From the picture provided, it is possible this case had a bullet in it at one time. Unfortunately, that proves nothing. With an item like this, one must engage in a lot of “what if” conjecture as part of the normal investigation of the subject. One “what if” could be that this was an atypical dummy loaded by the Government, probably at FA, since that is the headstamp. An equally valid “what if” would be what if someone had put a bullet in a draw piece set - some cartridge accumulators cannot stand empty cases in their collections - and a later acquisition was made of the ersatz dummy and the person who acquired it, believing the bullet was not original, removed it?
Either case could be true. My experience with FA .45 dummies in my own collection, which numbers, without dates which I don’t collect for themselves, about 1750 specimens of .45, is that this is a draw set piece. I have one almost identical except mine doesn’t have a case cannelure.
Unfortunatly, when dealing with items that in some given forms would not be standard for the manufacturer, we probably will never confirm the real answer, either way. That is not to say I am right, or any of the other answers on this thread are wrong. It simply represents a statement of differing opinions.