NYC congestion pricing implemented before election?
Market Information
| Market Open Date | Start Date | Market Close Date | Currency | Taker Fee |
|---|---|---|---|---|
| 2024-06-06 | 2024-06-05 19:32 ET | 2024-11-05 | USD | 0.075% |
Rules
On June 5, Governor of New York Kathy Hochul delayed the implementation of the "Central Business District Tolling Program", which was initially set to go into effect on June 30, 2024. You can read more about this story here: https://apnews.com/article/congestion-pricing-tolls-governor-kathy-hochul-0fd7a1025b693a3bcf75dcd56161fc73 This market will resolve to "Yes" if the New York City congestion pricing program is implemented by November 4, 2024, 11:59 PM ET. Otherwise, this market will resolve to "No". Note: This market is about whether congestion pricing is implemented before the resolution date, namely that at least some drivers are charged congestion pricing fees. The primary resolution source for this market will be official information from the government of New York City, however a consensus of credible reporting will also be used.
There are "taker fees" on this market. The taker fees apply when you match an existing order on the order book, whereas the maker subsidy happens when you place an unmatched order that can be matched later. The taker fees are .075 times the price, times the potential profit (e.g., Taker Fee per share = .1*Price/100*(1-Price/100)). Thus, the taker fee to buy 100 shares at 20 cents would be: 100*.075*(20/100)*(80/100) = $1.20.