21-Oct-2005

Futures Trading With A Difference

The process by which a judge gets to sit on the Supreme Court in the US is a bit different than ours. I'd lightheartedly commented on it here. But I found out today that there is a futures market which trades in such things (link via Talking Points Memo). Real money changes hands apparently.

While you are there, note this contract which is also trading - OSAMA.CAPTURE.DEC05 (Osama Bin Laden to be captured/neutralised by 31 December 2005). The bid is 5.6 - that is, a probability of 5.6% of him being captured by that date.

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