Who will win the Democratic nomination? Who will be the next president? When might Britney Spears go back to rehab? And who will be the next “American Idol”?
On Intrade traders can buy shares of Hillary Clinton and Barack Obama. Their price indicates whether or not buyers believe the candidate has a good chance of winning the Democratic nomination.
Don’t look for guidance from TV pundits or gossip magazines. Instead, go to the Web site where people are putting their money where their mouths are: Intrade.
Intrade is a futures market, just like commodities markets where people make trades betting on the future prices of things like oil, gold and pork bellies. On Intrade, thousands of people bet on the outcomes of current events.
Here’s how it works: If you’re convinced that Hillary Clinton is headed for the White House, you can log onto Intrade.com and buy shares betting that she’ll get the Democratic nomination. Right now, her share price is low, around 10 cents, because many think it’s unlikely she’ll be nominated. But if things start looking up for Clinton, more people will buy her shares, and the price of each share will rise. If she actually gets the nomination, each share will be worth a dollar and you will have made a hefty return on your investment.
Source: abcnews.go.com via politisite
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