Prediction markets place bets on Palin’s permanence
The online prediction market Intrade sees a 12 percent chance that Alaska Gov. Sarah Palin will be withdrawn as the Republican vice presidential nominee before the U.S. presidential election on November 4.
Intrade accepts trades on the probability of events such as whether there will be a recession, whether the U.S. Congress will lift the ban on offshore drilling or whether the United States or Israel will launch a military strike on Iran. It opened the Palin betting market on Tuesday morning after a series of revelations about the Alaska governor whom Sen. John McCain chose as his running mate, including that her 17-year-old daughter was pregnant.
The market opened at 3 percent that she would have to withdraw as McCain’s running mate and climbed as high as 18 percent before settling down to 12 percent on 632 trades as of noon EDT. The markets are priced from zero to 100, with zero meaning investors see no chance an event will happen and 100 meaning it already has happened.
Separately on Hubdub.com , which offers virtual cash in exchange for correct predictions, various wagers were made , from the chance of Palin stepping down as the VP nominee (currently a 19 percent chance) to whether her biography video would mention her NRA membership (80 percent).
What do you think the chances are that Palin will withdraw? Put your prediction — from 0 percent to 100 percent — in comments. Read the full Reuters story.
(Reporting by Daniel Trotta)