Betting on Health Care

The Washington Independent's David Weigel points out that the online futures betting site Intrade has seen the price shoot up for bets on "Obamacare to become law before June 30."

The current trading price is at $6.96, which means the Intrade betting market's mathematical consensus is a 69.6% likelihood that said "'Obamacare' health reform" will pass before June 30.

That price shot up March 3, the day President Obama made his post-health-care-summit speech in the East Room, laying out his own proposal, with some GOP ideas folded in after the summit, to a TV audience--so it looks like the president's personal involvement, and all the talk of health reform as an inevitability, has succeeded in creating the impression that it is.

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