Twenty-eight-year-old Jacob Fortinsky has been busy expanding his sports trading company Novig. With a $18 million trading volume on its first day and a new 'responsible trading framework' for those at least 21 years old, Novig is setting itself apart from competitors like Polymarket and Kalshi.

Fortinsky's decision to ban teens from the exchange was in response to valid concerns about younger participants engaging in risky behavior. He sees this move as a way to stay ahead of regulatory issues that are particularly concerning for the younger traders, who he believes are more susceptible to irresponsible financial decisions.

Novig’s rulebook also includes guidelines preventing marketing to minors and ads that claim there's no risk or appeal to money troubles. These restrictions align with Fortinsky’s vision of making prediction markets a 'serious, legitimate financial product.' However, the legal battles surrounding prediction markets are far from over, with states suing platforms like Kalshi for offering gambling services.

Despite its clear stance on teens, Novig isn't immune to controversy. When the New York Mets partnered with Novig, they faced backlash online. The company's push into the legal fray by suing several states highlights its ambition and resolve, but whether it will succeed remains uncertain.