Tradesportshas a futures market based on whether or not Bush will win each of the 50 states plus DC in November. At the moment, Tradesports traders have picked Bush to win 278-260, largely along the same 2000 red and blue states (exceptions: NM to Bush, WV not)
Here's the table for Bush states, Dem states, and states that are tossups or leaning in one way or the other.
Bush Lean Bush TossUp Lean Dem Dem
(200) (78) (53) (63) (144)
AL AR MI DE CA
AK FL PA IL CT
AZ MO WV IA DC
CO NV WI ME HI
GA NH MN MD
ID NM OR MA
IN OH WA NJ
KS NY
KY RI
LA VT
MS
MT
NE
NC
ND
OK
SC
SD
TN
TX
UT
VA
WY
If Bush wins a state, the share is valued at 100; if Bush loses a state, the share is valued at 0. A Bush state is one in which Bush is trading at >75; a Dem state is one in which Bush is trading at <25. A tossup is where Bush is trading between 45 and 55. You can figure out the rest.