Novig Hires Ex-CFTC Official Elie Mishory as Legal Chief as Prediction Markets Face 18% SEC Staff Cuts
Updated
Updated · WIRED · Jul 30
Novig Hires Ex-CFTC Official Elie Mishory as Legal Chief as Prediction Markets Face 18% SEC Staff Cuts
1 articles · Updated · WIRED · Jul 30
Summary
June brought Elie Mishory to Novig as chief regulatory and legal affairs officer, giving the sports-focused prediction market a senior lawyer who helped build the CFTC’s framework for the sector.
Mishory moved over after serving at DOGE’s SEC effort, where he said he focused on streamlining processes rather than layoffs, even as the SEC lost 18% of its staff in 2025, mostly through voluntary buyouts.
Novig’s hire lands as prediction-market firms seek seasoned regulatory talent while facing rising scrutiny; Polymarket is under CFTC investigation, and state regulators and federal lawmakers are pushing tighter guardrails.
The broader industry is also drawing political backing from Trump-world allies, underscoring how prediction markets have shifted from a fringe product toward a contested part of mainstream finance and sports betting.