Comment Text:
I read in the newspaper today an article regarding a proposal by Nadex to trade future contracts (place a bet) on the outcome of political elections for the President, Senate and House positions. IS NADEX CRAZY OR HAS MONEY NOW CORRUPTED THE CORE OF OUR DEMOCRATIC PROCESS?
To think that monies would not be used to sway voters in order to manipulate the outcome of a futures bet is naive! The Supreme Court’s decision to allow Super Pack monies to circumvent campaign contribution laws is just one recent example of the uncontrolled influx of money being used to influence political campaigns. We can already see in the primary elections how large sums of money are being used by special interests to distort the facts, plant falsehoods, conduct character assassinations and otherwise brain wash the American voters in order to achieve their objectives. To say trading futures would be insulated from the same influence money would buy to affect the outcome of a futures wager is Totally Irresponsible to think.
There should be NO hesitation on the part of the Commodity Futures Trading Commission to deny Nadex’s request to trade futures on the outcome of ANY political elections. Have we not learned anything from the financial corruption and manipulation of future contacts resulting in the 2008 financial meltdown? We look to you, on our behave, to have the wisdom and courage to stand up to the Nadex and their special interests.
If money hungry Nadex traders want to bet on politics than have them go to Las Vegas!!!
R. F. Brecht
