Wednesday, Oct 29, 2008
Intrade has opened markets on the 2010 and 2012 election cycles after achieving over 700% cycle-on-cycle growth in the 2008 markets.
"In response to numerous requests from our traders and the media we have taken the unprecedented step of listing these markets before the end of the 2008 cycle," said Intrade Chief Executive John Delaney.
The new markets allow traders to invest in long-term House and Senate control markets, presidential nominee markets, and presidential party winner markets. The markets, says Delaney, will give valuable real-money backed estimates of the political landscape in the United States over the next four years.
The first names on the Republican nominee markets are Mike Huckabee, Bobby Jindal, Sarah Palin, and Mitt Romney, with Barack Obama and Hillary Clinton listed on the Democratic side.
No Fees!
"As a gesture of thanks to the thousands of political traders from the world over who have contributed to the success of our 2008 election markets, the company will pay all trading fees on the 2010 and 2012 US political markets for the remainder of 2008," according to Delaney.