Prediction market betting may influence arson as several states see unprecedented wildfires, Senators warn
- A group of Democratic US senators has warned that betting on wildfires may increase the risk of arson as several states fight unprecedented blazes.
- The boom of prediction markets, where people can bet on the outcome of future events, and the prevalence of wildfires are raising concerns about whether betting on natural disasters could drive criminal activity.
- “Offering bets on destructive wildfires threatens to minimize communities’ suffering all so the rich and powerful can profit,” the nine senators said in a letter sent to Michael Selig, chairman of the Commodity Futures Trading Commission,
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- A group of Democratic US senators has warned that betting on wildfires may increase the risk of arson as several states fight unprecedented blazes.
- The boom of prediction markets, where people can bet on the outcome of future events, and the prevalence of wildfires are raising concerns about whether betting on natural disasters could drive criminal activity.
- “Offering bets on destructive wildfires threatens to minimize communities’ suffering all so the rich and powerful can profit,” the nine senators said in a letter sent to Michael Selig, chairman of the Commodity Futures Trading Commission,
Sources: The Independent