"We urge the commission to withdraw this proposal, enforce the rules already on the books, and return its attention to the derivatives markets it was created to protect—and which genuinely need its attention." |
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A coalition of consumer advocacy groups on Friday forcefully condemned the Commodity Futures Trading Commission’s move to give prediction market platforms like Kalshi and Polymarket “a green light to bypass state gambling regimes.”
Users of these platforms can bet on future events, from the outcome of a sports game to the language of a political speech, by buying “shares,” or “contracts.” The Trump administration claims the platforms are not gambling operations, but derivatives markets because, as Chair Michael Selig has noted, “Congress has entrusted the CFTC with the sole authority to regulate” those.
Various state leaders and organizations have pushed back, arguing that “calling a sports wager an ‘event contract’ does not transform it into a legitimate tool for managing economic risk,” as Demand Progress Education Fund communications director Eric Naing said Friday. “The CFTC should not allow federal derivatives law to become a back door for nationwide gambling.”
However, the CFTC has stuck to its position, publicly backed by President Donald Trump, who has declared that the agency must have “exclusive authority” over this “major industry,” which “we must protect.” The Republican—who infamously bankrupted multiple casinos—notably has a company exploring how to cash in on the sector.
The CFTC announced its proposed rules for prediction markets in March, followed by an update last month. In a Friday letter to the agency chair, Demand Progress Education Fund and 10 other organizations wrote that “we oppose the proposal in its entirety. It fails as a matter of law, as a matter of policy, and as a matter of institutional competence, and we emphatically urge the commission to withdraw it.”
“When Kalshi and Polymarket launched just five years ago, they were curiosities; today Kalshi alone is valued at $22 billion and processes an annualized volume of $178 billion in trades every month,” the coalition detailed. “This proposal should be understood for what it is: a green light for these immense and largely unregulated financial speculation platforms to offer sports betting nationwide and aggressively market it to the public, bypassing the community and mental health protections that states and tribal authorities have spent generations building to address the risks present in this type of speculative activity.”
The fact that 89% of Kalshi’s total fee revenue comes from sports-related contracts “should settle the question of whether these companies are derivatives exchanges or sportsbooks,” according to the coalition, which also includes Americans for Financial Reform Education Fund, Better Markets, Center for Digital Democracy, New Jersey Appleseed Public Interest Law Center, Open Markets Institute, Oregon Consumer Justice, Oregon Consumer League, Protect Borrowers, Public Good Law Center, and Revolving Door Project.
However, the organizations also challenge the CFTC’s interpretation of the Commodity Exchange Act, writing that the proposal’s “framing inverts the statute’s logic and Congress’ intent, by treating contracts as presumptively allowed unless found contrary to the public interest through a case-by-case inquiry.”
If the agency charges ahead with its current plans, “ordinary people will pay the price,” the groups warned. “Expanded sports betting has increased personal bankruptcies, reduced household savings, and led to higher rates of domestic violence. Prediction markets supercharge these effects: they run 24/7 in your pocket and aggressively market to young adults, who may make low bets initially but ramp up their commitment over time. Seventy percent of users lose money, and 70% of all profits go to 0.04% of traders. Those outcomes define a casino that has figured out how to escape the regulations that casinos have to follow, like responsible gaming disclosures and financial stability protections for their customers.”
“The proposal also does almost nothing to address the insider trading problem that makes prediction markets much more easily manipulated than the structures of ordinary gambling,” the coalition wrote—just over a week after the White House had to address one of Trump’s teleprompter operators allegedly using his access to the president’s speech plans to make money on Kalshi.
The organizations further argued that “even if the commission were the right institution to police all of this, it is not capable of doing so. The CFTC, which oversees $400 trillion in US derivatives markets, has a budget frozen at $365 million... Adding nationwide responsibility for sports betting, entertainment wagering, and political gambling on top of that is not a proper expansion of the agency’s mission, and it would mean that the farmers, manufacturers, and energy companies who depend on well-functioning commodity markets will pay the price.”
