Novig Appoints Elie Mishory as Chief Regulatory Officer After CFTC DCM Status

Novig Appoints Former Kalshi and CFTC Executive Elie Mishory – Strengthening Regulatory Leadership After DCM Designation

Key Takeaways

• Novig has appointed Elie Mishory as chief regulatory and legal affairs officer.
• Mishory previously served as chief regulatory officer and general counsel at Kalshi and held leadership roles at the CFTC.
• He joins Novig following the company’s designation by the CFTC as a Designated Contract Market.
• Novig is expanding its sports prediction market platform across the United States.

Novig Names Elie Mishory to Lead Regulatory and Legal Affairs

Novig has appointed Elie Mishory as its new chief regulatory and legal affairs officer. In this role, he will oversee regulatory strategy and legal matters as the company expands its sports prediction market platform across the United States.

The appointment comes at a time when regulatory positioning is central to Novig’s business model. The company operates in the sports prediction market segment, which sits within the framework of federally regulated derivatives markets in the US. Oversight of these markets falls under the authority of the Commodity Futures Trading Commission, or CFTC.

According to Novig, Mishory will play a central role in guiding the company’s regulatory engagement and compliance efforts as it scales its operations nationwide.

Background at Kalshi and the CFTC

Mishory brings more than a decade of experience related to prediction markets and financial market regulation in the United States. He previously served as chief regulatory officer and general counsel at Kalshi, a company active in the prediction markets space. In that position, he was involved in legal and regulatory matters tied to the development and operation of event based markets.

Before joining Kalshi, Mishory worked at the CFTC in leadership roles within the Division of Market Oversight. He also served as counsel to Commissioner Brian Quintenz. These roles placed him within the federal regulatory structure responsible for supervising derivatives markets, including designated contract markets.

Following his time in the private sector, Mishory returned to public service. He worked with DOGE and supported initiatives at the US Securities and Exchange Commission that focused on government modernization and operational efficiency. This combination of private sector and regulatory experience positions him at the intersection of market structure, compliance, and public policy.

Appointment Follows CFTC Designation as Designated Contract Market

Mishory joins Novig shortly after the company received designation from the CFTC as a Designated Contract Market, or DCM. This designation is significant within the US derivatives framework, as it allows an exchange to list and trade contracts under federal oversight.

For Novig, DCM status provides the regulatory foundation for offering sports related financial contracts within a federally regulated environment. The company is building what it describes as a regulated exchange for sports and related financial contracts. Operating under CFTC supervision requires adherence to rules covering market integrity, compliance procedures, and participant protections.

The timing of Mishory’s appointment suggests that regulatory governance will be a core operational focus as Novig develops its exchange model further. Leadership with direct CFTC experience can be particularly relevant for companies that must maintain ongoing engagement with federal regulators.

Focus on Regulated Sports Trading Infrastructure

Novig positions its platform around sports trading within a regulated market structure. According to statements from company leadership, the goal is to create transparent and compliant markets designed to reward skill.

Chief executive and co founder Jacob Fortinsky stated that Mishory has been closely involved in key regulatory developments surrounding prediction markets in the United States. He described Mishory’s experience as central to the evolution of legal prediction markets into a topic of broader national discussion.

Mishory, commenting on his appointment, said he joined Novig because he views the company as well positioned to build the future of regulated sports trading. He also expressed respect for the CFTC’s staff and leadership and indicated that he looks forward to working constructively with the regulator.

His public remarks emphasized transparent markets, fair rules, strong compliance, and a structured trading environment for sports market participants. He also referenced advocacy for legal and regulated sports trading markets within the broader financial framework.

Implications for US Sports Prediction Market Participants

For users following developments in sports prediction markets, Novig’s leadership change highlights the regulatory dimension of this segment. Unlike traditional sportsbooks, federally regulated prediction markets operate within the derivatives market structure overseen by the CFTC.

The addition of a senior executive with direct CFTC and exchange experience indicates that Novig is prioritizing regulatory alignment as it expands. As a Designated Contract Market, the company must meet federal standards for market oversight, compliance controls, and operational governance.

For market participants, regulatory structure can affect how contracts are listed, how disputes are handled, and how market integrity is maintained. While Novig has not outlined specific product changes in connection with the appointment, the emphasis on compliance and market design signals continued focus on operating within established federal frameworks.

Our Assessment

Novig’s appointment of Elie Mishory as chief regulatory and legal affairs officer follows its recent designation as a CFTC Designated Contract Market and aligns with its expansion of a federally regulated sports prediction market platform in the United States. Mishory’s prior roles at Kalshi, the CFTC, and the SEC place him within the core regulatory and legal structures that govern US derivatives markets. Based on the company’s statements, his role will center on regulatory engagement, compliance oversight, and the development of a structured exchange model for sports related financial contracts under federal supervision.