Political betting markets, like the now defunct Intrade, can provide important insights into campaigns

In this year’s midterm elections, those interested in campaigns had a seemingly vast array of polls and predictions to choose from. Richard S. Grossman argues that political betting markets can also have a role to play in providing information about election campaigns. Using the now closed Intrade.com prediction market as an example, he argues that such markets can provide important summaries that apply financial market mechanisms to politics for those interested in campaigns.