Novig selected Eventus' Validus platform as its trade surveillance solution following the company's recent designation by the U.S. Commodity Futures Trading Commission as a Designated Contract Market. The deployment enables Novig to monitor trading activity, identify market abuse and support regulatory compliance as it operates a federally regulated prediction market under a nationwide framework. The move reflects how prediction markets are adopting the same market integrity infrastructure long used by futures exchanges, equity markets and institutional trading venues as the sector expands beyond election contracts into sports and other real-world events.
Trade Surveillance Becomes Core Exchange Infrastructure
Market surveillance has become a fundamental requirement for regulated exchanges rather than simply another compliance tool. Modern surveillance platforms continuously monitor trading activity for behaviors including spoofing, layering, wash trading, cross-account coordination and other forms of market manipulation. They also provide investigation workflows, audit trails and regulatory reporting capabilities that enable exchanges to demonstrate ongoing market oversight.
Kelechi Ukah, Novig's co-founder and Chief Technology Officer, said the company viewed surveillance as an essential component of market design rather than a regulatory obligation. "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," Ukah stated. "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."
Rather than building an internal surveillance platform, Novig chose Eventus' Validus platform, which is already deployed across banks, broker-dealers, futures commission merchants, proprietary trading firms, exchanges and digital asset venues.
Novig Identifies Unique Prediction Market Surveillance Challenges
While prediction markets share many characteristics with futures exchanges, they also introduce surveillance challenges that differ from traditional asset classes. Sports contracts revolve around discrete outcomes rather than continuously priced financial instruments. Liquidity profiles can vary significantly depending on the event, while opportunities for manipulation may arise at different stages of a market's lifecycle.
According to Ukah, those differences made flexibility a critical selection criterion. "Prediction markets behave differently than traditional asset classes, with discrete outcomes, different liquidity profiles and different points of manipulation," Ukah explained. "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."
Ukah added that "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."
Eventus Validus Implementation Includes Configurable Monitoring Scenarios
The implementation includes configurable surveillance scenarios for spoofing, layering and wash trading, cross-account and cross-market analysis, case management workflows, real-time and post-trade monitoring, forensic audit capabilities and scalable infrastructure designed to accommodate increasing trading activity.
Cameron Routh, CEO of Eventus, stated: "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."
Prediction Markets Adopt Institutional Technology Stack
The deployment reflects a broader transformation taking place across the prediction market industry. For much of their history, prediction markets operated outside mainstream exchange infrastructure. Today, however, operators seeking federal regulation are increasingly adopting the technology stack traditionally associated with regulated financial markets.
That includes market surveillance, exchange-grade matching engines, clearing processes, risk controls and governance frameworks designed to meet regulatory expectations while supporting institutional participation. As competition intensifies, technology providers with established experience across futures, equities, foreign exchange and digital assets are finding new opportunities in the prediction market sector.
For Eventus, the Novig deployment expands the reach of its Validus platform into another fast-growing asset class. The company already provides surveillance technology across equities, options, futures, fixed income, foreign exchange, digital assets and commodities, making prediction markets a natural extension of its product portfolio.
FAQ
What surveillance platform did Novig select for its prediction market exchange?
Novig selected Eventus' Validus platform as its trade surveillance solution following its recent designation by the U.S. Commodity Futures Trading Commission as a Designated Contract Market. The platform monitors trading activity for behaviors including spoofing, layering, wash trading and cross-account coordination while providing investigation workflows and regulatory reporting capabilities.
Why did Novig choose Eventus Validus over building internal surveillance technology?
According to Kelechi Ukah, Novig's co-founder and Chief Technology Officer, the company wanted a system that could adapt to prediction markets' unique characteristics—discrete outcomes, different liquidity profiles and different points of manipulation—while providing regulatory alignment with CFTC expectations. Eventus' platform is already deployed across banks, broker-dealers, futures commission merchants, proprietary trading firms, exchanges and digital asset venues.
What surveillance capabilities does the Eventus Validus implementation include?
The implementation includes configurable surveillance scenarios for spoofing, layering and wash trading, cross-account and cross-market analysis, case management workflows, real-time and post-trade monitoring, forensic audit capabilities and scalable infrastructure designed to accommodate increasing trading activity.
