Mitt Romney is running away with the race for the Republican party presidential nomination according to the Intrade market.
Romney is currently trading at 56.0%, well ahead of nearest rival Rick Perry who is given a 20.0% probability of winning the nomination. Herman Cain languishes further back on 6.9%, while Michele Bachmann has all but vanished from the market - the Minnesota Congresswomen has dropped to just 1.5% after peaking at 18.5% in early July.
Romney's position as the almost permanent market leader was rocked back in August when Perry joined the race. At one point that month Romney fell over 10 percentage points behind Perry. But things have gone south for the Texas Governor since then. Perry's performances in the Republican debates have been unconvincing, as opposed to the polished showings by Romney, and he has been hammered by his rivals for some of the more controversial statements contained in his recent book.
The former Governor of Massachusetts may not be everyone's favourite in the Republican party, but with Chris Christie opting out of the race yesterday the nomination now appears to be Romney's to lose.
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