The chief U.S. regulator of increasingly popular prediction markets says he'll treat them as financial products, arguing that most people aren't using prediction markets for "entertainment."
Why it matters: Prediction markets like Kalshi and Polymarket are soaring in popularity, and most of their trading volume is on sports — fueling a growing fight with state gambling regulators.
This year's Upfronts have been dominated by big brands leaning into fandom around their legacy entertainment franchises and sports as a way to stand out in a field becoming crowded by Big Tech.
Why it matters: History, familiarity and trust are business values that Silicon Valley can't easily buy.
Weight-loss drugs are reshaping bridal retail — and David's Bridal is responding to brides' growing "fit anxiety" with a new guarantee.
Why it matters:GLP-1 medications are changing how consumers shop for wedding attire, forcing retailers to adapt to rapidly shifting body sizes, compressed shopping timelines and a surge in last-minute alterations.
Yale University has long been a private markets trailblazer and ally, thanks to its alts-heavy endowment model.
Now it may become a taxblazer, much to the private market's chagrin.
Driving the news: Yale's Budget Lab, a nonpartisan policy research center, recently published an analysis that argues that changing the tax treatment of carried interest could generate over $100 billion in new federal revenue over the next decade.
Consumer prices continued to surge in April, led by higher energy prices, the government said on Tuesday.
Why it matters: The April report shows that inflationary pressures tied to the Iran war are seeping into consumer prices, making it difficult for the Federal Reserve to cut interest rates just as President Trump's pick is set to take the helm of the central bank.
Time is introducing a suite of digital games on its website, including a fantasy prediction market and jigsaws, as it prepares to launch a registration wall, executives exclusively tell Axios.
Why it matters: Games have become a popular engagement tool for publishers, helping them drive repeat visitors and time spent as referral traffic becomes less reliable and competition for attention intensifies.
CNN on Tuesday launched its new weather app in the U.S., marking its first stand-alone lifestyle product since management overhauled digital strategy last year.
Why it matters: CNN's ability to successfully build audiences across its lifestyle-focused products, like CNN Weather, will be a major factor in determining how fast it can transition to becoming a digital-first news organization.
The Strait of Hormuz has been closed for 10 weeks now — a once unthinkable shock to the world economy — yet global oil prices aren't nearly as high as many people had expected.
Why it matters: The relatively restrained price movement helps explain why the global economy is holding up so far.
Amazon is pushing deeper into "instant retail" with a new 30-minute delivery service, escalating its speed race with Walmart, Target and delivery apps.
Why it matters: Retailers once competed to deliver in days, then hours. Now the race is to fulfill last-minute orders almost instantly — reshaping how consumers shop for everyday items.
President Trump is meeting with his national security team Monday to discuss the way forward in the Iran war, including possibly resuming military action, after negotiations with the country deadlocked Sunday, three U.S. officials said.
Why it matters: U.S. officials say Trump wants a deal to end the war, but Iran's rejection of many of his demands and refusal to make meaningful concessions on its nuclear program puts the military option back on the table.
Byron Allen, a media entrepreneur known for aggressively trying to roll up various media assets, on Monday announced a deal to buy a majority stake in BuzzFeed.
Why it matters: The deal gives the 20-year-old digital publisher a much-needed lifeline. Without a buyer, the company likely would've been forced to file for bankruptcy.
