I learned about the IEM (Iowa Electronic Markets) from James Surowiecki’s Wisdom of Crowds. It is run from the Tippee College of Business at the University of Iowa. For years investors could “invest” in the outcome for various elections. And apparently it has had remarkable predictive value.
As of Monday September 3rd, the race for Winner Take All (WTA) in the 2012 US Presidental contest looks like this. (Blue is Democrat; Red is Republican.)