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"A new law has been enacted by Congress that bans trading of futures contracts based on motion picture box office receipts, which was the first contract that Cantor Exchange had anticipated making available to its participants. This legislation has caused us to postpone any trading of box office receipt contracts for an indefinite period of time." Source: Cantor Exchange - Home
Usually this means some group with political pull got this law passed. Does anyone know who stands to benefit from this? Is this just Wall Street nipping some potential competition in the bud or did someone in Hollywood have a reason to shut this down? Curious if anyone knows the motivations behind killing this idea.
Most banks that do enter this business are providing funding to financiers.
Betting on the success of a film seems pretty predicable, in most cases you'd never create a market, people will either highly sell or highly buy the product. Without a market you've got nothing to trade, except popcorn futures maybe :-)