Lawmakers Demand Crackdown On Wildfire Prediction Betting Over Arson Concerns

Lawmakers Demand Crackdown On Wildfire Prediction Betting Over Arson Concerns  HuffPost

Experts say growing trend on sites such as Polymarket and Kalshi could motivate people to start fires to win money A group of US lawmakers is sounding the alarm over prediction market platforms that allow users to bet on wildfires, as experts warn the emerging trend could raise the risk of arson. Democratic senators fr

Democratic lawmakers are sounding the alarm over betting on natural disasters, arguing that it both increases the risk of criminal activity and is morally wrong

But its primary rival, Polymarket, has taken a different approach. A spokesperson for Polymarket told Ars in an emailed statement that the company does not “profit from outcomes,” adding that people “come to Polymarket for information.” “While we are not blind to the risks, removing these markets does not prevent a tra