Information Markets & Gambling
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Timing:
1995: WTO agreement lets countries ban trade where it has national laws designed to “protect public morals”, which would seem to cover gambling, at least from an American perspective.
2003: An American government body, the Defense Advanced Research Projects Agency, tried to create an exchange to trade contracts on the likelihood of a terrorist attack.
2003: Market trading in contracts which paid off in Saddam Hussein was removed as leader of Iraq.
Nov. 10, 2004: WTO decision that old American laws prohibiting gambling over wires that cross state lines violate global trade rules for the services sector.
Web Resources:
House of Cards: The WTO and Online Gambling from the Economist http://www.economist.com/research/articlesBySubject/displayStory.cfm?story_id=3411641&subjectID=682268&emailauth=%2527%252FUOH%255F%253CC0SP%255C%2520%250A
Guessing Games from the Economist http://www.economist.com/research/articlesBySubject/displayStory.cfm?story_id=3400241&subjectID=348918&emailauth=%2527%2528%2540%252E7%2525%255C%255C%253B3%2540%255C%2520%250A
Using Markets to Inform Policy: The Case of the Iraq War from Stanford University http://faculty-gsb.stanford.edu/zitzewitz/Research/usingmarkets.pdf
How Information Markets Could Change the Policy World from the Brookings Institute http://www.aei-brookings.org/admin/authorpdfs/page.php?id=1019