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Congress Targets Wildfire Betting | Spokane News
Congressman Michael Baumgartner has introduced a bill to ban betting on wildfires, arguing that prediction markets profiting from community tragedies are ethically wrong and could even incentivize arson. As platforms like Polymarket and Kalshi grow in popularity for trading on future events—including disasters—critics warn these markets commodify suffering. Supported by Democratic senators, the proposed Wildfire Event Contract Prohibition Act would block such bets, even on foreign sites involving U.S. citizens, as regulators weigh new rules to protect public interest. Listen in comfort:Get a…
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