Mashable has an interesting look at Drug Lords, a variant of the various Drug Wars games that have been around for a long time.
In the Drug Wars genre (which goes back to a 1984 DOS game), you play a drug dealer who visits various locales and buys and sells drugs, trying to load up on cheap drugs in cities with low demand and then turn around and sell them in cities with high demand. Additionally, you need to buy weapons, pay bribes to police, etc.
Drug Lords for the iPhone takes that concept and turns it up a notch by having the player competing against other players in the area — something they’re calling a Location Based Massively Multiplayer Online Game.
Sounds like fun (well, at least until Apple decides to deep-six it from the Apple Store after the inevitable bad publicity.)