PoliticOption prices: BIDEN + TRUMP = HORDEM + HORREP + SENDEM + SENREP = 538 is what we would naively Sep 16, 17:51
Oops -- forgot to add 3 to account for DC electoral votes. (nm) Sep 16, 17:53
I.e., HORDEM + HORREP + SENDEM + SENREP + 3 = 538 {nm} Sep 16, 18:01
Oh, there it is: "Independents who caucus ... do not count." Silly me. (nm) Sep 16, 18:10
Because this is an open market. Prices are determined by traders and what they think will happen vs. current prices. Sep 17, 18:10
Well, of course, but my point was that the arb hasn't been a stronger factor. (nm) Sep 18, 15:40
I guess I needed to have explicitly explained that point to avoid misunderstanding. Sorry. (nm) Sep 18, 15:46
It is not at all an efficient market. Most of the traders that will play them already have. Hard to move the market when there aren't many Sep 19, 20:32