The Constitutional Court on Wednesday (January 24) cleared Pita of any wrongdoing, deeming the firm he held shares in had no broadcast concession and was not a mass-media organization.
Harvard-educated Pita's bid to become premier last year was thwarted by lawmakers allied with the royalist military.
The verdict will be a boost for his anti-establishment Move Forward Party, the surprise winner of the 2023 election and the biggest party in parliament.
PITA: "I feel all right. I feel regular like another working days. In my mind right now is about the next steps of the kind of work that needs to be done, specifically, the strategic roadmap of the (Move Forward) party."
Move Forward courted young and urban voters with a bold agenda to end business monopolies and change a law that punishes insults of the monarchy with long prison terms.
Pita remains popular, backed by 39% of respondents in a poll last month with Prime Minister Srettha Thavisin at 22%.
Move Forward is not out of the woods yet.
The same court decides next week on whether its push to amend the law on royal insults amounts to an attempt to "overthrow the democratic regime of government with the king as the head of state."
The cases are part of a two-decade battle for power in Thailand pitting royalists, military and old money families against parties elected on populist or progressive platforms.
