Normal view

The entire U.S. economy is basically a giant betting app

12 August 2026 at 12:30

As the western United States is gripped by record-shattering wildfires, some unscrupulous people aren’t just contemplating what it will be like for future generations living in our new normal of erratic weather patterns, or wondering whether climate change is making this situation worse. They’re thinking about how much money they can make. 

Prediction market apps like Kalshi and Polymarket allow people to bet on pretty much anything, whether it’s some boring sports thing, election results or perhaps even war crimes. You can even bet on the outcome of clinical drug trials and whether cancer drugs will be approved by the Food and Drug Administration, which experts criticize as undermining the integrity of medication research. The father of a seventh-grader living with cancer recently raised the issue of “whether researchers in a trial could be motivated by prediction market profits,” something so heinous it is difficult to contemplate.

While the makers of these apps insist they are “future exchanges,” not digital gambling parlors, regulators in places like Singapore, France, Belgium and elsewhere aren’t convinced and have banned the platforms altogether. There are several mechanisms inherent to prediction market apps that make them a little different than putting it all on red. They involve binary contracts that resolve based on whether certain events happen or not, using some complex math to factor in a probability of an outcome. Critics are increasingly looking into the consequences of making almost everything wagerable.

Mainstream economists may want you to believe all this is driven by Darwinian forces that follow some natural law, simplified as “the cost of doing business,” or even by Adam Smith’s invisible hand. But that’s pretty unscientific.

On Aug. 3, Democratic senators from six states sent a letter to the chair of the Commodity Futures Trading Commission, the independent government arm that regulates Polymarket and Kalshi, warning that the apps are allowing bets to be placed on wildfires, which could incentivize arson. They highlight previous examples of bets placed on the January 2025 Palisades and Eaton fires, which razed large areas of Los Angeles County, killing 31 people and destroying more than 16,000 structures. 

“Offering bets on destructive wildfires threatens to minimize communities’ suffering all so the rich and powerful can profit,” the letter’s authors, who include Sens. Adam Schiff, D-Calif., and Amy Klobuchar, D-Minn., wrote. “There’s also the heightened risk — according to state and local fire officials — that individuals could be tempted to commit arson in order to make sure their bets are successful.”


Start your day with essential news from Salon.
Sign up for our free morning newsletter, Crash Course.


For example, someone might bet on how big a fire might get or how many buildings it might destroy. I wanted to know what unexpected stuff I could find on the apps, so I downloaded Polymarket and Kalshi, seemingly the two most popular platforms or at least the ones I’m tired of seeing ads of the most. Both were littered with sports events, which I scrolled past, but also had sections for elections, politics, tech and a lot more. Polymarket seemed to have fewer and more bland options for betting, with the most shocking queries I could find being things like who will get kicked out of Trump admin next or if Israeli Prime Minister Benjamin Netanyahu will be arrested by year’s end.

After giving over way too much private data to Kalshi, I was able to browse entire categories dedicated to natural disasters and climate change, such as if 2026 will be the hottest year ever or if the U.S. will ever meet its climate goals. I also found weird things like how many Atlantic hurricanes this year or if California will be hit by a magnitude 8 earthquake, which goes without saying but would be extremely bad. For context, the recent Colombia and Venezuela earthquakes were both magnitude 7.4 and 7.5 respectively. All of these things are likely to kill countless people if they happen, but climate change is already widely treated like an abstract future problem, rather than our disastrous present, so maybe this shouldn’t be surprising.

Both apps allowed wagers on the number of “explosive diarrhea” cyclosporiasis and measles cases this year, with both outbreaks shattering records. I could not find anything related to fires, presumably such content being recently removed, as there have been plenty of cited examples of bets on fires in the past, such as how many acres or locations the Palisades fires would reach.

So many of the scenarios on these apps present classic examples of a perverse incentive, in which the structure of a system encourages undesirable results. The classic example is of dubious historical accuracy, but originates from the British occupation of India. Weary of venomous snake bites, British authorities put a bounty on dead cobras — but this only incentivized locals to breed more of the snakes, in order to collect even more reward money. If you allow people to earn cash from dead snakes, you risk getting a lot more living snakes in the process.

