Following TRUMP, FTX adds futures contracts for five more presidential candidates
After launching a re-election futures contract for Donald Trump last week, crypto derivatives exchange FTX has added five more futures contracts for other U.S. presidential candidates.
The new contracts cover Bernie Sanders (BERNIE), Joe Biden (BIDEN), Mike Bloomberg (BLOOMBERG), Pete Buttigieg (PETE) and Elizabeth Warren (WARREN), FTX announced Monday. It means users can now further monetize their prediction of the 2020 U.S. presidential election results.
Like the TRUMP contract, all other five contracts will expire to $1 in the case the underlying candidate gets elected, else will settle to $0. Users can either go long or short on these contracts based on their predictions.
The TRUMP contract is currently trading at around $0.62, meaning users think there is a 62% chance of Trump winning the re-election. While from the five new contracts, WARREN has the least score, with 0.01% thinking she has a chance to win the elections.
Open interest, or the number of open futures contracts, is highest for the TRUMP contract (297,763), followed by BERNIE (137,003) BLOOMBERG (113,279), BIDEN (111,075), WARREN (102) and PETE (33.8). In terms of dollar value, open interest for TRUMP is around $184,000, while for BERNIE (~$24,000), BLOOMBERG (~$7,500) and BIDEN ($7,200).
Notably, FTX does not offer its services in the U.S. and accordingly, all the re-election futures contracts are not available for trading to U.S. residents. They are also not available to residents of the EU, U.K, Hong Kong, Singapore, and other prohibited jurisdictions.
