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Senate Democrats have moved to stall President Donald Trump's bid to install a new leader of the US Federal Reserve, condemning the move as 'absurd' given ongoing criminal investigations into the central bank's leadership.Democratic lawmakers on the Senate banking committee urged its Republican leadership to postpone the planned confirmation hearing for Kevin Warsh, the financial executive and former Fed governor Trump has nominated to replace Jerome Powell as Fed chair.In a letter to banking committee chair Senator Tim Scott, the 11 Democrats called for a hearing currently scheduled for Tuesday to be delayed until investigations into Powell and Lisa Cook, a Fed governor, are closed.Powell is facing a criminal investigation into the renovations of the central bank's headquarters, which he dismissed as a 'pretext' tied to the Fed's refusal to bow to Trump's demands. The Trump administration also tried to fire Cook, an appointee of Joe Biden, for alleged mortgage fraud.The Democratic senators wrote in their letter to Scott: 'It would be absurd on its face to allow President Trump to handpick the next chair of the Federal Reserve as his Department of Justice actively pursues criminal investigations of not one, but two sitting members of the Federal Reserve board.'Warsh's nomination also faces hurdles from within the president's own party, with outgoing GOP senator Thom Tillis stating he would not support any nomination as long as there is an investigation into Powell.

The United States Department of Justice has opened an investigation into whether the National Football League (NFL) has engaged in anticompetitive tactics that harm consumers. This probe comes amid concerns over the difficulties consumers face in watching sports games and the growing trend of selling broadcast rights to streamers.Major broadcast station owners, US regulators, and senators have raised concerns about the increasing costs for consumers to access sports games, with estimates suggesting it could cost over $1,500 to watch all NFL games last year. The Federal Communications Commission (FCC) has also opened a review into the shift of live sports away from free broadcast TV to pay TV and subscription services.The NFL has responded by stating that more than 87 percent of its games are aired on free broadcast TV and that all games are available on free broadcast television in markets of participating teams. However, the investigation's nature and scope are still unclear.A 1961 law exempts major sports leagues from antitrust laws, allowing them to pool their individual teams' television rights and sell them as a package. This has led to concerns about the NFL's dealings with streaming platforms and potential anticompetitive practices.

At least 50 new accounts on Polymarket, a prediction market platform, made substantial bets on a US-Iran ceasefire on Tuesday, resulting in profits of hundreds of thousands of dollars. These bets were placed despite escalating rhetoric from Donald Trump and few signals of an imminent deal.An analysis of blockchain data shows that one wallet, created on Tuesday at 10am ET, placed roughly $72,000 in bets at an average price of 8.8¢ and cashed out for a profit of $200,000. Another wallet, which joined the platform on April 6, won $125,500.The trading pattern of newly created accounts placing strategic, well-timed bets has raised questions about insider trading and the need for regulation in prediction markets. Bipartisan groups of senators and representatives have introduced legislation to broaden the definition of insider trading to include prediction markets.“This is why these markets need regulation,” said Todd Phillips, a professor at Georgia State University. “We can’t have people trading with inside information and expect other traders are going to be OK being in these markets.”Polymarket and other industry players, including Kalshi, have acknowledged the need to broaden the definition of insider trading on their platforms.

Washington, D.C. – President Donald Trump declared a two‑week ceasefire with Iran on Tuesday, just hours after threatening a massive attack on the country. The pause will allow Iran to reopen the strategic Strait of Hormuz while both sides negotiate a longer‑term settlement. Republican Senator Lindsey Graham, a noted Iran hawk, welcomed the diplomatic move but stressed extreme caution. He praised the “hard work” of negotiators but warned that any agreement must be scrutinized, noting that Iran’s 10‑point plan reportedly offers sanctions relief and permits Tehran to retain control of the strait. Graham also warned that Iran must not be rewarded for its earlier attacks on the strait, writing on X: “We must remember that the Strait of Hormuz was attacked by Iran after the start of the war, destroying freedom of navigation. Going forward, it is imperative Iran is not rewarded for this hostile act against the world.” Democratic senators, while relieved that U.S. forces would be out of immediate danger, seized the moment to demand accountability. Senator Ruben Gallego said, “Stopping war is good… we can criticize why we got into this war, the illegality of it and hold the Trump admin accountable. But right now I am relieved.” Other Democrats, including Senator Ed Markey and Congresswoman Alexandria Ocasio‑Cortez, warned that the ceasefire does not erase the fact that the conflict was launched without congressional authorization and that targeting civilian infrastructure may constitute war crimes. Ocasio‑Cortez wrote, “The President has threatened a genocide against the Iranian people… launched a massive war… without reason, rationale, nor Congressional authorization – which is as clear a violation of the Constitution as any.” Critics on the right, such as far‑right activist Laura Loomer and commentator Mark Levin, dismissed the truce as a temporary pause, predicting the war will resume. Loomer warned, “The negotiation is a negative for our country… I don’t know why people are acting like this is a win.” Levin added, “This enemy is still the enemy; they’re still surviving.” The conflict, which began on February 28 without a congressional war declaration, has already seen high‑profile strikes, including an attack that the article claims killed Iranian Supreme Leader Ayatollah Ali Khamenei and a devastating strike on a girls’ school in Minab that killed over 170 civilians, mostly children. Economically, the closure of the Strait of Hormuz earlier in the war sent oil and gas prices soaring, underscoring the strategic importance of the waterway. Senator Chris Murphy (D) warned that allowing Iran to control the strait would be a “history‑changing win” for Tehran. Across the aisle, lawmakers agree that the ceasefire is not a clean slate. Advocacy director Raed Jarrar of DAWN urged an immediate congressional investigation into the war’s origins, funding, and accountability for civilian casualties. As the two‑week pause unfolds, U.S. officials and legislators will closely monitor negotiations, with the broader debate over war powers, constitutional authority, and potential impeachment of President Trump remaining front and center in Washington.

