Sen. Barack Obama and former Arkansas Gov. Mike Huckabee have won the Iowa caucuses last night, with Obama garnering 37.6 percent of Democratic delegate support and Huckabee coming away with 34.4 percent of the Republican delegate support (after 86 percent of precincts had reported).

The New York Times reports that two Democrats dropped out last night: Sen. Christopher Dodd of New Jersey and Sen. Joseph Biden of Delaware.

The number of Democrats participating in the caucuses jumped to almost 240,000, which almost doubles the number ...