Starting next week, the public can place real monetary bets on how well they think Hollywood films will fare at the box office, when the Cantor Futures Exchange opens its online futures market for movies, the New York Times reports.
Parent Cantor Fitzgerald already owns the web site HSX.com, where its 200,000 active users can bet with fake money. Regulators recently gave Cantor the go-ahead to move into real-world trading on films. The betting will begin March 15.
According to the report, "[B]uyers beware: if “Avatar” is any indication, the public isn’t always so wise about Hollywood fortunes. Most users of HSX.com predicted a flop, and if those users had placed real money on the Cantor exchange, they would have taken a serious hit."
Can a legalized futures market for TV shows be far behind?