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Story summary
- Nine U.S. senators, including Alex Padilla and Adam Schiff, urged the Commodity Futures Trading Commission to curb wildfire betting after Polymarket collected $1.2 million on January 2025 fire contracts.
- Three California Native American tribes sued Kalshi and Robinhood last year, alleging illegal gambling on tribal land.
- UC Irvine associate professor Michael Méndez called wildfire betting morally reprehensible and warned it could spur arson.
