I saw that. Hard to believe it's a real market reaction, though you have to wonder what someone would hope to accomplish by that.
I invested in the Iowa Electronic Market futures with is the grandaddy of these Presidential Futures markets. Bush kept going up throughout the debate
US$: 1.70200 NewActivity
Refresh
10/8/2004 10:12:19 PM Iowa Electronic Markets
Pres04_WTA
Contract BestBid BestAsk LastPrice QuantityHeld YourBids YourAsks
DEM04_G52 0.201 0.211 0.213 0 0 0
DEM04_L52 0.239 0.260 0.280 0 0 0
REP04_L52 0.238 0.239 0.239 300 0 0
REP04_G52 0.302 0.304 0.297 150 0 0
DEM04 (Inactive) ---- ---- 0.401 0 0 0
REP04 (Inactive) ---- ---- 0.600 0 0 0
REPL52 means Bush wins with less than 52% of votes
REPG52 means Bush wins with greater than 52% of votes
Combined for Bush is now 53% versus combined for Kerry of 49%