Obama Stocks Win In Predictions Market
RENEE MONTAGNE, host:
Now, for all of you out there, if you by chance had invested your money in Barack Obama, you would have made a profit. Stocks in Obama and McCain, or rather their chances of winning, have been trading on a political futures market called Intrade. Millions of dollars have poured into this prediction market. And at the start of the week, Obama's stock was trading at 90 cents, as we told you, meaning a $90 investment would have netted you 10 bucks. Shares of the winning candidate settled at 100.
STEVE INSKEEP, host:
However, if you bet on Obama on November 5th of last year, one year ago, when he was still a long shot, his stock was selling for six cents. A $100 investment one year ago would now be worth $1,639, which certainly outperforms the stock market at the moment. And investors are, by the way, already placing bids for the U.S. presidential race which is coming in 2012. And I believe that race begins, Renee, at approximately...
MONTAGNE: Two minutes. No.
INSKEEP: Two minutes from now.
MONTAGNE: Certainly by the end of this show.
INSKEEP: Yeah, by the end of the day, or something like that. And that's the business news on Morning Edition from NPR News. I'm Steve Inskeep.
MONTAGNE: And I'm Renee Montagne.