In the current era, the dominance of polls has inhibited election markets from thriving as they might. By all accounts betting markets withered with the dawn of polls (Rohde and Strumpf, 2004). Interest in them is renewed with the advent in recent years of electronic election markets such as the pioneering Iowa Electronic Stock Market and, more recently Intrade (formerly Tradesports) and other online election betting sites. Although the performance of these new infant markets may not always live up to their promise (Erikson and Wlezien, 2008), the future may be brighter. With growing interest and higher volume of trading, the performance of current trading markets may surpass that of its ancestral forebearers from the pre-poll era. By theory, the promise is that election markets, informed by polls plus other information, should perform better than polls alone. While empirical support for that claim may be in dispute, the future may hold a clearer verdict.
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