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Oddly, the same code prohibits dealing onion futures and movie ticket receipts: > 7 U.S. Code § 13–1 - Violations, prohibition against dealings in motion pictu
by sevenless 10y ago
Oddly, the same code prohibits dealing onion futures and movie ticket receipts:
> 7 U.S. Code § 13–1 - Violations, prohibition against dealings in motion picture box office receipts or onion futures; punishment
> No contract for the sale of motion picture box office receipts (or any index, measure, value, or data related to such receipts) or onions for future delivery shall be made on or subject to the rules of any board of trade in the United States.
https://www.law.cornell.edu/uscode/text/7/13-1 https://www.law.cornell.edu/uscode/text/7/13-1
- 21 10y agoThere was some talk a few years ago about trading futures on movie box-office returns, meaning betting if a future movie will be successful at box-office or not. This supposedly would have allowed movie studios to hedge in case of a potential dud. But it was forbidden for some reason. This might be related to that.
- tedunangst 10y agoHollywood accounting is notoriously cooked, such that even blockbusters "lose" money. A futures market would be a disaster. Maybe if restricted to actual ticket sales, but that still seems very easy to manipulate. What constitutes an "actual" ticket?
- speeder 10y agoThere is a movie I believe, about scammers trying to use futures market to have illegal profits by betting on failure of their theatrical piece, and then making a piece thqt praises Hitler, hoping it would bomb really hard.
- arethuza 10y agoThat'll be "The Producers": https://en.wikipedia.org/wiki/The_Producers_(1968_film) https://en.wikipedia.org/wiki/The_Producers_(1968_film)