From the Associated Press:
LOS ANGELES — U.S. regulators will allow the creation of a market for trading futures contracts based on the predicted box-office revenue of Hollywood movies.
Major Hollywood studios had opposed such a market, calling it a form of “legalized gambling.”
But the U.S. Commodity Futures Trading Commission said Friday that it was approving the Trend Exchange. The commission is still reviewing the kind of contracts that would be traded on the exchange, as well as a proposal to create a second market called Cantor Exchange.
Copyright © 2010 The Associated Press. All rights reserved.
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