Wildfires Fuelled by Greed: The Dark Side of Prediction Markets A spate of unprecedented wildfires sweeping across several states has brought forth a disturbing trend that threatens to exacerbate the crisis: prediction market betting.
A coalition of Democratic senators has sounded the alarm, warning that this lucrative practice may be driving individuals to commit arson and profiteer from others' misery.
The recent Palisades and Eaton fires in Southern California saw Polymarket report $1. 2 million in bets on the outcome of these devastating blazes.