InTrade and Action

20Oct08

For once, I’m in agreement with Ed Morrissey:

Why [should the GOP abandon the presidential run] — just because some people who like to bet say so?  InTrade is a bookie service, and nothing more.  InTrade has a very brief history, in which it has demonstrated no predictive value whatsoever.  It’s as reliable as an on-line poll.  It measures only those who feel motivated to buy shares (place bets) on one candidate based on the individual belief of their likelihood of victory.

While I think he belittles InTrade too much, writing it off as a glorified bookie, no one should be altering their real world plans based on contract values in that market yet. Especially with recent findings of tampering.

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