WASHINGTON, Aug. 3 -- Sen. Adam Schiff issued the following press release:
Today, U.S. Senators Adam Schiff and Alex Padilla (both D-Calif.) joined Jeff Merkley (D-Ore.), Jeanne Shaheen (D-N.H.), Jacky Rosen (D-Nev.), Catherine Cortez Masto (D-Nev.), Martin Heinrich (D-N.M.), and Ron Wyden (D-Ore.) to press the Commodity Futures Trading Commission (CFTC) on its plans to crack down on prediction markets now offering event contracts for individuals to bet on wildfires.
In light of recent wildfires in California and ongoing ones across the nation, the Senators are demanding action from the CFTC following public reporting that highlighted the public safety and insider trading concerns of allowing prediction market platforms (https://www.hcn....