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State of Play’s TL;DR
- Novig has created new responsible trading rules for its prediction market.
- The rules set a minimum age of 21 requirement to trade amid other consumer protections.
Novig says it has filed a new responsible trading framework for Ludlow Exchange, its CFTC-designated prediction market, adding a uniform minimum age of 21 and a broader set of player protections to its rulebook.
According to the company, the new Chapter 14 was submitted to the Commodity Futures Trading Commission through the self-certification process on Aug. 12.
Novig said the rules would take effect no earlier than the 10th business day after filing, with session-time reminders scheduled to launch later in 2026.
What the new Novig rules include
The framework goes beyond a simple age gate. Before a customer places a first order, Ludlow must provide plain-language disclosures covering potential losses, pricing, liquidity, and the fact that trading does not guarantee income. Before an order is submitted, the platform must also show the amount at risk, maximum possible loss, and settlement terms.
The rules also require contract reviews based on duration, volatility, complexity, and how easily users can repeatedly enter a market. Ludlow may choose not to list a contract or may apply tighter position limits, enhanced disclosures, or other safeguards.
Novig co-founder and CEO Jacob Fortinsky said:
“Responsible trading shouldn’t rest solely with the customer. It should always begin with the exchange itself.”
Marketing limits and account monitoring
The rulebook changes also restrict how Novig can market its product. Promotions cannot target people under 21, appeal to financial hardship, use misleading “risk-free” language, or be triggered only by a customer’s recent losses.
Incentive programs also cannot reward escalating deposits, losses, or maintaining losing positions.
On the monitoring side, the framework identifies warning signs such as rapid increases in deposits or position sizes, repeated deposits after losses, attempts to raise limits, and apparent loss-chasing. Possible responses include educational prompts, direct outreach, suspending promotions, restricting deposits or positions, or other responsible gambling-type tools.
What players can use now
Novig said its app already includes Trading Limits and a Time Out feature. Trading Limits let users set purchase or order caps that take effect immediately. A limit can be lowered, but it cannot be increased or removed for the next 24 hours. The Time Out option blocks account access, order placement, and platform use for a chosen period.
The company also said its Responsible Trading menu links to SelfExclude.io and the SAMHSA helpline website.
The move stands out because Novig says its minimum age is the industry’s “only nationwide 21+ age standard,” while most major prediction market platforms mentioned in the report, including Kalshi and Polymarket, allow trading at 18. The DeFi Rate report also noted that FanDuel Predicts and DraftKings Predictions offer similar cooling-off, self-exclusion, and account-limit tools.
Based on reporting by Mike Breen for DeFi Rate.
