Place your bets on next president

A small Chicago futures exchange aims to be the first regulated U.S. market to offer legal betting on the outcome of a U.S. presidential election.

The North American Derivatives Exchange is set to ask the Commodity Futures Trading Commission on Monday for its stamp of approval on contracts tied to the winner of the 2012 presidential election as well as on which political party will dominate the U.S. House of Representatives and Senate.

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