Gingrich contract price jumps 22,000 percent in six weeks on Iowa Electronic Markets

Newt Gingrich is now the Republican candidate most likely to finish in the top two in next year's Iowa caucus, as the price of his contract on the Iowa Electronic Markets' Iowa Caucus market has jumped more than 22,000 percent in six weeks.

Gingrich's contract was trading for 69.1 cents on the Iowa Electronic Market's Iowa Caucus market Tuesday morning, which means the market believes he has a 69.1 percent probability of finishing in the top two in January's GOP caucus. His contract had been selling for as little as .3 cents - - less than a penny - - as recently as Oct. 13.

Meanwhile, the price of Mitt Romney's contract has fallen 31 percent in the past two weeks and was trading at 60.5 cents Tuesday morning, which means the market believes he has a 60.5 percent probability of being among the top two in the caucus. Romney's contract had been selling for as high as 87.4 cents as recently as Nov. 13.

The price of Gingrich's contract jumped 13 cents between Monday morning and Tuesday morning, while Romney's contract fell by 8 cents in the same time period.

Read more at IowaCaucus.com