PredictIt Secures CFTC Approval for US Launch, Potential Crypto Market Impact

PredictIt, after years of regulatory hurdles, has finally received approval from the US Commodity Futures Trading Commission (CFTC). The platform is set to launch in October as a designated contract market (DCM) and derivatives clearing organization (DCO), marking a significant expansion into more liquid and regulated markets.

The platform's ambition to operate 'beyond politics' suggests it may follow Polymarket's lead by incorporating cryptocurrency betting. With the US adopting a more crypto-friendly stance under Trump, such a move could inject fresh capital into the digital asset space, particularly benefiting early-stage projects.

PredictIt boasts 400,000 active users, initially launched in 2014 as an academic project under a CFTC no-action letter. Its transition to a regulated entity could pave the way for crypto hedging opportunities, further integrating digital assets into mainstream financial markets.