This will happen when there is no matching element, i.e. when a == b is never true for any of the elements in list and the optional parameter orElse is not specified.
You can also specify orElse to handle the situation:
list.firstWhere((a) => a == b, orElse: () => print('No matching element.'));
If you want to return null instead when there is no match, you can also do that with orElse:
list.firstWhere((a) => a == b, orElse: () => null);
package:collection also contains a convenience extension method for the null case (which should also work better with null safety):
import 'package:collection/collection.dart';
list.firstWhereOrNull((element) => element == other);
See firstWhereOrNull for more information. Thanks to @EdwinLiu for pointing it out.