Will the California $18 Minimum Wage Initiative Pass?
Market Information
| Market Open Date | Market Close Date | Currency | Taker Fee | Maker Subsidy |
|---|---|---|---|---|
| 2024-08-05 | 2024-11-07 | USD | 0.075% | -0.025% |
Rules
On November 5th, 2024, a vote is slated to occur in the US state of California on the California $18 Minimum Wage Initiative (a.k.a. Living Wage Act), which if passed would increase the state minimum wage to $18/Hour by 2026 for all employers and continue to raise it on an annual basis to adjust for inflation. This market will resolve to "Yes" if California $18 Minimum Wage Initiative on the November 5, 2024 California ballot passes. Otherwise, this market will resolve to "No". If for any reason a vote on the California $18 Minimum Wage Initiative does not occur by November 15, 2024, at 11:59PM ET, this market will resolve to "No". The primary resolution source for this market will be official information from the Government of the State of California, however a consensus of credible reporting may also be used.
There are "maker subsidies" and "taker fees" on this market. The maker subsidies are .025 times the price, times the potential profit (e.g., Maker Subsidy per share = .025*Price/100*(1-Price/100)). The taker fees are .075 times the price, times the potential profit (e.g., Taker Fee per share = .075*Price/100*(1-Price/100)). Thus, the maker subsidy to buy 100 shares at 20 cents would be: 100*.025*(20/100)*(80/100) = $0.40, and the taker fee would be $1.20. The full fee schedule is here.