Novig, a US-based sports prediction market, has deployed the Eventus Validus platform as its trade surveillance solution, working with Eventus, a provider of trade surveillance and financial risk technology used at scale across regulated markets.
The move follows Novig’s recent designation by the US Commodity Futures Trading Commission as a Designated Contract Market, a status that will allow the exchange to operate under federal regulation and expand across the country this summer under one regulatory framework.
Novig co-founder and chief technology officer Kelechi Ukah said the surveillance programme underpins the exchange’s broader ambitions, arguing that confidence among participants is what keeps liquidity flowing. He noted that prediction markets carry their own risks that differ from conventional asset classes, including discrete outcomes and distinct liquidity patterns, meaning a system built for equities or futures could not simply be repurposed without adjustment.
Several capabilities of the Validus platform were highlighted as particularly relevant to Novig’s needs. These include the ability to tailor detection scenarios, such as spoofing, layering and wash trading, to the specifics of Novig’s market structure, along with tools for spotting coordinated or indirect manipulation across accounts and markets. The platform’s capacity to scale alongside rising event volumes was also cited, as were its case management tools, which Novig said would let it manage investigations without building that infrastructure independently. Additional strengths mentioned include a combination of real-time and post-trade monitoring designed to support proactive detection and thorough audit trails, alongside a integration approach that maps directly onto Novig’s internal data, such as orders, fills and markets, without heavy reformatting.
Eventus provides trade surveillance and risk technology designed for scale across regulated trading venues, with a focus on flexibility and integration for exchanges operating in evolving regulatory environments.
Eventus chief executive Cameron Routh said the platform’s adaptability and his team’s experience working with regulated venues were factors behind its selection by Novig, noting that as an API-first exchange, Novig placed high value on integration quality.
Novig co-founder and chief technology officer Kelechi Ukah said, “We approach trade surveillance as core infrastructure, not a compliance afterthought. If participants don’t trust the market, liquidity disappears so our trade surveillance program is foundational to our mission. Eventus has been a strong partner in shaping a robust and credible surveillance program for Novig that will accommodate us as we grow. Eventus strikes the best balance between institutional-grade credibility and flexibility to meet Novig’s unique needs.”
Eventus CEO Cameron Routh said, “As a modern, API-first exchange, integration quality and flexibility were priorities for Novig, and we’re gratified that the versatility of our platform and our team’s deep domain expertise and experience with regulated venues were important factors in our selection. We love when our clients recognize that trade surveillance plays a critical role in their long-term success and the trust they build with market participants. That’s why we’re laser-focused on providing powerful tools that can contribute to a healthy marketplace.”
Novig co-founder and chief technology officer Kelechi Ukah said, “We wanted a system that could adapt to those distinctions—not one implicitly optimized for equities or futures—while providing regulatory alignment, with strong mapping to CFTC expectations and a clear path as we scale into more formal regimes. Eventus has been helpful in translating regulatory expectations into concrete surveillance scenarios, providing us with a reference point for what good surveillance looks like, and ensuring coverage is comprehensive, rather than ad hoc.”
Stay ahead of the shifts reshaping regulated markets. Subscribe to the FinTech Global newsletter that serious industry players rely on before the rest of the market catches up.
Copyright © 2026 FinTech Global
