Photo: FEDERICO PARRA/AFP/Getty Images

Officials in Venezuela said on Wednesday that they have called a presidential election for April 22, per the AP, after negotiations between the ruling socialist party and opposition politicians broke down.

Why it matters: President Nicolas Maduro has already launched his campaign for a second term, and is currently the only candidate in a race the opposition says could be a sham, per the AP. Maduro's nearly five-year tenure has largely been marred by economic crises, food shortages and civil unrest.

The backdrop: This comes as the Trump administration is deciding whether to impose restrictions on Venezuelan crude oil exports and the exportation of U.S. refined products to the country. Secretary of State Rex Tillerson, who made the announcement this week during his a seven-day tour in Latin America and the Caribbean, said it’s part of an attempt to punish the Maduro’s regime, which he said has turned Venezuela into a dictatorship.

Go deeper: Venezuela's economic collapse, by the numbers

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"Hamilton" is a streaming hit for Disney+

Data: Google Trends; Chart: Andrew Witherspoon/Axios

The debut of "Hamilton" on Disney+ last Friday sent downloads of the app soaring over the weekend.

Why it matters: With theaters closed until 2021, "Hamilton" is the biggest litmus test for whether Broadway will ever be able to successfully transition some of its iconic hits.

Wall Street is no longer betting on Trump

Illustration: Sarah Grillo/Axios

Betting markets have turned decisively toward an expected victory for Joe Biden in November — and asset managers at major investment banks are preparing for not only a Biden win, but potentially a Democratic sweep of the Senate and House too.

Why it matters: Wall Street had its chips on a Trump win until recently — even in the midst of the coronavirus-induced recession and Biden's rise in the polls.

With new security law, China outlaws global activism

Illustration: Eniola Odetunde/Axios

The draconian security law that Beijing forced upon Hong Kong last week contains an article making it illegal for anyone in the world to promote democratic reform for Hong Kong.

Why it matters: China has long sought to crush organized dissent abroad through quiet threats and coercion. Now it has codified that practice into law — potentially forcing people and companies around the world to choose between speaking freely and ever stepping foot in Hong Kong again.