Prediction Markets + Market Predictions = Collective Forecasting That Pays Off

Not since 1928 has there been a US presidential election with neither a sitting president or vice president running.

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CNBC Streaming Video: Trading The Election

The start of the biggest election in 80 years begins Thursday. Not since 1928 has there been an election with neither a sitting president or vice president running. The polls have the leading candidates in a statistical dead heat. But on Fast Money, we don’t follow polls. We follow money. And the money is telling a different story. According to Intrade, an online prediction market that correctly called each Senate race the past two elections, Obama and Huckabee are clear favorites. But more important, the smart money is betting on a Democratic sweep, with the Dems taking not only the White House but also the Senate. [...]

I know you were wondering, so here’s the answer to your question, “What’s the music they’re playing in the background?“. :-D

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