The White House will announce President Obama's nominee to the U.S. Supreme Court at 10:15 am.
The Intrade political futures markets predict Obama will pick Elena Kagan, followed by Diane Wood, Sonia Sotomayor and Jennifer Granholm.
Update: As soon as word leaked that it was Sotomayor, the futures swung wildly in her direction. Obviously, the predictive power of these markets is relatively poor for a Supreme Court pick.