IEM Allows Investors To 'Bet' on President

It's estimated that tens of millions of dollars have already been plunked down on the 2004 presidential election through online wagering and futures markets. But the size of the online pot spread out across a dozen or so Internet sites could possibly double as the campaign winds down, according to gambling experts. The business school at the UNIVERSITY OF IOWA runs a trading site called the Iowa Electronic Markets, open to the public. It's the only legal place to bet on the presidential race in the country since the university uses the website for research and educational purposes. (Unlike other sites, traders are limited to a maximum $500 investment.)