Some Use IEM To Bet On Elections
Bookmark & ShareNovember 9, 2006
Source: Wall Street Journal
In an election year full of talk, some people put their money where their mouths were. Avowed political junkies around the world spent the past few weeks trading on increasingly popular online markets that allow people to invest in futures contracts based on election outcomes, just as investors use such contracts to bet on interest rates, the weather and pork bellies. In Alaska, retired grandmother Judy White licked her wounds after betting the wrong way in a political-futures market run by the UNIVERSITY OF IOWA.
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