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Europe
The Guardian

Prediction markets surge in US as public health advocates call for support to combat gambling

America's Justin Gaethje celebrates after defeating Georgia's Ilia Topuria during the UFC event on the South Lawn of the White House in Washington DC. Photograph: Saul Loeb/AFP/Getty ImagesView image in fullscreenAmerica's Justin Gaethje celebrates after defeating Georgia's Ilia Topuria during the UFC event on the South Lawn of the White House in Washington DC. Photograph: Saul Loeb/AFP/Getty ImagesUS newsPrediction markets surge in US as public health advocates call for support to combat gamblingPlatforms like Kalshi and Polymarket operating in areas with limited resources for people with gambling problems Public health resources across the US are failing to keep pace with the rapid growth of online gambling, problem health advocates warned, after Donald Trump endorsed the controversial nationwide surge of prediction markets. Prediction market platforms, where users can wager on everything from Tony Award winners to World Cup goals, have pushed betting even further into American life. Leading brands like Kalshi marketed aggressively around the NBA finals. And Polymarket’s logo was plastered across the cage hosting the UFC fights at the White House last Sunday. The contested push of such platforms across the US, including in states that have long prohibited gambling, mean they are now operating – and heavily advertising their services – in markets with limited public resources for those who develop problems with gambling. “When you expand access and availability and normalization of it, you’re going to have more participation,” said Timothy Fong, an addiction psychiatrist and gambling researcher at UCLA. “When you have more participation and engagement in risky products, you’re going to have more problems, you’re going to have more side effects.” Since the US Supreme Court struck down a longstanding federal ban on sports betting in 2018, the digital gambling industry has boomed. Sports betting now legal in 39 states and Washington DC. And more recently, prediction market platforms have rapidly risen in prominence. Companies like Polymarket and Kalshi argue they are not gambling operators, which are typically regulated – and require approval to operate – on a state-by-state basis. Instead, they argue they offer “event derivatives”, overseen at a federal level by the US Commodity Futures Trading Commission (CFTC). That distinction has so far allowed prediction markets to operate across much of the country, including in states like Utah and Hawaii, where gambling has long been illegal. More than a dozen lawsuits filed in several states are challenging that interpretation, with regulators and lawmakers arguing the platforms should fall under state gambling laws. Trump’s administration has been sympathetic to the industry’s argument. And the US president weighed in himself last last month, claiming it to be “critically important” that the CFTC maintain “exclusive authority” over prediction markets, rather than states. “It is a major Industry, and we must protect it.” A CFTC spokesperson said: “Through the Commodity Exchange Act, Congress gave exclusive jurisdiction to the CFTC for regulating swaps, including prediction markets, to ensure a federal framework and prevent a patchwork of conflicting state laws.” They added: “The CFTC will defend that jurisdiction against overzealous states that attempt to bypass federal law.”

Prediction markets surge in US as public health advocates call for support to combat gambling
Europe
The Guardian

Fed governor Lisa Cook faced $1.3m in legal and security fees after Trump’s bid to fire her

Lisa Cook walks outside the US supreme court in Washington DC on 21 January 2026. Photograph: Nathan Howard/ReutersView image in fullscreenLisa Cook walks outside the US supreme court in Washington DC on 21 January 2026. Photograph: Nathan Howard/ReutersFederal ReserveFed governor Lisa Cook faced $1.3m in legal and security fees after Trump’s bid to fire herCook is at the center of a supreme court case focused on whether Trump’s firing of her from the Fed board was legal The Federal Reserve governor Lisa Cook faced more than $1.3m in legal and security fees after coming under attack from the Trump administration, according to ethics disclosures that were filed on Wednesday. The White House targeted Cook last summer as Donald Trump ramped up his unprecedented campaign to push the Fed to cut interest rates. Bill Pulte, the director of the Federal Housing Finance Agency who is set to become acting US intelligence chief on Friday, accused Cook of mortgage fraud. On social media, Pulte accused Cook of misleading lenders by listing a second home as her primary residence, which would get her a better mortgage rate. Cook was appointed by Joe Biden in 2022, becoming the first Black woman to serve on the Federal Open Market Committee (FOMC). Her term is set to end in 2038. Trump fired Cook from her role on the FOMC, where she was one of 12 voting members who set interest rates eight times a year. Cook denied the accusations, accusing the administration of “cherrypicking” discrepancies to remove Cook for political reasons. A federal court temporarily reinstated Cook, though her firing is still the center of a case before the US supreme court, which has yet to rule on whether the firing was legal. In a hearing in January, justices seemed skeptical over the brusque way Trump fired Cook. The filing shows that two non-profit organizations, State Democracy Defenders Fund and Contina Impact reimbursed Cook for more than $1m for legal and security services. The supreme court case will ultimately test how the high court views the Fed’s independence from the White House. Congress created the bank in 1913 with a unique structure that protects it from being influenced by politics, including not receiving funding from Congress and long terms for appointed officials. The decision on Cook’s supreme court case, which is expected to be released before the end of June, will settle how much protection the Fed will have from the White House’s wrath. Economists widely agree that an independent central bank uninfluenced by politics is essential for maintaining a stable economy. While past presidents have refrained from vocally criticizing the Fed, Trump in his second term has been unafraid of voicing his fury toward the Fed for not lowering interest rates.

