Want to Bet on the CPI or Jobs Report? A Prediction Market Is Coming to This Brokerage [Yahoo! Finance]
New York Times Company (The) (NYT)
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Source: Yahoo! Finance
The trading platform Interactive Brokers Group is launching contracts that allow customers to wager on future events related to the economy and climate. Most Read from The Wall Street Journal Americans Chasing High Interest Rates Risk Falling Into a ‘Cash Trap' Volkswagen to Invest Up to $5 Billion Into EV Maker Rivian The Clock Is Ticking on Jane Fraser's Citigroup Turnaround New York Times to Move Podcasts Behind Paywall Forget Shale: Canada's Oil Sands Are Having Their Moment The contracts let users take yes-or-no positions on questions such as whether the consumer-price index will rise above a certain number or if the global temperature will reach a specific level. Interactive Brokers' prediction market, ForecastEx, is set to begin operating July 8, the company said. ForecastEx recently received the necessary approvals from the Commodity Futures Trading Commission to operate. The contracts are a new type of derivative and aren't securities. The contracts that wi
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