Anyone know anything about this venture being run by U of Iowa? Didnt have time to go through their whole web site, but basically it looks like a way to gamble without paying the vig, except you are gambling on politics and economics. Yeah that sounds like the stock market, but is this basically the same thing? If not, how is this legal? It seems like you are just betting another person on whether or not certain economic or political factors will or will not happen. Is this just a legal off-shoot of the bigtime stock markets? I am also curious as to why they will only let you buy "contracts" from $5 - $500 and not more? I am totally unfamiliar with these kinds of ventures, so I was curious of anyone knew anything about it.
