BREAKING: The CFTC approves MDEXs real-money prediction markets on movie box office. Posted on June 14, 2010 by admin “-In a 3-2 vote, the Commodity Futures Trading Commission on Monday afternoon approved a contract created by the company Media Derivatives that would allow traders to bet on the gross receipts that a movie pulls in during its opening weekend.”-UPDATE:– NYT– WSJ– Felix Salmon– “-If we approve these types of things on the arguments posed in favor of them, we could be approving things like death pools or terrorism contracts, something Congress surely never intended.”-– Hollywood Reporter– AP– CNBC– AFP Related PostsWhat the Cantor Exchange (HSX) and the Media Derivatives Exchange (MDEX) really said to the US Congress about movie futures (a.k.a. box-office derivatives) – [VIDEO]CFTC: 3-2 in favor of approval of movie contracts -SO FAR.Every investment in film is gambling.
