In a dramatic move, the political betting website, PredictIt.org made a dramatic swing Away from the prospect of a successful Gina Raimondo nomination for Commerce Secretary, under newly elected President Joseph Biden. A 9Cent move was recorded by the market towards a 67 or less vote for approval
According to PredictIt.org
“PredictIt is a research project of Victoria University of Wellington. In order to take full advantage of the research opportunities presented by prediction markets like PredictIt, we make our data available to members of the academic community at no cost. PredictIt’s market data offers researchers a wealth of information that can be used to further our understanding of a wide array of subjects in fields of study as diverse as microeconomics, political behavior, computer science and game theory. PredictIt is excited to support the work of our researcher partners as they push the boundaries of human knowledge.
PredictIt’s data partners represent universities and research organizations across the United States and around the world.”
However noble the academic purpose? Bettors are in fact, able to place bets and win cash on the outcomes of elections as important as the Presidential Election, down to results of individual party nominations and local elections.
Is Gina’s sudden dive in the “polls” a sudden wave of nostalgia by Rhode Islander’s desperate for her to stay? Or are Washington insiders aware of a chilling in the air, based on her poor performance handling the Covid 19 Crisis?
Only 50 Votes are necessary for a Cabinet Secretary to be approved.
What Do You Think!
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