2012 Presidential Election
Yes, it is true. You can already place bets on the 2012 Presidential Election (actually, you could have bet on this months ago). Look at it as a positive indicator that Americans are becoming more engaged in the election process. There are a variety of lines on offer - the Democratic and Republican Nominees, who will be elected and which party will be elected. Anyone who identifies with one of the two major political parties can benefit from the party to be elected bet. If you vote Republican and bet Democrat you will win (in some way) if either party takes the White House. Rinse and repeat for Democrats.
Right now at Sportsbook a $100 bet will win a $60 profit if Democrats win and a $120 profit if Rebuplicans win.