PredictIt Says It Can Expand Political Trades With CFTC Deal
The PredictIt building in Washington, DC.
Photographer: Jim Watson/AFP/Getty ImagesPredictIt, one of the original US politics-betting platforms, said it reached a new agreement with the Commodity Futures Trading Commission to allow it expand its operations.
The new agreement with PredictIt, a popular site for bets on politics, allows for an unlimited number of participants to trade in each market, ditching a prior 5,000-person cap, the company said in a statement. Traders can now wager up to $3,500 rather than $850 on any single contract. The new metric is the same as the individual political campaign contribution limit, and may be adjusted with each election cycle.