“You can’t predict fire. But you can trade on it." California senators Alex Padilla and Adam Schiff want financial regulators to restrict people from using prediction markets to bet on how wildfires w

“You can’t predict fire. But you can trade on it." California senators Alex Padilla and Adam Schiff want financial regulators to restrict people from using prediction markets to bet on how wildfires will spread, citing concerns that bettors could resort to arson to secure outcomes. https:// timesofsandiego.com/politics/2 026/08/16/prediction-market-senators-wildfires-arson/