Pentagon preparations to launch an online futures trading project, the Policy Analysis Market (PAM), were revealed yesterday by a number of media sources. The project would allow anonymous users to speculate and profit on terrorist attacks, assassinations, and coups. After an immediate outcry by a number of individuals, including Sens. Dorgan (D-ND) and Wyden (D-OR), the Pentagon shut down the website hosting the trading project. OMB Watch objects most strenuously to this project as an immoral and inappropriate use of government resources. In a letters sent today to Senate Majority Leader Bill Frist, Senate Minority Leader Thomas Daschle, as several key Senate Committees, and the Department of Defense (DoD) Inspector General’s Office, OMB Watch expressed its disdain at the idea of such a project. The fact that the project came far along without Congressional oversight and public awareness is alarming. The letters called for an immediate and permanent cancellation of the PAM project and encouraged both Congress and the DoD Inspector General to launch investigations into the project’s development. Additionally, the investigations should explore other terrorist related projects being conducted by the Pentagon to bring to light any similarly excessive projects that have not been adequately monitored. Read the full letter to Senate Members and the full letter to the Inspector General of the Department of Defense for OMB Watch’s specific questions and concerns.