FTX Includes 5 Additional Presidential Candidates Future Contracts, After Trump

FTX Includes 5 Additional Presidential Candidates Future Contracts, After Trump

Following the dispatch of a re-election futures contract for Donald Trump a week ago, the FTX crypto derivatives exchange included five additional futures contracts for different US presidential candidates.

The latest contracts include Bernie Sanders (BERNIE), Joe (BIDEN), Mike (BLOOMBERG), Pete Buttigieg (PETE) and Elizabeth (WARREN), FTX reported on Monday. This implies clients would now be able to cash in their predictions for the US presidential political race in 2020 much more.

As with the TRUMP contract, all other five contracts expire up to 1 US dollar if the main candidate is elected, otherwise up to 0 US dollars. Users can enter into long or short contracts based on their forecasts.

The TRUMP contract is currently trading at around $ 0.62, which means users believe there is a 62% chance of defeating Trump on re-election. While Warren has the lowest score out of five new contracts, while 0.01% think she has a chance to win the election.

Open interest, or the quantity of open futures contracts, is the biggest for the TRUMP contract (297,763), trailed by BERNEY (137,003), BLOOMBERG (113,279), BIDEN (111,075), WARREN (102) and PETE (33.8 ) In dollar amounts, the open interest for TRUMP is about $ 184,000, and for BERNIE (~ $ 24,000), BLOOMBERG (~ $ 7,500) and BIDEN ($ 7,200).

It is noteworthy that FTX does not offer its services in the United States, and, accordingly, all re-election futures contracts are not available for trading to US residents. They are likewise not accessible to the populace of the EU, UK, Hong Kong, Singapore, and other denied location.

Source: Yahoo Finance

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Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.