Now that we have...

...a Democratic nominee for president and at least three official Republican hopefuls, with at least two more -- Jeb Bush and Scott Walker -- waiting to take the plunge, let's check in with PredictWise and Paddy Power to see just what the smart money is saying.

And what jumps out at me is how Ted Cruz is losing ground.

On PredictWise, the junior senator from Texas is now given only a 4.8 percent chance of winning the GOP nomination, in sixth place behind Mike Huckabee, at 7.5 percent. I thought this guy was raising oodles of cash?

Over at Paddy Power, Cruz's odds have fallen to 14/1, tied for seventh with Paul Ryan -- who isn't even running -- and behind Ben Carson, at 12/1, the neurosurgeon who has never been elected to anything.

What's going on here? What am I missing?