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About: Onion Futures Act     Goto   Sponge   NotDistinct   Permalink

An Entity of Type : yago:Whole100003553, within Data Space : dbpedia.org associated with source document(s)

Type: Thingyago:WikicatOnionsyago:Bulb113134059yago:NaturalObject100019128yago:Object100002684yago:Onion112433081yago:PhysicalEntity100001930yago:PlantOrgan113087625yago:PlantPart113086908yago:Stalk113129165yago:Whole100003553 New Facet based on Instances of this Class

The Onion Futures Act is a United States law banning the trading of futures contracts on onions as well as "motion picture box office receipts". In 1955, two onion traders, Sam Siegel and Vincent Kosuga, cornered the onion futures market on the Chicago Mercantile Exchange. The resulting regulatory actions led to the passing of the act on August 28, 1958. As of August 2022, it remains in effect. The law was amended in 2010 to add motion picture box office futures to the list of banned futures contracts, in response to lobbying efforts by the Motion Picture Association of America.