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Intrade.com is one of the offshore entities that allows you to place a wager on countless political propositions and among the popular areas for wagers is who the presumptive presidential nominees will select as their running mate. I always enjoy visiting the site because you get to see how real money is being wagered, rather than the meaningless hot air we get from the talking heads on cable television.
So, it struck me this afternoon when I noticed that a pretty massive wager was placed on July 20 that Barack Obama (D) will select Sen. Chuck Hagel (R-NE) as his running mate.
On that day, it appears that someone purchased a single block of 20,000 futures contracts that the Republican Hagel will become the Democratic vice presidential nominee. The contracts would have cost approximately $13,500 (~$.675/contract), and if correct, the wager will return $200,000.