CME and FanDuel’s prediction market offering will be based on contracts that are active for one hour each – a product that arguably resembles a micro-betting version of financial trading or stock day trading – CME Chairman and CEO Terry Duffy revealed.
Duffy appeared on an episode of Bloomberg’s Odd Lots podcast, recorded on Sept. 25 and released Thursday.
There, he shared new details about what the FanDuel/CME prediction market offering would actually look like. FanDuel revealed in August that it was getting into the world of event contracts through a joint venture with CME, which would apply for status as a registered futures commission merchant (FCM) with the Commodity Futures Trading Commission.