Fed governor Lisa Cook faced $1.3m in legal and security fees after Trump’s bid to fire her
North America
Yahoo Finance

Schwab Plans S&P 500 Prediction Markets as Event Trading Moves Mainstream

Charles Schwab (NYSE: $SCHW ) is preparing to enter the prediction-markets race with a product built around the S&P 500, adding another large brokerage name to a category already pulling in crypto-native platforms, retail trading apps and exchange operators. The company is working with Cboe Global Markets on yes-or-no contracts tied to the performance of the S&P 500, according to reports citing people familiar with the plan. The contracts would function more like binary options than the futures-style event contracts commonly associated with Kalshi or Polymarket, paying a fixed amount if the index finishes above or below a preset level and nothing if it does not. The rollout is expected to reach Schwab customers in the coming months. Schwab and Cboe are also discussing a related structure using Cboe’s Plus Zone feature, which could allow partial payouts when a trade lands close to the outcome even if it does not hit the exact target. For Schwab, the planned launch puts prediction markets inside a more traditional market wrapper. The firm is expected to keep the initial focus on financial benchmarks, rather than contracts tied to politics, sports or entertainment. CEO Rick Wurster had already signalled earlier this year that Schwab would “likely have prediction markets,” while drawing a line around the type of events the brokerage wanted to offer. The timing also shows how quickly the category is moving from crypto-adjacent speculation into mainstream brokerage infrastructure. Coinbase (NASDAQ: $COIN ) and Robinhood (NASDAQ: $HOOD ) have both expanded into prediction markets, while Kalshi and Polymarket helped turn event contracts into one of the most-watched trading themes after the 2024 election cycle. Schwab’s version may look more like an options product than a crypto market, but the direction is similar: traders are getting simpler ways to express views on outcomes, indexes and macro events.

Schwab Plans S&P 500 Prediction Markets as Event Trading Moves Mainstream
Asia
The Hindu BusinessLine

Energy Edits Newsletter for June 21, 2026

The fortnight saw that structural realignment of the world’s energy mix continues to accelerate. While the initial US-Tehran agreement promises to unwind critical oil sanctions and reshape global maritime logistics, India’s Biofuel Mandate -- Ethanol Blended Petrol Programme -- scales rapidly, forcing the automotive sector to accelerate flex-fuel deployment. The Finance Ministry issued a series of notifications exempting petrol with an ethanol blend of 22 per cent to 30 per cent from Central Excise Duty. However, the Oil Ministry noted that these higher blends will not be rolled out until extensive testing and stakeholder consultations are complete. businessline bureau OMCs received ₹1.23 lakh crore support to hold fuel prices. Fertiliser Ministry seeks double the subsidy allocation. businessline bureau On June 12, Indian External Affairs Minister S. Jaishankar phoned U.S. Secretary of State Marco Rubio to register a “strong protest” about the killing of three Indian seafarers by U.S. strikes in the Gulf of Oman on June 9. Media reports Iran on Saturday said that it closed the Strait of Hormuz because of Israel’s attacks in Lebanon and warned that while negotiators were going to Switzerland for talks with the United States on their interim agreement, not much likely will happen if the fighting doesn’t stop. US President Donald Trump, in response, threatened to impose US tolls in the crucial waterway if a final deal with Iran isn’t reached in 60 days, saying the money would be for “services rendered as the Guardian Angel to the countries of the Middle East”. His social media post underscored that the agreement calls for toll-free travel for 60 days. Media reports (AP-PTI) Electricity bills set for reset; CEA proposes roadmap for fixed charges from users. Rishi Ranjan Kala Policy uniformity, public trust vital for India’s ethanol blending success. Richa Mishra Bulk users diverted 3.50 lakh tonnes of diesel sales to retail outlets in May forcing Govt to cap sales. Rishi Ranjan Kala Where to put your green money: AP, Uttar Pradesh and Rajasthan stand out in India’s energy transition. Rishi Ranjan Kala The chip industry requires huge, uninterrupted power and water supply. India’s energy and chip policies need to be in sync. Richa Mishra In the latest episode of Energonomics, Richa Mishra, explores the future of Indian energy security with a true titan of the industry — Dr. A.K. Balyan. Dr Balyan, a pioneer who launched India’s first commercial Coal Bed Methane project, is currently Secretary General of the Coal Gasifiers Association. He breaks down the reality of India’s 2030 coal gasification mission. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

