They are already part of Waze...
All the info you want to know about Camera (Speed & Red Light) and probably more: http://www.waze.com/wiki/index.php/Cameras
As for police, it's right there on your report screen, all Wazers need to do is report when they see them setup for a speed trap. Do NOT report police that are driving (either on patrol or responding to something) - predicting where they will be is nearly a mathematical impossibility as time passes...
Please note these reports on pop-up/alert when they are reported for your direction of travel.
