Yet, it doesn’t make it any less delicious to see it come to fruition.
Not one bit, in fact.
With that in mind, Intrade Prediction Markets announced Tuesday (h/t TVNewser):
The following specific rules apply to the Katie Couric market
The contract will expire at 100 if (including but not limited to)
There is an official CBS announcement reporting the resignation, retirement or departure of the named individual from CBS Evening News by the time / date specified in the contract or if the individual has factually departed the position noted above.The contract will expire at 0 if (including but not limited to)
There is no announcement or no such factual departure by the individual by the time stated in the contract specification i.e. on or before 11:59.59 pm ET on the date specified within the relevant contract.
As of 3:46PM EST Saturday, the contract (available here) has traded 16 lots, with a last price of 35.
In plain English, this means that traders are currently setting a 35 percent likelihood that a formal announcement about Couric’s departure will be made before January 1, 2008.
Stay tuned.
