You’re reading the Essential California newsletter <\/p>\n
L.A. Times reporters guide you through the most important news, features and recommendations of the morning.<\/p>\n
By continuing, you agree to our Terms of Service<\/a>, which include arbitration and a class action waiver. You agree that we and our third-party vendors may collect and use your information, including through cookies, pixels and similar technologies, for the purposes set forth in our Privacy Policy<\/a> such as personalizing your experience and ads. <\/p>\n They bet on how fast the blazes would grow, how long it would take to contain them and how much damage they would do. <\/p>\n One Polymarket user commented on a thread where people could put money on the Palisades fire\u2019s containment date, \u201cThat was fun. Thanks everyone. Until the next time!\u201d <\/p>\n Even if that\u2019s not illegal, it\u2019s in spectacularly poor taste. <\/p>\n Betting markets have exploded in popularity<\/p>\n Thanks to the prediction markets, any question can be turned into a virtual game of craps. <\/p>\n Who will win the 2028 presidential election? As of yesterday morning, there was $687 million riding on that question on Polymarket. Vice President J.D. Vance had the best odds, 21%, followed by Secretary of State Marco Rubio and Rep. Alexandria Ocasio-Cortez, at 12% each. <\/p>\n Would any of them actually make a good president? Zzzzzzz. Boring! Get some skin in the game or get out! <\/p>\n You can also bet on the future of U.S. interest rates, the prospects of a ceasefire between the U.S. and Iran and the Los Angeles Rams\u2019 odds of winning next year\u2019s Super Bowl. <\/p>\n Sports betting \u2014 once strictly forbidden outside of Las Vegas \u2014 is a huge part of the prediction markets\u2019 business. <\/p>\n Few guardrails prevent bad actors from abusing markets<\/p>\n There are some limits on who can place certain bets, but they have little to do with old-fashioned notions of decency or good taste. Other gamblers just don\u2019t want to get swindled, so anything that smacks too clearly of insider trading can get you in trouble. <\/p>\n For example, earlier this year, a U.S. soldier was criminally charged for using his access to military intelligence to make $400,000 betting on the ouster of Venezuelan President Nicol\u00e1s Maduro, just before U.S. forces snatched him from his compound in Caracas. <\/p>\n Other military insiders<\/a> have been accused of profiting from eerily prescient bets involving U.S. strikes on Iran. <\/p>\n Even beloved YouTuber Mr. Beast \u2014 wildly popular for his goofball videos, like a 15-second clip of him trying to pick up dogs of increasing size<\/a>, which got more than 8 million views \u2014 fired a producer for using inside information to win bets about upcoming posts on Kalshi, another popular prediction market. <\/p>\n Is nothing sacred in the manosphere? Also, is it alarming that Mr. Beast has become the adult in the room? <\/p>\n The L.A. fire bets prompted a small effort to regulate<\/p>\n Following revelations about betting on the L.A. fires, a group of U.S. senators led by California Sens. Alex Padilla and Adam Schiff stepped into this extremely transactional, jarringly unsentimental arena to ask an obscure federal agency, the U.S. Commodity Futures Trading Commission, to restrict betting on natural disasters. <\/p>\n Aside from the dehumanizing nature of it all, the senators worry enterprising gamblers might one day set fires \u2014 or interfere with first responders \u2014 in an effort to improve their odds. <\/p>\n Essentially, they\u2019re asking the current federal administration to show some compassion, act like adults and prevent people from gaming the system. <\/p>\n Wanna bet on the outcome? That\u2019s not a rhetorical question \u2014 we could easily do it and invite the world to join us. <\/p>\n Top stories (Christina House\/Los Angeles Times)<\/p>\n Poll: California voters favor progressive candidatesCalifornia voters favor progressive candidates<\/a>, but are split over democratic socialism, a new poll finds. Speaking of polls: The one showing Bass leading Raman by double digits was bogus<\/a>, says the company that released it.We talked to legal experts to see if releasing a fake poll is legal. They said it depends on the intent<\/a>. The fake poll added to challenges facing<\/a> the public opinion industry.Financial maneuvering and the Lakers saleMark Walter\u2019s holding company plans to buy up to $6.5 billion in assets<\/a> from a troubled life insurer he controls that is at the center of a controversy over his sale of the Lakers.Here\u2019s more on the obscure financial maneuver<\/a>. Meanwhile, Jeanie Buss is contesting<\/a> her family\u2019s sale of its Lakers ownership stake to Bob Iger and Joshua Kushner. Housing and homelessnessChildren and techOpening arguments began Tuesday in a multibillion-dollar lawsuit filed by California and other states against Meta. The states allege Meta intentionally designed its platforms to hook children<\/a> and lied about the safety of its products.OpenAI introduced \u2018ChatGPT for Teens<\/a>\u2019 as AI safety concerns mountMore newsCommentary and opinionCalifornia columnist Gustavo Arellano\u2018s message to Catholic voters: Lead Americans in rebuking<\/a> MAGA in the midterms. The actor Jeff Daniels argues that as nuclear tensions spread worldwide, Reagan\u2019s lessons are more relevant than ever. <\/a> Editor\u2019s pickMore picksAfter L.A. jazz festival collapses, musicians pack an underground \u2018Can\u2019t Cancel Jazz<\/a>\u2019 pop-up.After 25 years in showbiz, Dakota Fanning is as booked and busy<\/a> as ever.Things to do (Myung J. Chun \/ Los Angeles Times)<\/p>\n Today\u2019s recipe (Myung J. Chun \/ Los Angeles Times)<\/p>\n If you want a unique appetizer for your next party or gathering, Found Oyster\u2019s Scallop Tostadas with Yuzu-Apple Vinaigrette<\/a> might be your next experiment. The dish is a masterclass in flavor, with each bite delivering sweet, savory and sour. <\/p>\n Today\u2019s question<\/p>\n What is your favorite airport to fly into or out of in California and why? Email us at essentialcalifornia@latimes.com<\/a>, and your response might appear in the newsletter this week.<\/p>\n Today\u2019s photo Members of the Ragu Mutsumi Kai group carry a traditional Japanese \u201cportable shrine\u201d through the streets during the 84th consecutive Nisei Week Grand Parade in Little Tokyo in downtown Los Angeles.<\/p>\n (David Butow \/ For the Times)<\/p>\n Games Here\u2019s today\u2019s mini crossword<\/a>, plus our other free, daily crossword puzzle, sudoku, word search and jigsaw games<\/a>.<\/p>\n Have a great day, from the Essential California team<\/p>\n Jack Dolan, investigative reporter![\"A](\"https:\/\/www.newsbeep.com\/us-ca\/wp-content\/uploads\/2026\/08\/1787152693_558_.jpeg\")
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Hugo Mart\u00edn, assistant editor, Fast Break desk
Kevinisha Walker, multiplatform editor
Andrew J. Campa, weekend writer
Karim Doumar, head of newsletters
Shi Bradley, audience intern<\/p>\n