Reuters, 16/05 13:55 CET
By Anjali Athavaley and Charlotte Greenfield
NEW YORK/WELLINGTON
(Reuters) – Erik Duhaime is a passive stock market investor, but he
isn’t afraid to short Donald Trump or go long on Hillary Clinton.
The 28-year-old from Cambridge, Massachusetts, trades on
PredictIt, an online political stock market that allows users to wager
small amounts of money on “yes” or “no” predictions about whether an
event will occur. That includes who will win the U.S. presidential
election in November.
“This is probably one of the ways I restrain myself from
being active in the stock market,” said Duhaime, a PhD student at
Massachusetts Institute of Technology Sloan School of Management, who
checks the site a few times a week for fun.
PredictIt, which was launched in 2014, now has more than
30,000 traders registered, up from 19,000 at the end of 2015, and has
received shout-outs from pundits and presidential campaign advisors
alike. Users must be U.S. residents and registered voters.
PredictIt says it is not like an online gambling site
because it mainly exists to supply its data to universities for academic
research, one of the main reasons the U.S. Commodity Futures Trading
Commission allows it to operate legally, according to a letter issued by
the regulator in 2014. It is jointly run by Victoria University in
Wellington, New Zealand, and a Washington-based political consulting
firm Aristotle International Inc.
Click here for the full article.
Source: Euronews
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