Congress kills terrorism 'casino' concept

| 9/26/2003

Congress this week denied funding for and shut down a Pentagon office that sought to establish a market in terrorism futures, The New York Times reported.

The office was about to open an Internet trading market to test the theory that traders could help predict the probability of events like terror attacks, missile strikes and assassinations of foreign leaders.

Outraged lawmakers called for the program to cease, and it was closed within a day. The furor surrounding the idea gave momentum to the effort in Congress to cut off money for the office entirely.

The office was headed by Adm. John M. Poindexter, who resigned last month, though he defended the initiatives under his control and said the plan for a terror futures market had been sensationalized.