Finance
There’s a Plan to Bring Sports Gambling to the Futures Market
Proponents of a new proposal before the CFTC say they’ve found a way for legal sportsbooks to manage their risk.
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The futures market is often referred to as Wall Street’s casino. Now, in a twist, there’s a proposal to let casinos start trading futures.
The marriage of the gambling industry and high finance is being pushed by a cryptocurrency exchange and a Washington lawyer. Hoping to grab a piece of the billions of dollars flowing into the U.S. sports betting industry, they’ve designed futures contracts based on National Football League games and are petitioning regulators to bless them.