Monday, November 17, 2003

NEW YORK (CNN/Money) - A U.S. government plan to create a market allowing traders to bet on the likelihood of terror attacks and other events in the Middle East has been revived by the private firm that helped develop it.

The market, called the Policy Analysis Market (PAM), will allow traders to buy and sell contracts on political and economic events in the Middle East, including assassinations, the overthrow of regimes and terrorist attacks. The market is scheduled to start trading next spring.

It originally was developed and funded with the assistance of the Defense Department, where officials cited the uncanny ability of other futures markets to predict election results, weather patterns and other complex events.

Heated public criticism forced the Pentagon to end its association with the project, but its Web site, which was idle for several months, now has an announcement saying it will be open for business in March 2004.

Nothing really to say. Nice to see that the military-industrial complex has managed to make the world into just one more video game.

Still waiting for GTA IV, myself.

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