Really interesting what Iowa does here. Would love to hear JC's opinion. It looks like they did a prospectus and tried to fall under the '34 Securities Act. Then they get a no action letter. Wonder if they have found a loophole that others could use. However it is my experience that if everyone does it forces regulators to examine and reverse its no-action letter.
You're trading the probability of a Bush win. The prices actually represent probabilities. I believe that the books actually look to these prices to set their lines.
Wow, I just noticed, I have two more posts to 500.:think: