CFTC Approves Movie Futures In Cliffhanger Vote

Law360, New York (June 14, 2010, 7:20 PM EDT) -- In a split ruling Monday, the U.S. Commodity Futures Trading Commission approved the use of futures and options contracts on weekend motion picture revenues, opening the door for Media Derivatives Inc. to offer bets on which films will be the next “Avatar” and which the next “Ishtar.”

The CFTC voted 3-2 that the terms and conditions for movie futures put forward by Media Derivatives do not violate the Commodity Exchange Act or the agency's rules, with the upcoming Matt Dillon film “Takers” set to be the...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.