The Commodity Futures Trading Commission gave the go-ahead on Monday  for the Cantor Futures Exchange amid doubts that such schemes will get off the ground as Congress considers financial reforms.
Cantor Fitzgerald’s exchange would in theory allow individual investors to speculate how much money films will gross in their first four weeks of release following a 3-2 vote by the Commission.
The first contract that investors could buy would be Sylvester Stallone’s action ensemble The Expendables.
The Commission previously approved a similar proposal by Media Derivates’ Trend Exchange aimed at institutional investors.
In the Trend Exchange plan, which in theory would commence in August with the release of the Matt Dillon heist thriller Takers, investors bet on opening weekend grosses.
However both plans may stall if Congress passes a far-reaching overhaul of financial regulation in the wake of the economic crisis. That vote may now be delayed until after the July The Fourth national holiday for various reasons including the death of a senator.