We like to follow the various contracts traded on Intrade for a number of reasons, including how well "prediction markets" actually predict. Some of the more popular contracts on the betting website are the ones allowing traders to pick who will win American Idol, which ended last night. Below we highlight the contract prices since the show began for the two finalists on last night's show. Up until the final night of performances, the Adam Lambert contract trended higher and ultimately rested at around 75 (75% chance to win). Leading up to the results show last night, the Lambert contract traded down but stayed above 50%. As shown in the chart, the "crowd" definitely guessed wrong leading up to the finale, as the underdog Kris Allen actually won with the most votes.
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