Posted AT 4:08 AM EST on 02/05/08
Regulator eyes bets on weather, election results
When business professor Tom Ross helped create the Election Stock Market at the University of British Columbia, he tried to figure out who would regulate it.The not-for-profit exchange was created in 1993 and it allows investors to buy contracts, essentially bets, on the outcome of federal and provincial elections.
Prof. Ross wasn't clear whether that was a gambling or a securities matter. In the end, the B.C. Securities Commission and the B.C. Lottery Corp.
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