IEM, Electronic Markets Praised

Dubbed by critics as the "terrorism futures market" and "terrorism betting parlor," a Pentagon proposal to create a futures market in which people could vote with money on the odds of such future occurrences as terror attacks and suicide bombings drifted briefly across the political radar last week before being shot down by Democrats and Republicans alike. The IOWA ELECTRONIC MARKETS, run by the University of Iowa, has been offering a futures market in presidential elections since 1988. In fact, a number of professors associated with that market, which has been more accurate than pre-election polling, were involved in early planning of the abandoned Pentagon project.