WASHINGTON -- The votes of traders in political futures have been pouring in for months, and they say President Obama lands a second term in Tuesday's election.
The chances that Obama is reelected stood at about 71% on Tuesday morning on Intrade, near a one-month high and up about 3% for the day in early trading. The chances that Republican Mitt Romney wins the presidency were about 29%, close to a low for the past month and down about 4%.
Most people buying political futures on the site also apparently believe that Republicans will retain control of the House and Democrats will hold on to their majority in the Senate.
Intrade's futures have an excellent track record. They accurately predicted the result in every state in the 2004 presidential election, and all but two in the 2008 contest, according to CNNMoney.