Reps. George Whitesides (D-CA), James Gallagher (R-CA), Andrea Salinas (D-OR) and Vince Fong (R-CA) introduced the bipartisan No Bets on Wildfires Act. It would bar registered entities from listing for trade or accepting for clearing any contract, agreement, swap or transaction that involves a wildfire, however the fire was caused.
The sponsors say more than $1 million in fire-related bets were placed on Polymarket during the Los Angeles wildfires in early 2025. Users wagered on how many acres would burn, which cities would be hit and when the fires would be contained. The lawmakers also raised concern that such betting could create a monetary incentive to start or influence wildfires.
Whitesides said no one on any prediction market or betting platform should be allowed to gamble on wildfires. Gallagher pointed to Northern California communities, including Paradise after the 2018 Camp Fire, and Salinas said Oregon just had its worst wildfire season on record. Fong said the bill closes a gap in federal law.
Why it matters
The bill is a proposal and has not become law. It addresses financial activity tied to disasters that destroy homes and communities in wildfire-prone states.
Source: Rep. George Whitesides (D-CA), October 30, 2026. Read the original release
