Novig installs ex-Underdog senior counsel as new chief legal officer
Alex Wolf moves to the sweepstakes and prediction markets operator and is joined by fellow former Underdog head Chris Staszak in expanded legal team
Novig has appointed former Underdog Sports and FanDuel exec Alex Wolf as the sweepstakes and prediction markets operator’s new chief legal officer.
Wolf moves to the business having most recently served as Underdog Sports’ head of regulatory affairs and senior regulatory counsel.
He previously had a spell as senior counsel at Flutter Entertainment-owned FanDuel prior to making the switch to the challenger brand.
Alongside bringing in Wolf, Novig has named fellow former Underdog and FanDuel staffer Chris Staszak as senior legal counsel for government and regulatory affairs.
A former assistant counsel to the governor of New York, Staszak latterly as director and counsel for regulatory and compliance at Underdog.
His time at FanDuel saw him serve as senior counsel, while outside of the sector he spent time as senior investigative counsel with the US Special Inspector General for Afghanistan Reconstruction.
Novig, which highlighted the duo’s time spent together at Underdog as a key benefit, noted they would “bring a complementary skillset to Novig’s growing legal team.”
Jacob Fortinsky, Novig CEO, said: “As our business grows and the legal landscape continues to evolve, Novig is investing in experienced legal leadership to ensure that we maintain a culture of compliance and continue to be a leader in integrity and responsibility.”
Novig, which started out as a commission-free sports betting app in Colorado, secured a wave of VC dollars to fuel its initial growth.
In September 2024, the platform pivoted to a sweepstakes gaming model and is live in more than 40 states, including California and Texas, where sports betting has yet to be legalized.
The company now positions itself as a prediction market, similar to the likes of Kalshi.
Novig’s available markets include moneyline, spread, total markets, and player props on the NFL, NBA, WNBA, NCAAF, NCAAB, and MLB.
Sweepstakes have exploded in recent months, with regulatory pressure following. Late last week, the New York Attorney General issued cease-and-desist letters to 26 sweepstakes firms.
Montana became the first state to outlaw the vertical, with others including Louisiana and Connecticut having progressed legislation in recent weeks.
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