PredictIt Secures CFTC License for New Exchange Launch

PredictIt has secured a significant development in its ongoing interactions with the Commodity Futures Trading Commission (CFTC). Here are the key points ¹ ²:

- *CFTC Approval*: PredictIt has received CFTC approval to launch a regulated US exchange. This move is expected to increase liquidity and offer higher political contract limits.

- *New Agreement*: The prediction market operator reached a settlement with the CFTC, paving the way for PredictIt to operate under CFTC supervision.

- *Increased Liquidity*: With the new agreement, PredictIt can increase liquidity and offer higher contract limits for political markets.

- *Regulatory Compliance*: PredictIt has been working to comply with CFTC regulations, and the settlement marks a significant step in this process.

- *Broader Implications*: The development may have broader implications for the sports betting sector, potentially impacting state-regulated sportsbooks and tax revenue.

It's worth noting that PredictIt has had a complex relationship with the CFTC, including a lawsuit challenging the agency's decision to shut down the platform. However, with the recent approval, PredictIt seems poised to move forward with its plans for a regulated US exchange ³ ⁴.