“We urge the commission to withdraw this proposal, enforce the rules already on the books, and return its attention to the derivatives markets it was created to protect—and which genuinely need its attention,” concluded the coalition. “The regulation of gambling and gaming belongs with the states and tribal authorities that have the experience, the tools, and the democratic accountability to do the job.”
Six people were killed as a Palestinian man disarmed and shot Israeli settlers raiding his village in the illegally occupied West Bank. |
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Israeli Prime Minister Benjamin Netanyahu on Friday announced actions to tighten and accelerate the illegal occupation and colonization of the West Bank after a Palestinian defending his village from rampaging settlers fatally shot two Israelis—whose companions killed four Palestinians in response—while other members of Netanyahu’s government called for more ethnic cleansing in Palestine.
Residents of Tell—located 3 miles southwest of Nablus and less than 2 miles from the illegal Israeli settlement of Havat Gilad—said settlers attacked homes on the outskirts of the town at around 8:30 on Friday morning.
According to The Times of Israel, a group of several dozen settlers invaded the village under the pretense of going on a hike. However, as the newspaper noted, Tell is located in an area of the occupied West Bank that is off limits to Israelis unless they obtain permission from the Israel Defense Forces (IDF), which the military said they did not do.
Local Palestinian leader Essam Saifi told Reuters that settlers attacked the eastern part of Tell and tried to break into homes there. When residents emerged to confront the settlers, the intruders opened fire on them before leaving.
Backed by IDF troops, the settlers returned around half an hour later. Video recorded by one of the settlers shows an Israeli firing his gun in the air while his companions, who included minors, shout threats while other settlers stormed local residents’ land. A Palestinian man snatched a long gun from a member of the Havat Gilad local security squad and shot him and an IDF major, mortally wounding both men.
Israelis returned fire, killing four Palestinians, including the shooter, and wounding four others. IDF commandos later raided a hospital in Nablus and seized two of the wounded Palestinians.
The Palestinian Foreign Ministry said in a statement that “this massacre represents a renewed image of the ongoing Nakba to which our Palestinian people are subjected,” a reference to the ethnic cleansing of more than 750,000 Arabs from Palestine by Zionist forces during the establishment of the modern state of Israel in 1948.
The ministry also condemned “the misleading narratives promoted by the Israeli occupation authorities... in a systematic attempt to turn the executioner into the victim, and to cover up the crimes of murder, field executions, massacres, and grave violations committed by the occupation forces and settler militias against the Palestinian people.”
IDF troops subsequently locked down Tell and Nablus while deploying five additional companies to the area and canceling soldiers’ weekend furloughs in preparation for imminent “extensive counterterrorism operational activity in the sector.”
Responding to the incident as well as two separate stabbings of Israelis in the West Bank on Thursday, Netanyahu convened a security consultation, which resulted in a joint statement with Israeli Defense Minister Israel Katz announcing a tightening of the occupation and acceleration of the colonization of Palestine—both already illegal under international law.
The statement said Israel will demolish the family home of the Palestinian who shot the two Israelis, confiscate arms and revoke work permits of Palestinians in “villages acting as terrorist hubs,” reinforce IDF units throughout the occupied territories, expedite the “legalization of farm outposts” and establish new ones, and increase apartheid checkpoints and road separations.
Israeli Finance Minister Bezalel Smotrich responded to the incident by calling for the destruction and “evacuation”—a term widely viewed as a euphemism for ethnic cleansing—of local Palestinians “for their own protection.”
“This is our appropriate Zionist answer to terrorists and terrorism,” Smotrich said.
“We will not normalize the erosion of deterrence and the brazenness of our enemies in recent weeks against the pioneers of settlement and the farms,” Smotrich, who chairs the far-right Religious Zionism party, said on social media, “I demand that the IDF act with an iron fist against the village of the murderers and its surroundings and restore governance and deterrence.”
