Learn Italian: Vuole predire il mio futuro, ma non lo permetto. - You want to predict my future, but I do not allow it.

Here, lo is a pro-clausal pronoun. Instead of replacing a specific masculine noun, it replaces the entire preceding idea or action: predire il mio futuro (to predict my future). In English, we simply translate this conceptual lo as "it".

The English translation says "You want", but isn't vuole the he/she form?

Yes, vuole is the third-person singular form of volere. However, because the English translation uses "You", this sentence is clearly addressing someone using the formal Lei. If it were an informal conversation, it would be Vuoi predire...

Why is there no preposition after permetto? Don't we usually use permettere di?

You use permettere di followed by an infinitive when you state the allowed action right after the verb (for example, Non le permetto di predire il futuro). But here, the action is already fully encapsulated by the direct object pronoun lo placed before the verb, so no preposition is needed.

Is predire conjugated like a regular -ire verb?