POLITICSARS TECHNICA
Senators demand crackdown on wildfire "prediction markets"
US senators from Oregon, California, Nevada, Minnesota, and New Hampshire wrote to the Commodity Futures Trading Commission (CFTC) to inquire about actions against prediction markets allowing bets on wildfires. The letter criticizes platforms like Polymarket and an unnamed site offering simulated bets on California wildfires, arguing such markets prioritize profit over community suffering.
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Adjacent reporting
- Senators consider taking legislative action on prediction markets
- US senators push to end CFTC ‘assault’ on state oversight of prediction markets
- People are making wildfire bets on prediction markets. Experts say it could lead to disaster
- Prediction Markets Let You Bet on Whether a Wildfire Will Burn Down Your Town