Iowa Political Futures Market Quotes Currently if you have $130 you could win $1000 if the Democrats take both the House and Senate. For $480 you can win $1000 if the Republicans keep the House but not take the Senate. I think a prudent bet is both, $610, and collecting your $1000.

The behavior of people betting the election right now is 41% chance of Republicans taking the Senate and 82%% for them keeping the House. Wrong!

Salon had an article on how well the Iowa market did for the presidential election in 2000. Except for the day of the election it had Republican bias.