California lawmakers call for crackdown on wildfire betting

With recent wildfires causing widespread destruction in Southern California, how would you feel about someone profiting off of the devastating loss of your home or community? It turns out, people are placing bets on wildfires on prediction markets like Polymarket, and now California lawmakers are calling for a crackdown on the concerning new trend, warning those bets could create an incentive for arson. ... They’re urging the Commodity Futures Trading Commission to implement what they call “common sense guardrails” to prevent people from profiting off of the suffering and devastation on digital gambling sites. “It’s important to point out that...