PredictIt Receives CFTC Approval and Plans October Launch in the US
PredictIt has received approval from the US Commodity Futures Trading Commission (CFTC) and is set to launch in October as a designated contract market and derivatives clearing organization. This regulatory clarity will allow it to expand into broader markets.
Key points include:
- Over 400K active users on PredictIt since its inception in 2014
- Initially operated under a CFTC no-action letter, which was revoked in 2022, leading to legal challenges
- Plans to potentially include crypto betting, similar to competitors like Polymarket
- Polymarket recently received CFTC approval, indicating a competitive landscape
If PredictIt incorporates crypto predictions, it could drive capital towards early-stage digital asset opportunities.
Potential Impacts of PredictIt's Launch
The expansion may increase interest in presales such as:
- Maxi Doge ($MAXI): Nearing $2M in presale with high staking rewards and future trading plans
- Aethir ($ATH): A decentralized GPU cloud platform that recently spiked 50% after expanding support for AI and Web3
- Best Wallet Token ($BEST): Raised $15.6M with low gas fees and governance features in a user-friendly wallet
Each project offers unique utility and potential for growth, particularly if PredictIt’s entry revitalizes interest in crypto investments.