Asymptotically Weyl-invariant gravity (AWIG) is further developed within the Palatini formalism as a power-counting renormalizable alternative to general relativity (GR). An expression for the dimensionless exponent $n(\mathcal{R})$ is derived based on dynamical dimensional reduction. We show that this version of AWIG naturally resolves several theoretical issues normally associated with the Palatini formalism. A falsifiable prediction regarding the frequency of gravitational waves from binary black hole mergers is made. A preliminary analysis of gravitational wave GW150914 yields a maximum tension of $0.9\sigma$ with GR and marginally favors AWIG. A similar analysis of gravitational wave GW151226 yields a maximum tension of $2.7\sigma$ with GR and favors AWIG more significantly.

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• Alternative gravity theories
• General relativity
• Gravitational waves