There is a poetry contest with a first place prize of $5,250 being held from July 15, 2008 to September 30, 2008. There is a small entry fee. Visit the site below for more details:

http://tomhowardpoetry.bravepages.com/

Hey guys, if the contest above isn't for you, here's a different one. This one is completely free to enter, there are daily winners, and one winner of 100,000 dollars! Oh yeah. I believe it's an ongoing thing. Here's the site if you're interested.

http://poetry.com/contest/poetry-contest.asp?Suite=A94401&gclid=CN2mxaOEuJQCFSD8iAodaUAxTw