There's Cash in Them Flakes
Kristin Gerard
The CME will let you bet on the snow.
There are a few safe bets in Chicago: our politicians will be corrupt, our streets will be under perpetual construction and it will snow in the winter.
Now you can make some money off of at least one of the city’s personality traits, according to Crains.
The Chicago Mercantile Exchange this week announced four new futures contracts that will allow investors to hedge against heavier or lighter snowfall at four national airports.
Beginning December 7, investors can bet on snow at Chicago O'Hare International Airport, New York LaGuardia Airport, Minneapolis/St. Paul Airport and Detroit Metro Airport and cash in.
The contracts have drawn interest, not surprisingly, from snow removal, salt and landscape companies.
Two years ago the CME launched similar futures contracts for New York’s Central Park and Boston’s Logan International Airport.
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