[1] PredictIt is owned and operated by Victoria University of Wellington[2] with support from Aristotle, Inc.[3] The company's office is located in Washington, D.C.[4] Only United States citizens can bet on the site.

[5] The nonprofit educational project of the Victoria University of Wellington, New Zealand, "had to work around federal laws that prohibit online gambling and govern commodity futures trading.

[17] Victoria University of Wellington secured a no-action letter from the Commodity Futures Trading Commission (CFTC),[18] eliminating the risk of prosecution for illegal online gambling.

[2] These restrictions are modeled after the Iowa Electronic Markets, which previously secured a no-action letter from the Commodity Futures Trading Commission.

[21][non-primary source needed] On 26 January 2023, the Fifth Circuit granted a temporary injunction allowing PredictIt to continue operating while the court considered further term relief for the organization.