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Senators Demand Regulation of Wildfire Betting | Portland News
Description
Eight senators, including Jeff Merkley, are demanding federal regulation of prediction markets betting on wildfires, citing ethical concerns and the risk of arson incentives as Oregon faces a historic fire season. They’ve urged the CFTC to ban such bets, citing platforms like Polymarket that saw $1.2 million wagered on deadly California fires. Governor Tina Kotek backs the push, calling it indefensible and dangerous. The senators warn these markets commodify suffering and threaten public trust, especially as speculation expands into war and emergencies.
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