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Prediction Markets Betting On Obama And Huckabee Winning Iowa

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On the eve of the first nominating contest of the 2008 U.S. presidential race, traders on the political prediction markets were betting on Thursday on victories in Iowa by Illinois Sen. Barack Obama and former Arkansas Gov. Mike Huckabee.

Obama, seeking to become the first black U.S. president, was seen by the traders as the likely Democratic winner, with a 46.2 percent chance, compared with a 32.9 percent chance for former first lady Hillary Clinton, midday trading on the Intrade futures exchange showed. Former North Carolina Sen. John Edwards trailed at 21 percent.

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