Betting markets in everything: hurricane damage futures

…if you think the damage from this year’s hurricane season, as calculated by the Insurance Services Office, will top $10 billion, you can, as of close of business Friday, buy a contract on HedgeStreet for $32.80. If damage tops $10 billion, you get $100 back. If it doesn’t, you get nothing.

Here is the article, via Chris F. Masse.