Nine U.S. senators urge CFTC to ban wildfire prediction market contracts

Nine Democratic U.S. senators urged the Commodity Futures Trading Commission to ban prediction market contracts tied to whether wildfires occur, Decrypt reported. In a letter to CFTC Chairman Michael Selig, the senators, including Jeff Merkley, warned "산불 관련 예측시장 계약" could encourage arson, enable insider trading and threaten public safety. They argued the CFTC should regulate wildfire-related betting before next year’s wildfire season begins.