Is Intrade suspect?

Maybe so:

Right now, Obama is trading at 52.3 points. That is, Intrade implies that he has a 52.3 percent chance to become the next President....

Over at BetFair, another large UK-based gambling and futures site, you can also buy an Obama contract. But the price there is 1.62, which implies a 61.7 percent chance that Obama will become the next President....

It does seem to be Intrade specifically that's out of line, rather than Betfair. At Iowa Electronic Markets, yet another political futures exchange, the probability of the Democrats winning the popular vote is about 61 percent. They don't have an electoral vote contract, but if they did, presumably that number would be a little higher because of the structural advantages Obama has in the electoral college this year.