Novig reaches a valuation of $2bn following Sydney Sweeney campaign

Novig announced an approximate valuation of $2 billion following a funding round closed after its advertising campaign featuring Sydney Sweeney in September 2026. Prior to this episode, the company had been valued at around $500 million; the valuation has quadrupled in recent months, according to The Wall Street Journal.

What happened with the Sydney Sweeney and Novig campaign

The campaign called 'Just Sports' featured actress and model Sydney Sweeney almost nude, with sports elements strategically placed to cover parts of her body. Novig presented the campaign as a way to underscore that its platform solely focuses on sports prediction markets, in contrast to rivals who offer markets on other events.

The piece was designed to differentiate Novig from competitors like Polymarket and Kalshi, which quote non-sports events. The campaign's social media launch propelled its reach: Front Office Sports reported that the advertisement was shared and viewed tens of millions of times and that Novig's searches on Google increased by over one thousand percent compared to the previous month.

Valuation and funding: the figure and its context

The Wall Street Journal reported that the new round places Novig's valuation at approximately $2,000,000,000. In early 2026, the company had been valued at approximately $500,000,000, meaning the valuation has grown by around four times.

This leap is not explained solely by the campaign with Sweeney. Novig has been migrating towards a regulated sports prediction markets model, attracting investor interest in the category as a whole, and has secured significant partnerships: among them, a partnership agreement with the New York Mets from Major League Baseball.

Role of Sydney Sweeney: actress, investor, and creative collaborator

Coverage and leaked documents showed that Sweeney did not act solely as hired talent. According to statements from CEO Jacob Fortinsky to the media, Sweeney is a shareholder in Novig and actively participated in crafting the message and visual aspects of the campaign. Fortinsky detailed that Sweeney contributed to music selection, camera angles, and scriptwriting.

"We never intended to portray women's sports in that way," said Jacob Fortinsky in September, defending the creative intention of the campaign.

Novig has not disclosed what percentage Sweeney owns in the company. Fortinsky also pointed out that Sweeney initially approached Novig due to her interest in its sports focus and preferred to buy shares instead of acting solely as a promotional face.

Reactions: criticism and defense

Several female athletes criticized the campaign for sexualizing athletes. The controversy intensified on social media and traditional media, and public figures spoke out: actress Sharon Stone stated in late September that Sweeney must take responsibility for the message and its impact, recounting personal experiences of discrimination in sports during her youth.

Against this current, English golfer Charley Hull defended Sweeney in an interview with OutKick, asserting that the campaign does not harm women's sports and that the criticism has been distorted. Hull noted that the piece is an advertisement featuring an actress and model aimed largely at a male audience interested in sports betting.

Brand analysts have suggested another reading: that the campaign was designed to provoke a strong response and, with it, gain visibility. Shruti Saini, a brand strategist quoted by Fortune, stated that Novig cannot compete with larger prediction markets solely based on advertising budget and needed to generate attention.

Commercial impact and regulatory risks

Following the campaign, Novig achieved a peak in public attention, and according to reports, the investment round with the new valuation was closed. The massive distribution increased brand notoriety, but part of the conversation focused on Sweeney's body and the advertisement's provocation, rather than on the product or sport.

The company is also repositioning itself towards regulated sports prediction markets, a move that could mitigate risks associated with unregulated activities and contributed to investor interest. The collaboration with the New York Mets is another factor cited by sources linked to the valuation.

Public reactions and media coverage

The story and its offshoots were covered by Finnish and Anglophone media. Ilta-Sanomat published a piece on October 2, 2026, about Sweeney's participation in the advertisement; Fortune published a report on September 18, 2026, regarding Sweeney's creative and shareholder involvement; and Front Office Sports reported on September 16, 2026, about the CEO’s comments on the visual direction of the advertisement.

While the controversy remained active, Sweeney did not make public statements regarding the backlash. On her social media, she shared images from past ESPN Body Issue issues featuring athletes like Serena Williams and Ronda Rousey; this post was interpreted by some media as an implicit response to criticism, though the actress did not confirm that intention.

What operators and providers should watch in the sector

Operators and providers must observe two fronts. First, the commercial impact of campaigns that seek notoriety and how these affect key metrics: searches, traffic, and brand perception. Second, the reputational exposure and discussions around sexualization and representation in sports marketing campaigns. Both variables influence the ease of attracting investment and acceptance from leagues and sports partners.

For the sports prediction market, the Novig case demonstrates that a campaign can accelerate visibility while simultaneously multiplying public and media scrutiny. This combination has, so far, reflected in a high valuation and increased attention from investors and sports partners.