Senators urge halt to wildfire betting markets after $1.2M in bets placed during 2025 SoCal fires

California Senators Alex Padilla and Adam Schiff, along with seven other U.S. senators, are calling for online platforms to halt offering betting markets tied to wildfires. They argue that this practice profits from disaster and could create harmful incentives, following an instance where $1.2M in bets were placed during 2025 SoCal fires.