Is it greenlighted or greenlit? Is there a correct one or are both acceptable?
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Both are in use, with greenlit being slightly more common than greenlighted according to COCA (32 vs 21 hits).
See for yourself by searching for
Probably is "Greenlighted"
reference: So far three directors have greenlighted the project.
This meaning is based on one submitted to the Open Dictionary by: Boris Marchenko from Russian Federation on 30/08/2015
Either use is acceptable: TFD
tr.v. greenlighted or greenlit
"[He] commissioned the pilot that became 'Captain Kangaroo' and greenlighted the series" (Variety).
1992 Premiere Feb. 47/2 There he green-lit both The Silence of the Lambs and The Addams Family.