Markets in Everything: Box-Office Futures
LA TIMES -- "Box-office futures have passed a final regulatory hurdle, clearing the way for the first bets to be placed in the near future, and overcoming objections by Hollywood that sought to block it.
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.
Media Derivatives already won CFTC approval for the exchange on which these contracts would be traded – the Trend Exchange -- but it needed the CFTC to sign off on the contract in order to allow traders to begin placing positions."
HT: Steve Bartin