Just yesterday, the political prediction markets gave Mitt Romney an 85 percent chance of winning Saturday’s primary in South Carolina. With this morning’s news that Rick Perry is dropping out and endorsing Newt Gingrich, Gingrich appears to be consolidating the anyone-but-Romney vote. (This in spite of the fact that Santorum is now the officially winner in Iowa by 34 votes as of today, and has the backing of evangelical Christian leaders.)

At present writing, South Carolina’s primary is now a dogfight between Romney at about 60 percent and Gingrich at 40 percent, according to prediction market data.

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