Israeli National Security Minister Itamar Ben-Gvir, who leads the far-right Jewish Power party, demanded the Palestinian shooter’s town be obliterated like Beit Hanoun in Gaza, where Israeli forces have been waging a war that United Nations officials, legal and academic experts, and around 20 national governments have called a genocide.
“For every Jew murdered, the enemy must suffer the loss of land and homes,” Ben-Gvir said. “This is the language spoken in the Middle East, and just as we spoke it in Gaza, it is time to speak it in [the West Bank] as well.”
Yair Golan, who heads the opposition Democrats, accused Netanyahu and Katz of “a clear intent to set the area ablaze.”
“Every escalation in the field endangers human lives—Israelis and Palestinians alike,” he added.
David Zini, the head of Shin Bet, Israel’s internal security and counterintelligence agency, urged the Israeli public “not to take the law into their own hands and to place their trust in the IDF and the Shin Bet, whose mission and duty this is.”
Many settlers rejected Zini’s call and instead carried out revenge attacks on West Bank towns and villages, reportedly including Madama, Urif, Burin, Far’ata, Jit, Qabalan, Sarra, and others, resulting in multiple injuries.
Meanwhile, settlers mourned the killing of the two slain Israelis, 32-year-old Havat Gilad civil defense squad member Benayahu Mellet and 27-year-old IDF Maj. Yuval Ezra.
Extremist settler Meir Ettinger eulogized Mellet on social media, saying that “he was never satisfied with recognized roads and fences, and strived continuously to conquer the region.”
“Benayahu always insisted on not making a distinction between areas C and B,” Ettinger added.
Under the moribund Oslo Accords, the West Bank is divided into Areas A, B, and C. Area A is under full Palestinian Authority control, while Area B is under mixed control and Area C is under full Israeli control.
Israeli efforts to expand West Bank settlement activity have accelerated dramatically since the Hamas-led attack of October 7, 2023. Attacks on West Bank Palestinians, including pogroms carried out by mobs of settlers protected and sometimes joined by Israeli troops, have killed at least 1,111 Palestinians—at least 243 of them children—since October 2023, according to the latest report published by the UN Office for the Coordination of Humanitarian Affairs.
Israeli officials say 47 Israelis—including IDF troops, security personnel, and civilians—have been killed by Palestinian attacks over the same period.
According to the Israeli human rights group B’Tselem, more than 620,000 Jews currently reside in over 130 settlements in the West Bank and East Jerusalem. While Israel grants every Jew in the world the right to settle there, it has—against UN resolutions and international law—refused to allow the approximately 5 million Palestinian refugees alive today to return to their homeland.
B’Tselem is one of 20 Israeli human rights groups that on Friday issued an “urgent call to the international community to take immediate action to stop Israel’s violence and prevent pogroms by settler militias and the Israeli army across the West Bank.”
"When the Trump administration declares a crisis ‘under control’, it’s time to brace for the worst yet to come," said one critic. |
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The United States under Trump-appointed Health and Human Services Secretary Robert F. Kennedy Jr. is currently experiencing major public health crises, including record-high measles cases, an outbreak of a parasite that causes explosive diarrhea, and potential salmonella contamination that led to a recall of nearly two million egg cartons.
Numbers released by the US Centers for Disease Control and Prevention (CDC) on Friday revealed that there have been 2,318 recorded cases of measles this year, the highest number of cases recorded since the virus was declared eliminated in the country more than two decades ago.
Some public health experts who spoke with The New York Times said that lower uptake of the measles vaccine was to blame for the outbreak.
Jennifer Nuzzo, director of the Pandemic Center at the Brown University School of Public Health, told the Times that “this is just going to keep happening” in the US unless vaccination rates improve.
“It’s going to mean living in a perpetual state of vulnerability and risk until we get vaccination levels up,” Nuzzo emphasized.
