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Good news....looks like the debate last night had a sizable effect on Intrade. Obama's chances of winning the re-election had been pushing 75-80% for a couple of weeks now.

Well, this morning, it plummeted down to 66% after his poor performance. Awesome.

I just took a look at the InTrade market to see how big it is and here I found:

Total size of the Obama-gets-elected market (shares outstanding times current price): $5.7 million.

Total size of the Romney-gets-elected market: $3.4 million.

That's a total of $9.1 million.

In comparison, the Obama campaign reportedly had $130 million cash on hand at the end of August, while the Romney campaign had $191 million.

Conclusion 1: it would be trivially easy and cheap for either campaign to manipulate these markets.

Conclusion 2: in context, they don't mean much.
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