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Los Angeles Scoop · Aug 18, 2026

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People Profited By Betting On Devastating Palisades Fire As thousands of Los Angeles residents fled the devastating Palisades and Eaton fires in January 2025, people online were putting money on how bad the destruction would get. Prediction markets allowed users to wager on questions including how many acres would burn and when the fires would be contained. More than $1.2 million in bets were reportedly placed during the Palisades and Eaton fires. The practice is now facing major backlash. California Senators Alex Padilla and Adam Schiff are among lawmakers calling for a crackdown, warning that allowing people to financially profit from wildfires could even create a dangerous incentive for someone to intentionally start or worsen a fire.

*People Profited By Betting On Devastating Palisades Fire* As thousands of Los Angeles residents fled the devastating Palisades and Eaton fires in January 2025, people online were putting money on how bad the destruction would get. Prediction markets allowed users to wager on questions including how many acres would burn and when the fires would be contained. More than $1.2 million in bets were reportedly placed during the Palisades and Eaton fires. The practice is now facing major backlash. California Senators Alex Padilla and Adam Schiff are among lawmakers calling for a crackdown, warning that allowing people to financially profit from wildfires could even create a dangerous incentive for someone to intentionally start or worsen a fire.

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