There is a thing called Intrade. It allows people to bet on outcomes of things outside of sports like presidential elections and the Oscars.
Intrade is an online trading exchange website. The website's members speculate on the outcomes of non-sports-related future events. Intrade was founded by John Delaney in 2001[1] and acquired by Tradesports in 2003.[2] Dublin-based owner Trade Exchange Network Limited also operated TradeBetX.com, which focused on European interests. As of January 1, 2007, Trade Exchange Network divested its interests in Tradesports and TradeBetX.com to a newly formed company, TradeSports Ltd. These two websites offered only sports-related trading markets until they were closed in 2008, while Intrade.com offers only non-sports markets (politics, finance, entertainment, current events, transportation, legal, weather, pop culture, etc.).
http://en.wikipedia.org/...
Currently, Newt Gingrich's chances to win the 2012 Florida Primary is at 57.8% while Mitt Romney's is at 43.3%. Mitt's chances to win the Republican nomination is still at 66.4% but President Obama's chances of winning re-election is now at 55.8%.
http://www.intrade.com/...
I like our chances.