PredictIt Approved for New Exchange by CFTC
- PredictIt has received approval from the Commodities Futures Trading Commission (CFTC) to operate as a designated contract market (DCM) and derivatives clearing organization (DCO).
- The platform, originally launched in 2014, was initially an academic project run by Victoria University of Wellington in New Zealand.
- PredictIt plans to expand its market offerings beyond political forecasts, although specific new markets have not been disclosed yet.
- The platform currently has over 400,000 active users and faced regulatory challenges before reaching a settlement with the CFTC in July.
- One of PredictIt’s most active markets is the 2025 election for Mayor of New York, where Zohran Mamdani is favored to win with an estimated probability of over 80%.
PredictIt’s approval by the CFTC marks a significant step forward for the platform, allowing it to offer more diverse trading options under regulated conditions in the U.S. The platform’s expansion plans aim to increase participation and liquidity across various markets beyond politics.
With over 400,000 active users and new regulatory approvals, PredictIt is poised to enhance its offerings and compete with other prediction markets like Kalshi and Polymarket. (Source)
