FTX exchange users could trade Trump re-election futures

by in Cryptocurrency News

TRUMP-2020 crypto FTX

Binance-supported FTX cryptocurrency exchange has added the TRUMP-2020 futures contract, which allows you to earn on the results of the US presidential election scheduled for November 3 this year.

According to FTX representatives, this financial instrument works in the same way as the rest of the contracts listed on the exchange. In particular, users can open long or short positions, profit or loss is calculated in US dollars.

If Donald Trump is elected for a second term, futures are executed at a price of $1, if not, then expiration occurs at around $0.

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FTX representatives explain, that the price of the TRUMP contract is in line with the likelihood that Trump will be re-elected. Thus, if you are 52% confident that Trump will win, TRUMP should trade at $0.52.

It is noteworthy that trading on FTX is not available for users from the USA, as well as the EU, UK, Hong Kong, Singapore, and several other jurisdictions.

Recall last month FTX launched Bitcoin-based options.