Are we already seeing this with wildfires? It’s hard to say, but it’s true that arson is, strangely, a common catalyst for wildfires. One man was arrested outside of Spokane a few days ago, admitting to starting the Old Trails Fire, which burned entire neighborhoods to a crisp. Police say that Aaron Farinacci admitted to having set two dozen other blazes since 2025.

The conditions that make these blazes so out-of-control are thanks to climate change, which is causing hotter and drier conditions. According to a 2021 study supported by the National Oceanic and Atmospheric Administration, the increase in fire weather in the western U.S. is primarily due to climate change. (Still, trying to explain that level of nuance to a climate denier is like teaching rocks to play Risk.)

What these apps do best is lay bare the ways in which our entire economy is structured like a betting app strung together by incentive perverts. It’s why the market rewards the most amoral and destructive behavior, from hedge funds that short the market and destroy company value to vulture capitalists who gut businesses like Toys “R” Us or Radio Shack, and then escape on their golden corporate parachutes. Even when such behavior results in a recession, the government is likely to bail big corporations out, while any form of assistance for the working class is branded as “socialism.” In fact, the entire stock market could be best described as a casino that incentivizes absurd growth like the historic tech bubble provoked by the spread of artificial intelligence.

Mainstream economists may want you to believe all this is driven by Darwinian forces that follow some natural law, simplified as “the cost of doing business,” or even by Adam Smith’s invisible hand. But that’s pretty unscientific.

Money itself is just a construct, one with rules dreamt up by humans. We don’t have to live in a world where people profit from tragedy, be it wildfires or a child with cancer, housing foreclosures or weapons manufacturing. I’m willing to bet we can actually achieve such a utopian outcome, even if it takes another century. The alternative is to continue draining everything of value as it goes up in smoke. 

The post The entire U.S. economy is basically a giant betting app appeared first on Salon.com.

Lesbos is burning. I’m not there

5 August 2026 at 12:30

The news came the way it always comes in my family, sideways, through a phone. I was in my living room, sunk into the chaise lounge I retreat to, comfortable in a way that now embarrasses me, when I heard my mother’s voice in the other room calling my father. Something in her tone. You learn your parents’ registers the way you learn weather, and this was the register of bad news from far away. 

Greece was burning again. Crete worst of all, in the south, where a fire near Rethymno had driven some 8,000 people from their homes in a single night. Fires on Paros and Andros, scattered across the Aegean. And then the name I had been bracing against: Lesbos. A blaze near Plomari, the old ouzo town on the island’s south coast, was eating coastal homes while roughly 100 firefighters fought it, and a seaside resort emptied into the dark. 

The fires are not a freak event, and no one in Greece pretends they are. They began in early July and have barely paused since; this is the second week of a major outbreak, dozens of fronts at once, fed by a record European heat wave, a spring of too little rain and the Meltemi, the dry seasonal winds that come screaming down the Aegean in July and August at up to 100 kilometers an hour and turn a spark into a wall. Scientists have said it plainly: Climate change is loading the dice, the Mediterranean’s pine and olive and dry scrub catch faster and burn hotter than they used to, and summers like this one are becoming the rule, not the exception. Greece has always burned in August. It has not always burned like this. 

My father is from Lesbos. My mother’s people are from there too, further back, so the island runs down both sides of me like a watermark you only see when the light hits it right. It is where my family’s houses stand, where a portion of my life is already promised, where I know I will one day go to live for a while, because the pull has never once loosened. It is, if I am honest, where I come from in the deepest sense, not only the blood but the making. My love of poetry, my hunger for art — I trace all of it back to that island, to Sappho, who sang there 26 centuries ago and somehow reached a Greek-American boy in Pennsylvania and told him what he was.

I have not set foot on Lesbos in 10 years.

That is the sentence, the amount of time, I keep circling. Now I watch it burn on a screen from a soft chair, an ocean and a lifetime away, useless. 

