Nine Democratic U.S. senators have urged the Commodity Futures Trading Commission (CFTC) to ban prediction market contracts related to wildfire occurrences. According to Decrypt, senators including Jeff Merkley sent a letter to CFTC Chairman Michael S. Selig, warning that "wildfire prediction market contracts could incentivize arson, enable insider trading, and threaten public safety." They argued that the CFTC should regulate wildfire-related betting before next year's wildfire season begins.
