Jacob Fortinsky, CEO of Novig, advocates for sports betting to be regulated as a federal financial product rather than as gambling. He argues that the current sportsbook model unfairly penalizes winning bettors.
At Consensus Miami 2026, Fortinsky stated that the legacy sportsbook model is flawed, as it treats successful bettors as cheaters. He emphasized that sports event contracts should be viewed as binary financial instruments rather than gambling products. Adam Mastrelli, founder of 57 Maiden, supported this view based on his own experiences with major sportsbooks.