John Deeth Blog: Obama takes Iowa Electronic Markets lead
Excerpted from this post at John Deeth Blog
Barack Obama has taken a commanding lead in trading on the Iowa Electronic Markets (IEM) following his caucus win. The Republican picture is more volatile, but John McCain is commanidng top dollar. In the University of Iowa business school project, traders buy and sell contracts on political candidates using their own, real money. The IEM has been known for its accuracy in predicting general election outcomes. Obama was trading at 70.1 cents at midnight, just as the returns from Dixville Notch and Hart's Location showed him winning the two tiny New Hampshire hamlets that traditionally vote at midnight on election day. That price is up from only 24 cents a week ago.