Senators Demand Crackdown on Wildfire Betting | Bakersfield News

Nine senators are sounding the alarm over prediction markets that reportedly raked in $1.2 million betting on the 2025 California wildfires, calling for urgent federal crackdowns as lawmakers fear these platforms commodify suffering and could even incentivize disasters for profit. While proponents tout their predictive power, critics decry ethical breaches and potential insider trading — especially around tragedies like elections or military events. Platforms like Polymarket deny involvement in the disputed markets, but regulators like the CFTC are already eyeing bans on death- and violence-related wagers. With states already suing and the debate raging over whether these are investments or gambling, the push is on to draw ethical lines before it’s too late. 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/d2a11ac81239f394