Interactive Brokers plans to launch a market where investors can make bets on the outcome of presidential elections, taking advantage of a federal court ruling that effectively legalized election betting in the U.S., Alexander Osipovich of The Wall Street Journal reports. In a recent interview, founder and chairman Thomas Peterffy said the company plans to allow its users to place wagers on which presidential candidate will win in November. Additionally, Peterffy expects the company will follow up by doing similar wagers on swing-state Senate races.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on IBKR:
- Interactive Brokers reports August average revenue trades up 40% vs. last year
- Interactive Brokers expands overnight trading offering
- Interactive Brokers says it knows of no system-wide outages
- 3 Best Stocks to Buy Now, 8/2/2024, According to Top Analysts
- Interactive Brokers reports July DARTs up 38% y/y