Intrade shenanigans from last night are starting to recede

[scheming daemons]

At one point last night, Obama's price on intrade was down to 52% due to market manipulation by big-money Romney supporters.


It is back up to 57% today and has been rising all day.


All the improving poll numbers for Obama have caused the money on the President to come rolling back in. And these folks are going to make a lot of money because of the shenanigans the Romney folks played yesterday.

[HERVEPA]

1. Wish I had been in at 52 rather than 62, but still expect to do very well.

[aquart]

2. Proving, yet again, that "big money" is insufficiently taxed.

[MrYikes]

3. 65% tax sounds good to me.

[geek tragedy]

4. Intrade is a very illiquid, self-selecting market that does not

capture anywhere close to the best synthesis of publicly available data.

It's very much a lagging indicator.

[daa]

5. I am not sure why anyone pays

any attention to intrade, they are invariably wrong, kind of meaningless.

[Chichiri]

6. Guess it's time to put the "market is self-correcting" thing to the test.

If we assume that the $$ for Operation Fuck Up Intrade ran out yesterday, then the market should be back to where it was -- low 60s -- within a day or two. If it works, then they can point to some anecdotal evidence that the free market (pbu$) works.

[RomneyLies]

7. Maybe Trump will dump $5 million into Intrade

[gravity]

8. Intrade is an outlier compared to other betting sites

Other casinos and betting sites in Europe have the odds of Obama winning between 65 -70%.

http://www.oddschecker.com/specials/politics-and-election/us-presidential-election/winner