Eight years ago, the CFTC issued a no-action letter – a document that says the regulator wouldn’t make trouble about something that might not otherwise meet existing rules – to Victoria University of Wellington, New Zealand, the site’s operator. PredictIt was able to take wagers from its “traders” on such open questions as the future Republican nominee for the 2024 presidential election, whether the U.S. Senate will pass a reconciliation bill by Sept. 2 or whether Rep. Alexandria Ocasio-Cortez (D-N.Y.) will seek the White House.
