Alright, so for those of you who don't know about Intrade, it's this website where you can trade stock based on the likelihood of future events. Each event has a likelihood between 0.01% and 99.9%, which corresponds to a share value between $0.01 and $9.99. If the event happens, then any shares owned will turn in to $10.00 cash, and if the event doesn't happen, the shares will become worthless.
There's a pretty wide variety of things to trade on; everything from the "Isreal will bomb Iran before January 1st 2013" (17.0% ) to "The Dow Jones Industrial Average will close above 12000 at the end of 2012" (87.9%). But the most popular category to bet on is Politics. "Obama will win the presidential election" is at 79.0% right now, and I was thinking of buying some shares, just for fun.
Anyways, has anyone had any experience working with Intrade?
For those of you who haven't already, I urge you check it out, especially if you've got a good grasp on politics or stock trading.