Lawmakers urge CFTC to rein in wildfire betting markets
A group of U.S. senators asks the Commodity Futures Trading Commission to crack down on prediction markets that let people bet on wildfires, warning such markets could incentivize arson and threaten public safety; Kalshi says it avoids wildfire markets, while Polymarket has faced scrutiny; experts say these markets risk monetizing disasters amid ongoing wildfires in the Pacific Northwest.