US President Donald J. Trump:

Crypto derivatives exchange FTX has launched a new futures contract called “Trump-2020 (TRUMP)” – allowing users to make money from their prediction of the 2020 presidential election results in USA.

Follow notification On FTX's Thursday, the TRUMP futures will expire to $ 1 in case Donald Trump wins the upcoming US presidential election, and to $ 0 otherwise.

Any presidential candidate who receives 270 or more votes will be considered for election, the announcement said. And if all the major traditional channels – The New York Times, 538, 270towin, Fox, and CNN, expect a certain candidate to be the winner before all the states announce the main votes. awake, then FTX will resolve the contract.

TRUMP operates in a manner similar to other futures contracts on the FTX exchange, notice. Users can Long or Short according to their own predictions about President Trump's chances of re-election. Transaction fees are calculated based on the user base fee and contract price. Profits and losses are paid in USD.

“The price of a TRUMP contract should be equal to the probability that Trump will run again,” the notice explained. “So if you think there is a 52% chance of Trump winning, TRUMP should trade at $ 0.52; Buying below this level will be good, as well as selling over 0.52 USD. ”

Notably, this unique contract deal on FTX will not be available in the US and residents of the US, E.U, U.K, Hong Kong and Singapore and other prohibited jurisdictions will not be able to trade TRUMP.

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According to The Block
Translated by ToiYeuBitcoin

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