hedging the election

TradeSports is a cool site with futures markets for all sorts of events. I've been following the markets for the GOP keeping control of the House and Senate in this year's elections for a while. Just recently, I decided to buy some contracts in the House market, meaning I would make money if the Republicans keep control of the House. I figure that if they lose, I'll be happy enough to not care about the lost money, and if they win, the money I gain will be some small consolation. It's a fun experiment. Right now, the market is predicting only a 46% probability of the Republicans winning, so things are looking good (except for my small investment)...