Definition of the word wildcat

The term "wildcat" originally referred to a crudely crafted gang of speculators in the 1810s who violated established laws by issuing their own paper money, known as "wildcat bills," in response to economic crises. These private entrepreneurs hoped to make a quick profit by printing large quantities of currency and circulating them as legal tender. Their actions led to inflation, and their schemes ultimately collapsed, causing financial panic and distress. As a result, "wildcat" soon came to describe any speculative or devious scheme conducted without proper regulation or authorization, including, ironically, the unauthorized drilling for oil in the late 1800s, which gave the term its current association with a type of large, ferocious feline.