Do The Markets Know Something We Don't?

The Alberto Gonzales contract at TradeSports just went through the roof...this would be the same TradeSports that has done so well in picking political outcomes, including the 2004 election. Very interesting...

In any event, the price of the Gonzales contract has essentially doubled on heavy volume...when the choice is between random talking heads and people who are putting money where their mouth is, always follow the money...

UPDATE 10:44 p.m. central: Thanks to that Political Junkie Erick-Woods Erickson of Red State for the link (he's been outstanding on this story, so keep up with what he's got to say), and also to the still-chillin' Prof. Bainbridge, who's curious as to whether there are any West Wing accounts currently active...

UPDATE 2 07/05/05 6:56 a.m. central: Thanks also to Todd Zywicki at the Volokh Conspiracy for the link...I believe it's my first from that excellent group blog...for what it's worth, the contract is up again this morning...the TradeSports market now predicts there is a 1 in 3 chance it will be Gonzales...

UPDATE 3 07/05/05 8:28 a.m. central: Yay, Instalanche! Many thanks to the wise, glorious, and incandescent Glenn Reynolds, most noble of beings...or am I being obsequious?...seriously, thanks for the link. Note also, on the Gonzales front, Bush's praise of Gonzales, and his warning to both sides to cool down a little (certainly doesn't rule Gonzales out, to say the least)...