BREAKING: The CFTC approves MDEXs real-money prediction markets on movie box office.

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&#8220-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.&#8221-

UPDATE:

NYT

WSJ

Felix Salmon

&#8220-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.&#8221-

Hollywood Reporter

AP

CNBC

AFP

CFTC: 3-2 in favor of approval of movie contracts -SO FAR.

What was said at the CFTC hearing on movie futures.

Hollywood Reporter.

Business Week. More.

CFTC.

John Stossel – Gambling in America – [VIDEO]

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Part 4 is about prediction markets and InTrade.

Part 4 is about InTrade&#8217-s prediction markets:

Hollywood clashed with Wall Street on Wednesday at a government hearing about the potential sale of futures contracts linked to box office receipts of major motion pictures.

&#8220-financial engineering synthetic derivatives&#8221-

More.

The CFTC plans to hold a public hearing next week to examine the growing controversy surrounding a plan by two firms to offer futures contracts tied to box-office receipts.

The CFTC plans to hold a public hearing next week to examine the growing controversy surrounding a plan by two firms to offer futures contracts tied to box-office receipts.

Felix Salmons hastily written NYT Op-Ed about the Cantor Exchange and MDEX

You will learn nothing.

Watch the US House video instead. You will have more facts and more arguments.

UPDATE: Mike Giberson has a remark on Felix&#8217-s piece.

Every investment in film is gambling.

A Case for Movie Futures &#8211- by Buzz Potamkin, former studio executive and producer, in the biz for 40+ years, now a consultant

Max Keiser: Cantor Exchange and Media Derivatives Exchange would be an insiders/traderss paradise.

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Max Keiser &#8211- 12:00 into (17,000 views already):

I disagree with Max that a prediction market quote can change perceptions that much.