Feds Move Closer to Box Office Betting Exchange

Federal regulators have allowed a new online exchange to proceed to trade future box-office receipts for movies.

A divided Commodity Futures Trading Commission approved by Monday's deadline the proposed futures contracts for the new Trend Exchange. That means the movie futures trading can proceed. The vote was 3-2.

Major Hollywood studios strongly oppose the idea. They say rival studios could sabotage films by betting against them.