Dr. Jonathan Temte, a former chairman of the CDC’s vaccine advisory committee, placed blame for the outbreaks on the US Department of Health and Human Services (HHS) under the leadership of Kennedy, who prior to becoming America’s top public health official was best known as an anti-vaccine conspiracy theorist.
“We have seen virtually no national messaging,” said Temte. “We’ve seen no ad campaigns... I think that really tells us something about their priorities.”
Brad Woodhouse, president of Protect Our Care, also slammed Kennedy’s leadership at NHS, accusing him and President Donald Trump of being on “a suicide mission to scare America families away from vaccines without cause or evidence.”
“What they’ve accomplished is a huge dip in vaccination rates and the worst measles crisis in 35 years,” Woodhouse added. “While the nation’s measles elimination status is doomed, the Trump CDC apparently has not spent a dime on public service ads promoting the one thing that will get us out of the woods: the measles vaccine.”
Measles isn’t the only disease spreading throughout the country, as the US Food and Drug Administration (FDA) announced on Friday that “four new states... are now considered part” of the outbreak of cyclosporiasis, a foodborne illness that causes explosive diarrhea.
The FDA has said that iceberg lettuce sourced from Taylor Farms de Mexico is likely the source of the outbreak, which so far has led to nearly 2,000 infections and almost 100 hospitalizations.
News about the continued spread of the outbreak came two days after the FDA revealed it was investigating another potential source of cyclospora, the parasitic bacteria that causes cyclosporiasis.
Sen. Jon Ossoff (D-Ga.), who earlier this week demanded answers from Kennedy about his decision to terminate the CDC’s previously required surveillance of cyclospora, sent the HHS secretary a letter on Friday ripping his leadership of the department.
“Your silence amidst an ongoing outbreak of diarrheal disease,” Ossoff wrote, “is indicative of the reckless arrogance with which you demolished America’s public health defense.”
Woodhouse, in a statement released Thursday, noted that Kennedy had declared the outbreak “under control” this week even though federal data shows it growing.
“If history is any judge, when the Trump administration declares a crisis ‘under control’, it’s time to brace for the worst yet to come,” said Woodhouse.
The FDA also announced on Wednesday that Midwest Poultry Services was voluntarily recalling nearly 1.6 million cartons of eggs over potential contamination by the bacteria salmonella.
As the FDA noted, salmonella infections often result in a number of unpleasant conditions, including “fever, diarrhea (which may be bloody), nausea, vomiting, and abdominal pain.”
Economist Dean Baker summed up the current situation in the US in a Friday social media post: “War, diarrhea, measles, and now salmonella, that’s pretty damn MAGA!”
"We stand firmly against this report and other efforts by the Trump administration to weaponize the federal government against dissent, which is a patriotic tradition." |
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President Donald Trump’s escalating claims that Cuba and its supporters poses a threat to US security have been denounced as “laughable” and “crazy,” but progressive lawmakers are warning that the State Department’s report alleging that the country of roughly 10 million people aims to “conquer” the United States and is backing “left-wing terrorism on American soil” represents a genuine attack on Trump’s perceived political enemies.
“Trump appears hell-bent on taking America back 70 years to the height of Cold War McCarthyism, when hawkish foreign policy was paired with unsubstantiated accusations of communist subversion and political repression against dissidents at home,” said a group of Democrats led by progressive Rep. Ilhan Omar (D-Minn.), chair of the Congressional Progressive Caucus Peace and Security Taskforce. “We condemn this report’s attack on Americans’ constitutional rights to free speech and assembly.”
Omar on Thursday was joined by 10 other lawmakers, including Reps. Alexandria Ocasio-Cortez (D-NY), Jim McGovern (D-Mass.), Delia Ramirez (D-Ill.), and Rashida Tlaib (D-Mich.), in speaking out days after the State Department released its report titled “Cuba: The Capital of 21st Century Communism.”
The report, said the lawmakers, was a “McCarthyite attack on Americans’ free speech rights.”
