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Betting on who is going to be the President of America with Futures Contracts
Futures Contracts made on American Presidential Candidates live on FTX Exchange
The happening buzz around the world with all of us bored of Corona case loads has got to be the American Presidential Election 2020. Even in India news channels are overloaded with the American Election news updates, then I can imagine the craze about the American Presidential Election in other parts of the world.
Yesterday, when I was reading crypto news and got wowed with Bitcoin price having gone to 14500$, I subsequently got wowed to learn that there is a TRUMPWIN and TRUMPLOSE futures contract in crypto derivatives exchange FTX.
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Latest price of TRUMPLOSE futures contract - popular bet placed by most too!!
The ironic aspect of this futures contract is that US Citizens are prohibited from indulging in this Presidential 2020 Election Futures contract trading as FTX Exchange does not extend its services to the jurisdiction of the United States.
Yeah funny...anyway.
1$ or 0$ expiration of these Future Contracts based on the Presidential results
This Presidencial Futures Contract trading 2020 has futures contract with these contracts - TRUMPWIN, TRUMPLOSE and contracts on other contesting presidents -
BERNIE; BLOOMBERG; PETE; WARREN; BIDEN. There is also a TRUMPFEB contract.
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Celebrating the frenzy behind the American Presidential Elections 2020 - Future Contract tokens at FTX Exchange
Each of these specific presidential candidate futures contracts except for TRUMPFEB expires whenever the Presidential Candidate is declared after voting results are concluded. The winning futures contract will be on the President who wins the election and that contract will expire at 1$ while others contracts expire at 0$.
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Latest price of TRUMPWIN futures contract shows there are less bets placed on Trump win. Notice the -21.52% price fall!!
TRUMPFEB contracts expire only on FEB 2021 to 1$ if Trump is president that time and to 0$ if he is not the president at that time.
Traders have the option of converting their TRUMP future contracts to TRUMPFEB by paying a 0.10$ fee per futures contract.
And the leading futures contract are ...
Anyway, all the data shows that Biden futures contract token is in heavy demand and is leading with the price of 0.936$.
Joe Biden is the best performing futures contract token - Biden is leading in the presidential race undoubtedly!!
There are also a lot of takers for the TRUMPLOSE future contract which is at the price of 0.950$.
One can follow the updates on these futures contracts here at - https://ftx.com/president2020
