srael Might Have Many More Spies Here, Officials Say

An internal investigation by the popular online market Intrade has revealed that an investor’s purchases prompted “unusual” price swings that boosted the prediction that Sen. John McCain will become president. Over the past several weeks, the investor has pushed hundreds of thousands of dollars into one of Intrade’s predictive markets for the presidential election, the company said. “The trading that caused the unusual price movements and discrepancies was principally due to a single ‘institutional’ member on Intrade,” said the company’s chief executive, John Delaney, in a statement released Thursday. “We have been in contact with the firm on a number of occasions. I have spoken to those involved personally.” After the internal investigation into the trading patterns, Intrade found no wrongdoing or violation of its exchange rules, according to the company. Citing privacy policies, Delaney would not disclose the investor’s identity or whether the investor was affiliated with any political campaign. According to Delaney the investor was using “increased depth” in the Intrade market “to manage certain risks.” The action boosted the McCain prediction over its previous market value and above the levels of competing predictive-market Web sites. Pundits and politicians have used Intrade to track the fortunes of the two presidential candidates. Through the site, begun in 1999 and incorporated in Ireland, traders buy and sell “contracts” that function as stocks, allowing investors to gamble on the outcome of political, cultural, or even geological events such as the weather. The company asserts and experts have found that the Intrade market is generally more accurate in predicting the outcome of major events than other leading indicators, including public opinion polls. But the relatively small scale of the market and its lack of outsid

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Obama also would follow up on a campaign pledge to fortify the federal superfund program, by reinstating a tax on polluters the administration estimates will raise $17.2 billion over a decade. Congressional Republicans allowed the superfund tax to expire in 1995. The government now finances cleanups with general tax revenues or by dunning polluters, assuming they are found liable and are capable of paying some portion of the bill.

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