The 100-page document claims that Cuba’s communist government “has waged a sustained campaign of subversion against the United States” and recruited “generations” of activists in the US, listing by name people who have participated in solidarity campaigns in support of Cuban people as the Trump administration has imposed a destructive oil blockade on the island nation.
“Trump appears hell-bent on taking America back 70 years to the height of Cold War McCarthyism.”
In January, Trump issued an executive order declaring that Cuba posed an “extraordinary threat” to US national security and threatened countries with tariffs should they provide oil to the Cuban government. The administration had already cut off Cuba’s top source of energy by taking control of Venezuela’s vast oil reserves. The blockade has left the Cuban healthcare and education systems and other daily public services struggling to operate.
US groups and citizens named in the report as having spoken out against the administration’s blockade and its threats of military action against Cuba include commentator Hasan Piker, Amazon Labor Union founder Christian Smalls, the National Lawyers Guild, and campus activist Isra Hirsi—Omar’s daughter.
“We denounce this administration’s irresponsible attacks against civil society organizations, activists, journalists, labor leaders, members of Congress, elected officials, and private individuals based on their advocacy for peaceful foreign policy and social justice at home,” said Omar and the Democrats who joined her in the statement.
The lawmakers said they would use their “full oversight power as members of Congress and elected officials to stop the persecution of Trump’s perceived political enemies,” including those who speak out publicly against the president’s policies in Cuba—activity that is protected by the First Amendment.
“We stand firmly against this report and other efforts by the Trump administration to weaponize the federal government against dissent, which is a patriotic tradition,” they said.
The report is the administration’s latest attack on the free speech rights that are integral to the US Constitution and American history. The White House has pushed to deport foreign students who protested the US-backed Israel war on Gaza, designated anti-fascist organizers as “terrorists,” and, nearly a year after issuing a presidential memo demanding a strategy to “disrupt” left-wing networks, recently convened a summit to launch a “global offensive against the transnational threat of Radical Left terrorism.”
Meanwhile, said Omar on Thursday, Trump and Secretary of State Marco Rubio—the son of Cuban immigrants and a long-time proponent of regime change on the island—“are intensifying decades of economic war” against the people of Cuba and deliberately depriving “the entire island’s population of adequate food, fuel, and medicine.”
Along with ending his attacks on those who oppose his policies, said Omar, “it is past time for Trump to obey the Constitution and end the dangerous, cruel, and illegal naval blockade causing collective punishment against Cuba.”
"The American people are disgusted with an economic system in which one guy on top, Elon Musk, owns more wealth than the bottom half of American society."
Sen. Bernie Sanders on Thursday explained to Fox Business reporter Chase Williams why candidates backed by the Democratic Socialists of America have been racking up victories in Democratic primaries throughout the US. While walking the halls of the US Capitol building, Williams asked Sanders (I-Vt.) if he believed DSA-backed candidates would hurt the Democratic Party’s chances of retaking Congress from Republicans this fall. Sanders said he didn’t think so and then offered his opinion on why many voters are attracted to democratic socialism. “The American people are disgusted with an economic system in which one guy on top, Elon Musk, owns more wealth than the bottom half of American society,” Sanders said. “They’re tired of a situation where 60% of our people live paycheck-to-paycheck... they are tired of a corrupt political system in which billionaires buy elections.” Williams attempted to interject, but Sanders kept speaking. “They want change,” he continued. “They want candidates and members of Congress with the guts to stand up for working families and not simply take big checks and not simply have super PACs elect... the next senators and members of Congress.” Williams again pressed Sanders if he thought democratic socialists were a liability for the Democratic Party. “No,” Sanders replied. “I think that if you have candidates who are standing up for the working class, and explaining that there is something wrong when the billionaire class is getting richer and richer, while so many Americans can’t afford groceries, they can’t afford housing, they can’t afford healthcare. That’s not the kind of economy the American people want.”
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