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Douglas_Knight comments on Open Thread, Feb 8 - Feb 15, 2016 - Less Wrong Discussion
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The bet is available on PredictIT. The numbers don't always add to $1 (actually $2 on this market because of the independent) because of bid/ask spreads and because PredictIt's fees make it unprofitable to always push the market to this point.
The answer is not bid-ask spreads, as I said in my comment. The answer is probably substantial hidden fees. But your original post quoted 38% ignoring the fees. If you don't know the details of the bets, it's not surprising that you think that they are good opportunities.
The fee (I think) is you have to pay 10% of any profits you earn if you buy and then sell a contract. The bid-ask spreads change a lot.