preemptive Step Novig’s legal entity, Ludlow Exchange LLC, filed the 45-page lawsuit on August 14 in the US District Court for the Western District of Wisconsin. The defendants are Wisconsin Attorney General Josh Kaul and st…

Novig Sues Wisconsin, Fifth State Suit In 10 Days

Novig filed Aug. 14 in the Western District of Wisconsin, its fifth suit against a state in 10 days.The complaint asks that Wisconsin’s commercial gambling statute, a Class I felony, be declared preempted as applied.A federal judge in Wisconsin denied the CFTC that same relief on July 29, finding preemption unlikely.Wisconsin licenses no non-tribal sports wagering, leaving exclusion as Novig’s only route to avoid felony exposure. MADISON, Wisc. …