News release
Rep. George Whitesides, D-Agua Dulce, and three other members of Congress have introduced the No Bets on Wildfires Act, a bill that would make it illegal to place bets related to wildfires on prediction markets.
Whitesides, who represents most of the Santa Clarita Valley, is joined in authoring the legislation by James Gallagher, R-CA, Andrea Salinas, D-OR, and Vince Fong, R-CA.
Over $1 million fire-related bets were wagered on Polymarket during the devastating wildfires that swept through Los Angeles in early 2025, according to a news release from Whitesides’ office.
Users on the platform bet on specific questions, such as how many acres the fires would burn, what cities would be hit, and when firefighters would be able to contain the blaze. Not only did these fires lead to the loss of lives and livelihoods, but there is real concern that by allowing prediction market users to bet on wildfires, there will be a monetary incentive to start or influence wildfires in the future, the release said.
“It is abhorrent that anyone would attempt to profit off of the damage caused by wildfires, particularly after the devastation and suffering that Los Angeles County experienced last year,” Whitesides said in the release. “My bill is simple – no one, on any prediction market or betting platform, should be allowed to gamble on any issue relating to wildfires. This common-sense bill will stop anyone who would try to enrich themselves off people losing their lives, families seeing their homes burned to the ground, and firefighters putting themselves in harm’s way.”
“In Northern California, we know all too well the devastation wildfires can bring,” Gallagher said in the release. “Families have lost their homes, entire communities have been destroyed, and lives have been turned upside down. The idea that someone could turn around and profit by betting on the next wildfire is absolutely outrageous. These disasters are not a game, and nobody should be gambling on the suffering of our communities. I’m proud to join Congressman Whitesides in this bipartisan effort to put a stop to it.”
The No Bets on Wildfires Act would ban all registered entities from listing for trade or accepting for clearing any contract, agreement, swap or transaction that involves a wildfire caused by any means.