Article 52 of the first Additional Protocol to the Geneva Conventions bars attacks on civilian targets. The International Criminal Court has already issued arrest warrants for Russian officers involved in strikes on Ukraine’s energy grid, a precedent that would apply to the United States if President Donald Trump’s threats to bomb Iran were carried out. Trump, alongside Defense Secretary Pete Hegseth, has adopted a tone that resembles a “blood‑thirsty fever dream.” Hegseth framed the proposed Operation Epic Fury as a 21st‑century crusade, while Trump unleashed a profanity‑laden tirade demanding the immediate reopening of the Strait of Hormuz, warning that “Tuesday will be Power Plant Day, and Bridge Day… Open the Fuckin’ Strait, you crazy bastards, or you’ll be living in Hell.” This rhetoric, emerging just before the United States’ 250th independence anniversary, undermines the credibility of the presidency and the nation’s moral standing. The editorial notes that, in a more restrained political climate, senators like Chris Murphy might explore constitutional avenues to remove Trump, but the current cabinet’s “craven complicity” makes such prospects remote. The international community now watches anxiously, fearing that a broader escalation between the United States, Israel, and Iran could trigger “unknowable and spiralling consequences.” Iran has signaled it could widen its attacks across the region, and the recent closure of the Hormuz Strait demonstrates that Trump’s threats are not merely rhetorical. NATO allies have declined to endorse Trump’s approach, citing the absence of a coherent strategy and a lack of legal justification. They hope the president’s apocalyptic language masks a genuine search for a rapid de‑escalation, especially as global economic pressure mounts. Trump later claimed there was a “good chance” of a cease‑fire with Iran before his deadline, yet hours later Israel bombed a key petrochemical plant in Iran’s largest gas field, contradicting any notion of imminent peace. During a White House press briefing, Trump and Hegseth highlighted the rescue of a missing U.S. fighter crew shot down over Iran, a moment that starkly contrasted with the looming threat to thousands of lives and the stability of the global economy, now hanging on the whims of a president driven by self‑aggrandizement and an echo chamber of advisers.

