Pour boiling water over cereal in a medium bowl; let stand 5 minutes. Stir in buttermilk, corn syrup, oil, sugar and egg.
Combine flour, baking powder, baking soda, salt and cinnamon in a large bowl. Stir in buttermilk mixture just until moistened. Stir in raisins. Divide batter evenly into 12 greased (2-1/2 inch) muffin cups.
Bake 17 to 22 minutes or until tops spring back when touched. Cool 5 minutes; remove from pan.