There is a particular helplessness to diaspora I have never quite found the words for, though I keep trying. You love a place you are not in. You grieve a fire you cannot smell.

There is a particular helplessness to diaspora I have never quite found the words for, though I keep trying. You love a place you are not in. You grieve a fire you cannot smell. You refresh a feed for news of a village whose name your relatives say with their whole mouths and you say with an accent that gives you away. The distance is not only miles. It is the knowledge that everyone there is living what you are merely watching, and that watching, from comfort, is its own small shame.

I was made by that island’s water. They tell me that as a baby, I would not leave the sea. I would stay in the Aegean until I cried at being carried out, submerging myself again and again until, the family story goes, I matched the sea, my skin gone the temperature of it, indistinguishable, a small animal that had already decided where it belonged. Even now, when I step into that water, something in me resets. The sun on it, the salt, the particular blue no postcard has ever gotten right — it reconnects me to my own being, returns me to whatever I was before the world got complicated. 

There was a year, when I was barely one, that the island nearly kept me for good: a lost passport, a wary government that took an American baby for a Greek one, and a U.S. congressman who finally untangled it and got me home. It is a longer story than this essay can hold, but its shape has never left me. The point is this: That island has been trying to keep me since before I could speak, and I have spent a decade letting the ocean between us win.

And here is the thing I cannot hold simply, what kept me on the chaise longer than the news required. That same sea that baptized me is, for thousands of others, a grave. 


Start your day with essential news from Salon.
Sign up for our free morning newsletter, Crash Course.


Lesbos is not only my father’s Eden. For more than a decade it has been a frontline, the first Greek soil that exhausted, terrified people touch when they cross from Turkey in boats that were never built for open water. My sacred water is someone else’s last water. My homeland is a stranger’s checkpoint and, if they are lucky, their refuge.

I don’t know how to make those facts, that awful juxtaposition, clean, and I have stopped trying. Both experiences are true. The island is sacred to me for what it gave me, and it is sacred to the fleeing for what it offers them, which is the oldest thing land can offer: safety, ground, a place to stop running. 

When the fires come, they do not check anyone’s passport. They take the olive groves and the goats and the summer houses, and they take the makeshift shelters and the fragile new footing of people who had already lost everything once. In Crete, the deadliest front this week, three firefighters have already died trying to hold the line against the blaze. That is what steadies me and breaks me in the same breath, that a land this rich in what it gives, in shade and figs and refuge and myth, keeps burning while the world half-watches. 

A Mediterranean summer on fire has become a genre now, a seasonal rerun we thumb past on the way to something else. This year’s footage looks like last year’s, and that of the year before, a sameness that is its own quiet violence. Repetition sands horror down into wallpaper. But it is not wallpaper to the family loading a car in the dark, or to a firefighter’s widow, or to a man in Pennsylvania watching his one island go up in flames on a screen. Familiar is not the same as bearable.

What the fire has done, strangely, is make me want to go back not to take but to give. To help. To stand on the ground instead of scrolling past it. I have spent ten years loving Lesbos as an inheritance, a thing I own from a distance, and the smoke on my screen has shamed that love into something more useful. My mother’s ancestors and my father’s boyhood and Sappho’s fragments and the sea that raised me are all still there, waiting, under a sky the color of alarm. My uncle is in Athens. My family’s houses are still standing, for now. And I am here, finally understanding that loving a place from afar is not the same as loving it.

I think I will go to Lesbos this year. Not because the fire is out, but because it isn’t. The sea is still there. It is still the color no one can name. And it is still, for me and for the strangers arriving on its shore, the difference between drowning and being born.

The post Lesbos is burning. I’m not there appeared first on Salon.com.

