Policy
Senators Demand Wildfire Betting Regulation After $1.2M in Fire Wagers
The Cryptonomist·August 7, 2026·1 min read
Nine Democratic senators demand federal regulators close a loophole allowing bets on active wildfires, citing $1.2 million in wagers. Prediction markets Polymarket and Kalshi face scrutiny over natural disaster contracts. Fire experts warn that betting on fires could incentivize arson or undermine emergency response efforts, prompting calls for immediate regulatory action.
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