Rising fortunes among the ultra‑rich under the Trump administration have ignited a wave of tax‑reform campaigns across the United States. In California, volunteers like Karen Sanchez are gathering signatures for a one‑time 5% wealth tax targeting the state’s 200‑plus billionaires to offset federal cuts to hospitals, education and food‑assistance programs.At least ten states are exploring similar measures. Washington recently enacted its first income‑tax aimed at roughly 20,000 millionaire households, while Massachusetts and Minnesota already channel wealth‑tax proceeds into preschool, K‑12 meals and transportation infrastructure.On the federal front, Senators Bernie Sanders and Representative Ro Khanna have introduced the “Make Billionaires Pay Their Fair Share Act,” proposing an annual 5% levy on billionaire net worth. Khanna argues that the ultra‑wealthy fund private health insurers, defense contractors and political campaigns, creating a stark fairness gap.Data from Oxfam shows that in the twelve months after Trump’s re‑election, billionaire fortunes grew at a rate three times faster than the average annual growth of the previous five years. Meanwhile, the federal minimum wage has remained stagnant at $7.25 for fifteen years, underscoring the widening economic divide.A Data for Progress poll released last fall found that 70% of Americans believe the economic system favours corporations and the wealthy. “People are angry and want change,” says Amy Hanauer of the Institute on Taxation and Economic Policy (ITEP), noting that activists are leveraging every level of government to seek relief.The movement draws on a two‑decade history of class‑based activism, from the Occupy Wall Street protests to Senator Sanders’ 2016 campaign that foregrounded wealth‑tax proposals. Yet inequality has deepened: CEOs of the five largest U.S. firms now earn, on average, **$52 million** annually—over a thousand times the typical worker’s salary.Political spending by billionaires has also exploded. A recent New York Times analysis reveals that billionaire contributions rose from **0.3% of campaign funds in 2008** to **19% in 2024**, amounting to more than **$3 billion** from roughly 300 ultra‑rich donors, many of whom supported candidates opposing wealth taxes, including former President Donald Trump.The war in Iran has further inflamed resentment, with the United States spending **$11.3 billion** in the first week of bombardment—far exceeding the annual budgets of agencies such as the CDC, EPA and the National Cancer Institute.Local victories are feeding the momentum. New York City’s mayoral race saw Zohran Mamdani win on a platform that includes taxing the rich to fund affordable housing, groceries and transit. Councilmember Chi Ossé led a 1,500‑person march to the state capitol, urging Governor Kathy Hochul to permit a city‑level millionaire tax, a move that now has backing from some state Democrats.Beyond New York, states like Rhode Island, Hawaii, Pennsylvania, Virginia, Illinois and New Mexico are debating various wealth‑tax mechanisms, including the popular “mansion tax” on high‑value home sales. Currently, **17 localities** have adopted such taxes, most passed between 2018 and 2023.California’s gubernatorial race has become a flashpoint. Billionaire‑backed candidates Matt Mahan and Tom Steyer are vying to replace Governor Gavin Newsom, with the tech elite—such as Sergey Brin and Joe Lonsdale—pouring money into campaigns opposing the billionaire tax. Of the 30 billionaires who have contributed to the race, **25 supported Mahan**, who has positioned himself as a staunch anti‑tax candidate.For Sanchez, the stakes are personal. The proposed tax seeks to replace **$100 billion** in federal health‑care funding cut by Trump’s “One Big Beautiful Bill Act,” which threatens hospital closures and layoffs in the nation’s fourth‑largest economy. She aims to collect **875,000 signatures** by late June to secure the initiative on the November ballot.“It’s creating a network of groups all working toward a common good,” Sanchez says, reflecting a broader sentiment that collective action could finally translate the public’s demand for fiscal fairness into concrete policy.

US senators have strongly rebuked Ticketmaster for increasing ticket fees following a regulatory crackdown on hidden charges. This move has been described as a 'bait and switch' tactic, leaving consumers with higher costs.The Federal Trade Commission (FTC) had mandated Ticketmaster to disclose all concert ticket fees upfront, known as all-in pricing, starting last May. In response, the company removed the order processing fee charged at the end of a transaction. However, documents obtained by the Guardian reveal that Ticketmaster simply raised other fees to offset the loss, potentially violating the FTC's ban on misleading fees.Senator Richard Blumenthal from Connecticut expressed his concerns, stating, 'Ticketmaster seems to believe it has a get-out-of-jail-free card to ignore antitrust and consumer protection laws. The FTC is going to have to choose whether to protect consumers and enforce the law, or cave to Ticketmaster lobbyists.'The FTC had sued Ticketmaster and its parent company, Live Nation Entertainment, last September for hiding mandatory fees until the end of the transaction. Ticketmaster claims it complies with the FTC's all-in pricing rules.In response to the criticism, Ticketmaster stated, 'Since May 2025, tickets on Ticketmaster.com have displayed the full price upfront in line with the FTC's all-in pricing rule. We also provide explanations of fees during the purchase process and maintain a dedicated page with additional information.'Senator Elizabeth Warren from Massachusetts also criticized Ticketmaster, saying, 'Too many giant monopolies think the law doesn’t apply to them, and it’s American families who are forced to pay the price.'An ongoing federal trial is examining whether Ticketmaster operates an illegal monopoly in the live music industry. The company denies these allegations.

The US government has taken legal action against Illinois for attempting to regulate the rapidly growing online prediction market industry. The lawsuit, filed in Chicago federal court, claims that Illinois' efforts to shut down so-called designated contract markets regulated by the Commodity Futures Trading Commission (CFTC) are unlawful.Online prediction markets allow users to bet on a wide range of events, from Oscar winners to military conflicts. These platforms classify their offerings as 'event derivatives,' which fall under federal commodities law and are overseen by the CFTC. This classification allows them to operate in all 50 states for users 18 and older.Illinois introduced legislation earlier this year that would impose strict regulations on prediction markets, including an effective ban on sports-related trades, advertising restrictions, and age verification measures. The CFTC argues that this legislation intrudes on its exclusive authority to regulate national swaps markets.The lawsuit is the first by the CFTC to block state gaming regulators from policing operators of prediction markets. It cites cease-and-desist letters sent by the Illinois gaming board to companies like Kalshi, Polymarket, and Crypto.com, alleging violations of Illinois gambling laws.The federal lawsuit names Illinois Governor JB Pritzker and Illinois Attorney General Kwame Raoul as defendants. The case highlights the ongoing debate over the regulation of prediction markets, with some arguing they are essentially gambling operations and others seeing them as federally regulated financial exchanges.Congress is also considering federal measures to regulate prediction markets, including a bipartisan bill introduced by US senators that would ban federally regulated platforms from allowing wagers on sporting events.