Spokane wildfires are a warning to the rest of the world

4 August 2026 at 01:57

If you need any proof that climate change is not some far off problem for future generations — it’s our disastrous present — look no further than the unfolding wildfire crisis gripping the globe. In Spokane County, Washington alone, three major wildfires have devastated the area, prompting the evacuation of almost 65,000 people and destroying more than 700 homes. But there are at least 14 other fires raging throughout the state. In nearby Oregon, a record-shattering 2 million acres have burned, with 102 new fires reported across the nation on Aug. 2 alone, seven of which are large. Meanwhile, across the pond, Europeans are battling their own record-breaking wildfires in the U.K., France, Greece and elsewhere, where two crew members were killed in a midair collision.

High winds and hot, dry weather have fueled the blazes, but these conditions have been worsened by climate change. Fires are a natural phenomenon, of course, but what’s unnatural is their intensity and the level of heat. Every time we burn fossil fuels, it adds more chemicals to the atmosphere that trap more heat, creating a positive feedback loop that makes everything hotter and drier.


Start your day with essential news from Salon.
Sign up for our free morning newsletter, Crash Course.


Indeed, months of drought and heat waves tend to foreshadow the fiercest wildfires. As a recent analysis found on fires in Spain, Portugal, Turkey, Cyprus and Greece, “human-caused climate change was a key driver of the fire weather conditions, primarily through its influence on exceptionally high temperatures, but also by exacerbating drought conditions.”

WATCH: Hundreds of structures destroyed after Spokane wildfire pic.twitter.com/js5p9AoZjz

— BNO News (@BNONews) August 3, 2026

The circumstances that make these wildfires so severe are becoming more and more common across the world. “Anywhere can burn under the right conditions, and unfortunately all of those conditions are changing,” Erica Smithwick, a climate scientist at Pennsylvania State University, told Scientific American recently. All of this serves as a warning. The question remains if anyone is still listening.

The post Spokane wildfires are a warning to the rest of the world appeared first on Salon.com.

Breathable air is a luxury. Paying out of pocket could be next

19 July 2026 at 12:30

Imagine this conversation with your spouse or roommate: “Dude, what is that smell? It stinks like burning diapers. Did you forget to pay the air?” Sounds like something from a knockoff episode of “Black Mirror,” right? Canned air was actually used as a bit in “Spaceballs,” with the joke being how absurd it is to pay for something we breathe freely.

While I claim no clairvoyant skills, given the ever-diminishing quality of the air we breathe, purified air could definitely become a commodity someday. Air subscription probably wouldn’t work exactly like other utilities, such as internet service or natural gas, where it gets pumped directly into your house, but then again, who is to say? The future could be as weird as the present and when it comes to air quality, things are changing fast.

At the moment, a new front in the endless culture wars concerns whether air conditioning is ethical or even necessary. That comes in the wake of yet another record-breaking heat wave that has pummeled the Northern Hemisphere. Europeans aren’t big fans of AC, it turns out, but things have gotten so hot that many people are now making the switch. It’s become a selling point for far-right figures like French presidential candidate Marine Le Pen, who has promised to blanket Europe in cool air, while British conservatives want to deregulate building codes that restrict AC.

Most forms of air conditioning are highly energy-intensive and, depending on its power source, can belch even more carbon into the atmosphere, trapping more of the sun’s heat and causing more intense heat waves. That feedback loop is likely part of the reason why temperatures previously considered extreme or impossible are now becoming the norm all over the world — but the suffering might be too great to ignore the benefits of AC.

The June heat wave carried a death toll of more than 10,000 people across 27 countries, according to data from ‌EuroMOMO, a mortality monitoring network with backing from the World Health Organization and the European Centre for Disease Prevention and Control. Over 9,000 of those deaths were people aged 65 and older. Such extreme heat usually kills people via heatstroke, or by inflaming heart and lung diseases. Whatever the specific causes of death, this was a mass casualty event, on par with the earthquakes that hit Venezuela a few weeks ago. Climate scientists universally agree that this summer’s heat waves would have been “virtually impossible” without climate change.

This summer’s Northern Hemisphere heat wave has been a mass casualty event, on a par with the recent earthquakes in Venezuela.

