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Story summary
- Jeff Merkley (D-OR) and Ron Wyden (D-OR) led a letter to CFTC Chair Michael Selig to ban wildfire betting contracts.
- The letter warned bets could spur arson and profit, citing $1.2 million wagered on 2025 Palisades and Eaton fires.
- The fires killed 31 people and destroyed 16,000 structures.
- The letter asked the CFTC to detail prohibited bet types and to reply by August 14, which Governor Tina Kotek called indefensible.
