Joe Biden Bets Surging: Frenzied Trading in Vice-Presidential Markets

Amid rumors that an official announcement is imminent, Joe Biden has overtaken Evan Bayh as the most likely running mate to Barack Obama. In a day of frenzied trading on the Intrade political prediction market, Biden's V.P. chances gained another 18.9 points to a close of 49.8. Biden is up nearly 300% over the past week. Bayh, at 12.1, is off 63%.

Other leading candidates Tim Kaine (13.0), Katherine Sebelius (13.0), Hillary Clinton (8.1), and Wesley Clark (8.0) contributed to the heaviest trading day of the year in the vice-presidential markets on Tuesday.

The Republican V.P. market pushed Tim Pawlenty up 27% where he is tied at 30.0 with Mitt Romney, who dropped 15%. Tom Ridge was unchaged at 20.0, while Charlie Crist was up 38% for the week to 15.0