Political Futures Market Shot Down (For Now)

I previously blogged about an attempt to establish a Federally-regulated futures exchange that allows individual investors to wager on political events. Unfortunately, it looks like the idea will be shot down:

The Commodity Futures Trading Commission is poised this week to reject plans for so-called political event contracts, a lucrative derivative deal that would allow firms to wager on Congressional races as well as the presidential battle, the people briefed on the matter said. The agency is expected to decide, in part, that such trading amounts to gambling — and that it could unduly influence election results.

I’d disappointed – I think political futures exchanges could be a valuable tool in shaping and predicting our political world, and I think that the influence on election results would certainly be no more damaging than the current ridiculous campaign finance laws.

Advertisements

About thinklikeafox

I'm a Naval Officer living in Southern California. I hope to be attending law school in the next year or two, and I started writing this blog out of a desire to improve my writing and critical thinking skills after a couple years outside of academia.
This entry was posted in Politics and tagged , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s