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Senators Demand Bet Shutdown on Wildfires | Texas News
Nine Democratic senators are demanding the CFTC shut down online betting on wildfires, warning that these prediction markets could incentivize arson and exploit disaster suffering. As fires rage across California and Washington, forcing evacuations, senators cite January 2025 bets worth over a million dollars on fire size and containment. Fire officials fear bettors might ignite fires for profit, though no direct link yet exists. Platforms like Polymarket deny serving U.S. users but admit international markets exist, arguing bans just obscure vital data. The CFTC must respond by August 14th…
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