Politics & Government
Iowa Electronic Market: Mitt Romney's Chances Drop After Paul Ryan VP Pick
A market that allows for the wagering on the eventual presidential winner is dubious about the selection of Paul Ryan as vice president. At least for now.
At first blush, Iowa Electronic Market traders aren't bullish on Paul Ryan.
Recent trades on the market designed to predict the eventual presidential winner indicated that prognosticators feel Ryan hurts Mitt Romney's chances to become president.
The price of a contract representing Mitt Romney’s winning the popular vote in November has fallen more than 5 percent on the IEM’s Winner Take All market since he named Ryan as his vice presidential candidate Saturday morning. His contract had been trading for 41.3 cents before the nomination was announced, but more than 2 cents to 38.9 cents Tuesday morning.
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The Tuesday price means the market believes Romney has a 38.9 percent chance of winning the popular vote in November.
The Iowa Electronic Market is operated by the University of Iowa's Tippie College of Business, and allows traders the option to buy and sell contracts based on what they predict will happen.
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See the current state of the IEM here.
And to read more about the Iowa Electronics Markets, click here.
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