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The Piney Point

Senators urge halt to wildfire betting markets after $1.2M in bets placed during 2025 SoCal fires

Senators urge halt to wildfire betting markets after $1.2M in bets placed during 2025 SoCal fires
Photo: ABC13 Houston (KTRK) · view original

California Senators Alex Padilla and Adam Schiff, along with seven other U.S. senators, are calling on online trading platforms to stop offering betting markets tied to wildfires, arguing that the practice profits from disaster and could create harmful incentives.

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