Monday, Jan 24, 2011
Intrade has listed markets for which party's candidate will win each state in the 2012 US Presidential election. These markets can be found under Politics > 2012 US States.
A contract will settle (expire) at 100 ($10.00) if the nominee from the party specified in the contract wins the Electoral College votes for the state specified in the contract in the 2012 US Presidential election.
The contract will settle (expire) at 0 ($0.00) if the nominee from the party specified in the contract does not win the Electoral College votes for the state specified in the contract in the 2012 US Presidential election.
This market will be expired once the Electoral College vote allocations are determined by voters on election day. Any changes to these totals when Electors officially cast their votes in December or when Congress meets to approve the votes in January will not affect this expiry. If there is some delay in determining the votes of a particular state (for example, a recount) then the markets will remain open until the issue is settled.
If a state allocates its Electoral College votes proportionally then contracts for this state will be expired according to who wins the majority of the state's Electoral College votes.
If the election is postponed until another date the contract expiration date will be moved according. If the outcome is delayed the contracts will remain open until the result is known.
Any changes to the result after the contract has expired will not be taken into account - Contract Rule 1.4
Due to the nature of this prediction market contract you are obligated to read Contract Rule 1.7 (Unforeseen Circumstances) and Contract Rule 1.8 (Time Protection). Intrade may invoke these rules in its absolute discretion if deemed appropriate.
Please contact the exchange by emailing email@example.com if you have any questions regarding this contract or interpretation of these contract specific rules, related exchange news articles or exchange rules before you place an order to trade.