Senators Demand Bet Shutdown on Wildfires | Austin News

Nine Democratic senators are demanding the CFTC shut down online betting on wildfires, warning that such markets could incentivize arson and exploit communities suffering from devastating fires. As flames rage across California and Washington, and amid recent high-stakes bets in Los Angeles, lawmakers argue these prediction markets trivialize human suffering and pose serious public safety risks. While platforms like Polymarket claim to avoid U.S. customers, the issue remains contentious — with the CFTC facing pressure to act by August 14th, balancing free-market principles against potential harm during crises. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/8bd68eb48a113d62