PredictIt Review

Long before Kalshi or Polymarket, Americans who wanted to put money on elections went to PredictIt. Launched in 2014 as an academic project of Victoria University of Wellington in New Zealand, it runs under a CFTC no-action letter that originally capped each trader at $850 per contract. After years of legal battles — including a 2023 attempt by the CFTC to shut it down that PredictIt fought in court — the two sides reached an agreement in July 2025 that raised the limit to $3,500 and removed the cap of 5,000 traders per market.^[1] The same CFTC letter (25-20) let the university hand the market to the Prediction Market Research Consortium (PMRC), a US non-profit advised by academics, with Aristotle International continuing as the company that runs the platform day to day.^[4]

How PredictIt works

Every market is a political question, often with several linked contracts (Who will win the Pennsylvania Senate race? with one contract per candidate). Each contract pays $1 if correct, priced from 1¢ to 99¢. You can sell before the market closes. The basics are the same as on any platform — see how prediction markets work.

Markets and liquidity

PredictIt is politics only: elections at every level, congressional votes, cabinet confirmations, approval ratings and plenty of wonky niche questions. Its community is knowledgeable and its comment threads are a pleasure. But volume has moved: Kalshi and Polymarket together handled around $2 billion in US election trades in 2026 alone, and their spreads are typically tighter.

Fees

PredictIt simplified its fees on 23 September 2026:^[2]

• 10% of your profit on every winning position — unchanged.
• No withdrawal fee by ACH or check (it used to take 5% of every withdrawal).
• Free ACH deposits; card deposits carry a processing cost of about 3% after one fee-free card deposit of up to $1,000.^[3]

Those fees make PredictIt prices less efficient than other markets, which creates arbitrage opportunities — but the fees usually eat them. Test any idea with the edge calculator.

Settlement, payments and app

Legality and safety

PredictIt is legal in the US, but it's not a CFTC-designated exchange like Kalshi, Polymarket US or ForecastEx. It relies on no-action relief tied to its academic research purpose, now held through PMRC. In practice it has run for over a decade and paid out reliably. See are prediction markets legal? for how the rules differ.

How to open an account

1. Sign up at predictit.org — 18+, US resident.
2. Verify your identity.
3. Deposit by ACH (free) or card (fee after one free deposit).
4. Buy shares in political markets, subject to position limits.
5. Withdraw by ACH or check — free since 23 September 2026.

Support: Support is by email and the help centre.

PredictIt: our verdict

PredictIt deserves credit as the pioneer of US political markets, and its community remains its best asset. Dropping the 5% withdrawal fee in September 2026 helps, but a 10% cut of every winning trade is still far higher than regulated rivals with deeper liquidity. Unless you love its niche markets, Kalshi or Polymarket will serve you better. Full ranking: best prediction markets.