Yes. No surprise there.

It's not evil or secret though

Through legally obtained aggregate data, you can be pretty sure that some evil is going on in the observed population. Then you can use the same sort of data to also profit off of that evil activity. It's an "evil fund" in the same way that you can have a gold industry ETF. The ETF itself doesn't buy, sell, produce, or own gold. However, such a gold industry ETF can still piggyback off of its profits. More precisely, it would be a "surreptitious legislative evil" fund.

event-driven funds, which are slightly more sophisticated and a few miles ahead of what Tom Clancy could come up with.

I'm not an investment guru. This is just what I could come up with off the top of my head.