If you were a betting man or woman, the money right now is on Sen. Barack Obama to win the 2008 presidential race over Sen. John McCain.
Intrade.com predicts political races and other major news items with bets placed by its members. It is such a reliable indicator that in 2006, according to ABC News, Intrade.com users were 100 percent accurate in predicting all the winners in the U.S. Senate races.
There are many different categories to place a wager, such as where the next category 3 hurricane will fall (Florida is in the lead) and if bird flu will hit the U.S. before the end of the year (stock just rose to $2.50 from 16 cents in 15 days.)
In the presidential election, 64 percent of the bets are going for Obama and 34.5 percent for McCain. Sen. Jim Webb leads Sen. Hillary Clinton, 23 percent to her 14 percent, to become Obama’s running mate. For McCain, although 20 percent of the money is backing Mitt Romney, Minnesota Gov. Tim Pawlenty is moving up on the inside at 15 percent.
Colorado is predicted to vote Democratic in the presidential election, giving nine Electoral College votes to Obama. And who are gamblers currently predicting as the winner of Colorado’s U.S. Senate race between Rep. Mark Udall and former Rep. Bob Schaffer? Udall stock is selling for $6.50, while Schaffer stock is showing at $3.50.