For all you trader-gambler types here's a little PD bit from FT: Online market sees 80% chance for bailout plan Investors see an 80% chance the US Congress will approve a bailout of financial services companies on or before Sept 30, according to the online prediction market Intrade, reports Reuters. The market opened on Tuesday at 60% and has ranged between 55% and 95%. It traded at 80% as of about 2.30pm EDT. Intrade said at 444 trades in a little more than 24 hours, the bailout question has been one of the more popular markets recently, on par with a market on whether Republican vice presidential candidate Sarah Palin might be replaced. Intrade accepts trades on the probability of all manner of events, often with a political bent. lj
Hey. That's five simoleans a pop. But you're right. It was late (for me) and I didn't read the freakin' thing much past the headline. As for there being traders who aren't gamblers, what I really meant was those who incorporate the gambling trait into their trading to the extent required by this sort of market. Albeit a munchkin market. Yeh. That's what I meant to say. lj