NY Primary Price Movement - Market beats Politico?
Late yesterday evening a Federal SDNY Judge ruled that the NY Primary should go ahead. The primary’s cancellation over a week ago caused roiling in the markets as Joe Biden shares had fallen to sub dime levels, where they were still trading up until yesterday evening.
As a great demonstration of the value of prediction markets for surfacing and sense making of news, PredictIt beat Politico coverage handily.
The actual ruling was posted here (note: without a timestamp). Politico coverage of the event is dated at 8:10pm Eastern, was a full hour slower than PredictIt’s reaction and after the market had largely settled.
Meanwhile, traders had a full 8 minutes to profit on the move… if they were paying attention.
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