PredictIt Says It Can Expand Political Trades With CFTC Deal (1)

PredictIt, 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.

The CFTC, which oversees ...