Wednesday, December 17, 2003

So who was the insider who cashed in on knowledge of Saddam's capture before it happened? 

Remember the hullaballo about the Pentagon program to place bets on terrorist events? Turns out that's already privatized, and administration insiders are making money on it!

The odds on U.S. President George W. Bush being re-elected next year posted their biggest daily gain on Monday after the weekend capture of Saddam Hussein, according to an Irish-based online betting exchange.

Tradesports.com said "futures" contracts on Bush's chances of staying in power for a second term rallied more than 7 percent to 70.7 percent.

The Web site gained notoriety during the U.S.-led war that toppled Saddam as Iraqi president by offering online gamblers the opportunity to place wagers on how long the conflict would last and whether weapons of mass destruction would be found.

Punters were also able to bet on when Saddam would be captured.

"Interestingly, this contract was bid up yesterday before any public announcement was made", said Tradesports.com Chief Executive John Delaney.

I'll say it's interesting! Not to our SCLM though!

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