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It's basically the first **real** gauge of how a candidate's message(s) have played and what the voters are actually concerned enough about to get out and vote.
Polls are inaccurate for several reasons, not the least of which is that they are non-binding. The answers you give to pollsters have little effect beyond the pollster's report out. A caucus shows that there is a core group of people within the population of voters who will get out and support candidate x or y.
I'm not sure about the reason for Iowa, but many states have pushed up their caucuses so they can be a bigger player in the national election process. The question could also be "Why New Hampshire?" as they're a very small state with little real sway in the national election but they play a pretty big role in picking the candidates who will be on the ballot.
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Strive to be more curious than ignorant.
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