'People With A Lot Of Money Could Influence The Election:' Interactive Brokers' Thomas Peterffy Reveals Why CFTC Will Not Allow Election-Related Contracts
Portfolio Pulse from Benzinga Neuro
Interactive Brokers' Thomas Peterffy announced that the CFTC will not allow election-related contracts on their new prediction market, ForecastEx, due to concerns about potential election influence. ForecastEx will launch on July 8, offering contracts on economic and climate indicators. The CFTC's decision follows a vote to reject event contracts based on political activity to protect U.S. customers.
June 27, 2024 | 8:21 am
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Interactive Brokers' new prediction market, ForecastEx, will not include election-related contracts due to CFTC regulations. This could limit the market's appeal but ensures compliance with regulatory standards.
The CFTC's decision to prohibit election-related contracts on ForecastEx ensures regulatory compliance but may limit the platform's attractiveness to users interested in political event speculation.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
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Goldman Sachs revised its year-end target for the S&P 500 Index to 5,600, noting election-related volatility. SPDR S&P 500 ETF Trust (SPY) may experience short-term volatility but is expected to recover post-election.
Goldman Sachs' revision of the S&P 500 target highlights potential election-related volatility. SPY, which tracks the S&P 500, may see short-term fluctuations but is likely to stabilize and recover after the election.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50