Shaikh Ibn ul-Uthaymeen rahimahullah was asked:
What is the ruling on buying, selling, and using firecrackers which are called (الطرطعان )
All praise is due to Allah and may peace and blessings be upon our Prophet, and upon his family and all his Companions:
That which I see is that it is unlawful to buy and sell these due to two reasons:
The first reason: it is a waste of money and wasting money is prohibited by the Prophet sallahu alayhi wa salam
The second reason: in the firecrackers is harm to the people by its disturbing sound. Sometimes it causes fires if the firecracker falls on something that is combustible and is live and cannot be extinguished. So due to these two reasons, we see that it is impermissible and that it is not allowed to buy and sell it”
[Taken from here]
The Shaikh rahimahullah also said:
يقول أهل العلم: إن السفيه هو الذي يبذل ماله في الحرام أو في غير فائدة، فالأول كالذي يبذل ماله في الخمر والمخدرات وما أشبهها، فإن هذا سفيه يحجر عليه، والثاني كالذي يصرف ماله في المفرقعات، أو في الفقاعات، أو ما أشبه ذلك، أو يشتري زيتاً أو بنزيناً ويوقد فيه النار ويتفرج عليه فقط، فهذا سفيه يحجر عليه.
“So the people of knowledge said: that verily the fool is the one who spends his money in unlawful things or in that which has no benefit. So the first type is the one who spends his money on alcohol or drugs and what resembles that. So this fool is forbidden from that. The second is like the one who spends his money on firecrackers or bubbles or what resembles that. Or he buys oil or gasoline and lights a fire and he just watches it only. So this is a fool which is forbidden from that…”
So buying bubbles is prohibited because it is a waste of money!! Subhanallah, something new for us all.
And Allah knows best
This is also the opinion of Shaikh Salih al-Fawzan and Shaikh Yahya ibn Ali al-Hajoori hafidhuhumullah
Faisal Ibn Abdul Qaadir Ibn Hassan