November 29, 2023

FTX users can trade Trump re-election futures

FTX users can trade Trump re-election futures

Crypto derivatives exchange FTX has launched a new futures contract TRUMP-2020. Now users will be ablemonetize your predictions for this year’s presidential election.

According to FTX, TRUMP futures will be converted to $ 1 if Donald Trump is re-elected as president, and $ 0 otherwise.

Representatives of the platform also indicated that anythe candidate who receives 270 electoral votes or more will be recognized as the elected president. If all major media – The New York Times, 538, 270towin, Fox and CNN – declare the victory of a particular candidate before the vote count is officially completed, FTX will settle the contract in advance.

TRUMP works just like all the others.stock futures. Users can take a long or short position, given their own assessment of Trump's chances of re-election. Profit and loss are calculated in USD.

FTX employees explain:

The price of one TRUMP contract must be equalTrump's chances of re-election. If you think his odds are 52%, TRUMP should trade at $ 0.52. Buying lower and selling above $ 0.52 will be profitable.

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