This article examines the commercialization of post-September 11 terrorism studies through a critical evaluation of Rohan Gunaratna’s career, framing it as a primary case study of “information speculation” and epistemic opportunism. It maps how Gunaratna systematically pivoted his threat assessments—ranging from hyper-inflated global Al-Qaeda networks for Western defense establishments to regional “octopus-like” Jemaah Islamiyah cells…