Latest / Oakland News Today | 2 Min News | The Daily News Now!
Senators Demand Wildfire Betting Bans | Oakland News
Nine U.S. senators, including California’s Alex Padilla and Adam Schiff, are demanding online trading platforms shut down betting markets on wildfires—where users wager millions on when fires start, how fast they spread, and their outcomes. With over $1.2 million already bet on LA wildfires last year alone, lawmakers warn this isn’t just gambling—it’s profiting from human suffering and potentially incentivizing dangerous behavior. They’ve issued a firm letter to the CFTC, urging immediate regulation to prevent exploitation during increasingly destructive wildfire seasons, especially as new…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.