Democratic lawmakers say wildfire event contracts on prediction markets create risks of arson, insider trading, and disaster profiteering.

Democratic senators led by Jeff Merkley urge the CFTC to restrict wildfire prediction market contracts, citing arson risks after $1.2M was

9 senators are asking the CFTC to prohibit contracts tied to wildfire duration, growth and destruction, as fire officials see a risk of arson.

Fire experts warn such markets could incentivize arson.