Market
What will be the estimated economic damage of the Pacific Palisades wildfire by March 31, 2025?
2
Resolution / Starting Odds
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Reports from insurance companies and government agencies
Story
Wildfire Destroys Homes, Forces 30,000 to Evacuate Pacific Palisades Amid State of Emergency
Jan 8, 2025, 08:30 AM
A rapidly spreading wildfire erupted in the Pacific Palisades area of Los Angeles on Tuesday, prompting mandatory evacuations for at least 30,000 residents. The brush fire, fueled by fierce Santa Ana winds reaching up to 80 mph, quickly consumed over 2,900 acres of vegetation by Wednesday, threatening more than 13,000 structures in the upscale neighborhood. California Governor Gavin Newsom declared a state of emergency as firefighters battled the blaze amid life-threatening, destructive wind conditions. The wildfire destroyed multiple homes and buildings, with some residents abandoning their cars to flee on foot amid traffic jams. Power outages affected over 220,000 homes, and authorities warned that the worst might be yet to come due to continuing high winds.
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