Traders who dabble in the political prediction markets (yes, there is such an animal) are betting that it'll be Obama and Huckabee winning tonight in Iowa. Obama was pegged as having a 46.2 percent chance, compared with 32.9 percent for Clinton and 21 percent for Edwards. Huckabee was trouncing Romney. Here's a Reuters piece that explains how this works:
Traders on the Dublin-based Intrade prediction market can buy and sell contracts based on which party they expect to win the U.S. election and which candidates they expect to win or lose the various state nominating contests. Contracts are structured so that prices can be read as the percentage likelihood of the candidate winning the race. So traders buying and selling Huckabee contracts at 70 believe he has a 70 percent chance of winning.
Again for what it's worth, traders are forecasting a Democratic victory in November.