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Schiff, Klobuchar Warn CFTC: Betting Apps Could Fuel Arson

8/12/2026

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Summary

Story summary

On Aug. 3, Sen. Adam Schiff (D-Calif.) and Sen. Amy Klobuchar (D-Minn.) warned the Commodity Futures Trading Commission (CFTC) that betting apps could spur arson.
They cited Kalshi and Polymarket and the Jan 2025 Los Angeles County fires that killed 31 people and destroyed 16,000 structures.
State fire officials said betting on fire size raises arson risk for profit.
Aaron Farinacci was arrested near Spokane for starting the Old Trails Fire.

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Story summary

On Aug. 3, Sen. Adam Schiff (D-Calif.) and Sen. Amy Klobuchar (D-Minn.) warned the Commodity Futures Trading Commission (CFTC) that betting apps could spur arson.
They cited Kalshi and Polymarket and the Jan 2025 Los Angeles County fires that killed 31 people and destroyed 16,000 structures.
State fire officials said betting on fire size raises arson risk for profit.
Aaron Farinacci was arrested near Spokane for starting the Old Trails Fire.