Wall Street can now bet on the price of California water. Watch out

latimes.com – By Michael Hiltzik – Wall Street’s reputation as one of America’s premier innovation machines can only be enhanced by a new futures contract that began trading publicly on Dec. 7. It allows investors to bet on the price of water in California.

Those who take the gamble are effectively betting that the spot price for water will rise during the life of the contract; they’ll pocket the difference. Sellers are betting that the price will fall.

More… https://www.latimes.com/business/story/2021-01-03/wall-street-california-water-futures