Almost the moment Pope Benedict–now Pope Emeritus Benedict–announced his decision to retire, betting sites and prediction markets started to appear on the internet, offering people a chance to place money on the identity of his successor. There’s Paddy Power in Ireland and, for people of a more academic bent, the Intrade prediction market, which has been pretty accurate with respect to American politics.
Some readers may be wondering what Catholic canon law has to say about placing money on the outcome of a papal election. Apparently, nothing. According to this canon law blog, an earlier prohibition was abrogated in 1918, when the Catholic Church adopted the Pio-Benedictine Code. At the moment, therefore, there is no canon law on the question. So, I guess, nihil obstat. Nonetheless, as the author points out, the Catholic catechism does have advice about gambling, which Catholics should consider. Non-Catholics too, probably. And there’s the Second Commandment.