Ultra pertinent remark from the Club For Growth blogger:

[The New York Post video] is an informative video, but I want to quibble about two things. I view the term “investing” as the act of buying an asset with the hopes of it appreciating in value sometime in the future. Used correctly, you “invest” in a new home, a company on the stock exchange, or a baseball card collection.

However, you can’t “invest” in politics as the New York Post reporter said you could. The reason why you can’t is because contracts sold on prediction markets like InTrade.com are not assets; they are derivatives. Their value is based on the outcome of some event. Like futures contracts for frozen concentrated orange juice. [...]

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I have been blogging about that for years, here, on Midas Oracle.

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