Polymarket vs PredictIt

PredictIt was one of the first widely-used prediction market platforms in the US, operating under a CFTC no-action letter. Polymarket entered the space with a crypto-native approach and deeper liquidity. Here is how these two platforms compare.

Feature	Polymarket	PredictIt
Type	Decentralized (Polygon)	Centralized (CFTC no-action letter, winding down)
Founded	2020	2014
Markets	1,000+ active	Limited (winding down)
Fees	~2% on winnings	10% on profits + 5% withdrawal
Min Trade	$1 (USDC)	$1 (USD)
Liquidity	Very high	Low (850 trader cap per market)
Copy Trading	Yes (via PredCopy)	No
Mobile App	No (web only)	No (web only)

Key Differences

•PredictIt caps each market at 850 traders and $850 per trader, severely limiting liquidity. Polymarket has no such limits.
•PredictIt charges 10% on profits plus 5% on withdrawals, making it one of the most expensive platforms. Polymarket charges roughly 2% on winnings.
•PredictIt is winding down after losing its CFTC no-action letter. Polymarket continues to grow rapidly.
•Polymarket offers copy trading through PredCopy, automatically following top traders — something PredictIt never supported.

Verdict

Polymarket is the superior platform in almost every dimension: lower fees, higher liquidity, more markets, and no trader caps. With PredictIt winding down, Polymarket (with PredCopy for copy trading) is the natural successor for prediction market enthusiasts.

Frequently Asked Questions

Is PredictIt still operating?

PredictIt is in the process of winding down after the CFTC withdrew its no-action letter. Existing markets are resolving but no new markets are being created.

Can I move from PredictIt to Polymarket?

Yes. You will need to set up a crypto wallet and fund it with USDC on Polygon. The trading experience on Polymarket is similar but with better liquidity and lower fees.

Why was PredictIt shut down?

The CFTC revoked PredictIt's no-action letter in 2022, ordering it to wind down operations. This was part of broader regulatory changes in the US prediction market space.

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