Intrade is a solid indicator of what is going on but it not always accurate or rational. There are frequently chances for small amounts of arbitrage between markets.
Not arbitrage, but last night you could have made money by predicting Paul and Romney would be in the top 2. By buying one and hedging the other way, there was an expected positive return, with the only risk being Santorum coming from behind.
Not arbitrage, but last night you could have made money by predicting Paul and Romney would be in the top 2. By buying one and hedging the other way, there was an expected positive return, with the only risk being Santorum coming from behind.