Pentagon pulls the plug on PAM program
- By Dawn S. Onley
- Jul 31, 2003
The Pentagon late last week squashed a controversial terrorism-betting plan, promoted online by the Defense Advanced Research Projects Agency, before the effort became reality.
Defense Department brass killed DARPA's Policy Analysis Market initiative after several congressional leaders denounced the program. The market was to begin registering traders last Friday.
DARPA, working with Net Exchange of San Diego, envisioned PAM as an online futures market where traders would buy and sell contracts on predicted events. The idea was that investment trends would provide indications of the likelihood of the events occurring.
Senate Democratic Leader Thomas Daschle (D-S.D.) called PAM 'an incentive actually to commit acts of terrorism.'