HOLLYWOOD STOCK EXCHANGE
THE ENTERTAINMENT MARKET
THE ENTERTAINMENT MARKET
Not really....
Cantor/HSX had been working on this for years.
HSX introduced a new "CX" stock to get players interested in the new Cantor Exchange.
A new site (Cantor Exchange) was set up and testing happened.
The Cantor Exchange passed thru committees and was just waiting for final aprroval.
Another website had a similar idea for investing in box office futures and filed first. The second week of April 2010 there was scheduled a vote to approve their exchange. Cantor Exchange (real money HSX) was scheduled for approval voting two weeks later.
Many websites and news people were talking about HSX with real money. I was scheduled to be interviewed live on air by Katie Couric for CBS news on 4/16/10. The producer called and pre-interviewed me.
"Hollywood waived a lot of green paper at them." No that is not what happened.
What happened was Goldman Sachs.
https://www.sec.gov/news/press/2010/2010-59.htm
Goldman Sachs was a big thing. My interview was cancelled.
MPAA only spoke up against real money HSX starting 3/31/10 (link) which was two weeks before the other exchange was going to be voted on and roughly a month before real money HSX was going to be voted on.
Because of Goldman Sachs, US Congress was eager and motivated to make finnancial reforms. It was a big thing in the news. Huge. MPAA jumped on the bandwagon and made real money HSX look bad. MPAA got a lot of press. The finnancial reform was passed and in it somebody made it illegal to invest in futures derrivatives based on movie box office.
HSX to offer real money betting/investing/FanDuel style at some point? {nm} Apr 14, 14:12
Yes, here are some links Apr 14, 14:51
IIRC Congress basically laughed and then said "Not a chance". {nm} Apr 14, 15:42
But fantasy games (FanDuel/DraftKings) is legal and they use realistic outcomes of real sports statistics? Apr 14, 16:15
Well, you can always host the server outside USA and allow money to be played ;) (nm) Apr 15, 11:22
Actually Congress was onboard and one month away from final approval when the MPAA woke up and objected (link) Apr 14, 16:44
Okay, so Congress did not laugh but did say "not a chance" after Hollywood waved a lot of green paper at them. {nm} Apr 14, 17:47
Not really.... Apr 15, 11:26
CX stocks Apr 15, 11:28