On this side of the ocean, the U.S. is sweltering under its own heat domes, which have been made worse by more than 100 wildfires in Canada and Minnesota that are smothering the East Coast in toxic, deadly smoke, turning the July skies an earwax yellow. Dramatic videos of members of the Namaygoosisagagun First Nation in Ontario fleeing their homes by boat have flooded the internet because the images are truly apocalyptic.

Views of just one of the wildfires ripping across Ontario, Canada yesterday. Similar fire behavior is expected today.

Fires in Minnesota and Canada have made air quality across the east coast of the United States “unsuitable for everyone.”

Hundreds of thousands of acres have… pic.twitter.com/Bxb92JXQTi

— The Hotshot Wake Up (@HotshotWake) July 15, 2026

At least 18 states have issued air quality alerts, as they should, because wildfire smoke wreaks havoc on the body, from the brain to the heart and lungs to the kidneys. The small particles in wildfire smoke are an escalating threat to global health, increasing risks of other diseases like COVID. As noted in a recent review in the journal Air Quality, Atmosphere & Health, these effects are not evenly distributed. Poor folks, immigrants, women, children, the elderly and ethnic and racial minorities are disproportionately exposed to these hazards.


Start your day with essential news from Salon.
Sign up for our free morning newsletter, Crash Course.


But we’re all kind of used to this by now, right? And that’s a big problem. We now deal with wildfire smoke every year, in a “season” that stretches longer and longer each year thanks to warmer and drier conditions. Air pollution, wildfire smoke, industrial disasters like the East Palestine, Ohio train wreck and extended pollen seasons are all reasons why people are increasingly concerned with making their indoor environments actually breathable. The result is that air itself is increasingly becoming a luxury item.

The World Health Organization estimates that around 7 million people die from air pollution annually, while 99% of the world’s population lives somewhere that is exposed to air pollution levels above WHO health guidelines. So we stock up on air purifiers, now an $18 billion industry, along with indoor air quality monitors and subscription air filter services. While AC seems ubiquitous to middle-class Americans, approximately 34 million people in the U.S. struggle to afford it, which doesn’t account for the high-tech HVAC systems the ultra-rich indulge in. The issue of quality air access is increasingly linked privilege and wealth. Startups with names like Air Factory and FreshAir are already starting to crop up aiming to fill this growing market demand.

So what will the future really look like? Will people start wearing N95 masks indoors, or have breathing apparatuses hooked up to their chests like fighter pilots? Will air become a municipal service, or a luxury commodity like canned kombucha? If you miss your monthly payment to Amazon Oxygen, will you choke to death? Given the way things are trending, none of that would be entirely surprising. Summer 2026 is already on track to be the hottest in recorded human history, topping 2024, which edged out 2023’s record. (We saw a slight dip in average temperatures in 2025; it didn’t last.) This might well be the hottest summer of your lifetime, and also might be the coolest summer of the rest of your life. Read that sentence again: If you think things are bad now, wait a year. Or five.

My imaginary scenario could still be decades in the future, but a reality where people pay for air doesn’t seem like a joke anymore. We could decide to treat this sci-fi possibility seriously right now by working to cut down air pollution at the source. That would mean, at the very least, sharply reducing the use of fossil fuels — indeed, ending it, sooner rather than later — and choosing to protect forests instead of chopping them down for toilet paper, which is a big factor in why so much of Canada is burning in the first place.

The good news here — and there is some, believe it or not — is that we’re still in the middle of a global green energy revolution, even if it’s being diminished or undercut by the out-of-control AI industry. As much as the Trump administration denies the reality of climate change while catering to the fossil fuel industry, the Iran war and its resulting spike in energy prices are accelerating the transition to renewable energy. We can’t be sure if that’s happening rapidly enough to make a difference, but it remains true that every decision we make now to lower emissions will help to create a more livable future. Of course it’s absurd to imagine breathable air as something you can put a price tag on. The same could be said about food, water and healthcare. We can at least keep air in the realm of absurdity by fighting for a greener future, which we can still see ahead, even through the smoke.

The post Breathable air is a luxury. Paying out of pocket could be next appeared first on Salon.com.

❌