What is this?
The 2005 Referendum C Futures Market is an on-line futures market where the contract payoff is based upon the outcome of the upcoming Referendum C vote. This market is operated by the staff of Mile High Delphi. It is designed to test the predictive nature of futures markets.
How does it work?
The 2005 Referendum C Futures Market works in two ways; The A market is a regular futures market. You can purchase one of two contracts, a "Referendum C To Win" contract or a "Referendum C to Lose" contract. Each contract will pay $1, depending upon the outcome of the election. The B market is a contest where each participant in the A market gets one vote on what the actual percentage of the vote will be for Referendum C (to 1/100th of a percent, for example 52.13%). These votes will be due no later than 5:00 PM, Mountian Time, Monday, October 31st.
Who can participate?
This market is for research and teaching purposes. Anyone with a valid e-mail address can participate. Please don't double dip, one e-mail address per person.
Are the participants playing with real money?
NO. This is only a beta. You will receive $100 worth of "Betting Disks" that you can use to purchase futures contracts. We have to get "no-action-letters" from the Division of Trading and Markets of the Commodity Futures Trading Commission so that we can operate with real money without the risk of prosecution. With those we can start a real money market for the 2006 elections. The top three winners (those who would have had the greatest return if we were using real money) and the investor who most closely guesses the actual percentage of the vote that Referendum C receives will win prizes.
UPDATE: (10/26/2005) The payouts for the A market are 1st $100, 2nd $50 and 3rd $25. The payout for the B market is $100 for first.
How do we sign up?
You will go to our sign-up page. All you need to create an account with us is a e-mail account and a user name.