Energy Edits Newsletter for June 21, 2026
Asia
The Hindu BusinessLine

60% surveyed professionals say AI now central to HR operations: Report

Artificial intelligence (AI) is becoming central to human resource management, with 60 per cent of professionals surveyed saying it is now a top focus across HR functions, while another 15 per cent reported its growing importance in areas such as recruitment and onboarding, according to a survey-based report. The 'AI As The New HR Priority -- Efficiency, Cost and Workforce Impact' report is based on a survey among 1,811 HR professional across industries conducted between May 7-31. Over 60 percent of professionals believe AI is now a top priority across HR functions, while another 15 percent say it is becoming a growing priority in recruitment, onboarding, routine HR operations, workforce staffing, and HR solutions. This is revealed by the Genius HRTech DigiPoll Survey, ‘AI as the New HR Priority - Efficiency, Cost, and Workforce Impact. According to the findings of the report, 60 per cent of respondents identified improving efficiency and productivity as the primary reason for AI adoption, followed by 20 per cent who believe organisations are leveraging AI to reduce costs and optimise workforce management. It found that AI is already transforming day-to-day HR operations, with 42 per cent of respondents reporting significant improvements in the speed and efficiency of HR processes and another 29 per cent noting moderate gains, indicating that automation is making recruitment, onboarding and employee services faster and more seamless. Beyond efficiency, AI is also influencing workforce structures as 42 per cent of professionals believe AI is reducing reliance on manual or repetitive roles, while 37 per cent feel it is enabling smarter workforce planning, signalling a shift towards technology-enabled, skill-first organisations. "Successful AI adoption is not about replacing people, it is about empowering them. Businesses that combine intelligent automation with human expertise, transparency and ethical governance will build stronger, more resilient workplaces," Genius HRTech Chairman R P Yadav said. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

60% surveyed professionals say AI now central to HR operations: Report
Asia
The Hindu BusinessLine

India, US to hold ministerial-level trade pact talks this week

US Trade Representative Jamieson Greer and Commerce and Industry Minister Piyush Goyal will hold two-day talks this week on the first phase of the bilateral trade agreement. "For the US trade deal talks, tomorrow my counterpart is coming to Delhi," Goyal told reporters in Mumbai. The meeting followed chief negotiator-level discussions on the pact held earlier this month (June 2-4) here in the national capital. Commerce Secretary Rajesh Agrawal has recently stated that the discussions between the two ministers are expected to be centred around giving final touches to the framework deal. On June 5, Goyal said India and the US are moving towards closing all the open ends of the interim trade agreement, and both sides are likely to execute the "very, very vibrant" first phase of the BTA by the middle of next month. The 10 per cent temporary tariff imposed by the US on all its trading partners on February 24, 2026, for 150 days will expire on July 24. After that, the MFN (most favoured nation) tariffs will come into force on goods imported by the US. The temporary tariff is levied over and above the MFN duty. So before July 24, the US has to put in place a new tariff regime. For that, the US is conducting two Section 301 investigations against a number of countries, including India. This is the only legal mechanism through which the US can impose new tariffs of any magnitude. In March, the US Trade Representative (USTR) launched two unilateral Section 301 of the Trade Act of 1974 investigations against a number of countries, including India, over excess capacity and failures to eradicate forced labour in global supply chains. On June 2, the USTR proposed imposing 12.5 per cent tariffs on 54 countries, including India, for allegedly failing to prohibit the import of goods produced with forced labour. The measure remains a proposal and has not yet been finalised. Interested parties can submit requests to appear at hearings and summaries of testimony by June 22. The USTR is scheduled to hold hearings on July 7. On February 20, the US Supreme Court ruled against US President Donald Trump's sweeping reciprocal tariffs, which were imposed under the 1977 International Emergency Economic Powers Act (IEEPA). India was facing a 50 per cent tariff. Because of the ruling, the US has to replace the sweeping reciprocal tariffs with temporary duties.

India, US to hold ministerial-level trade pact talks this week
North America
CNBC Finance

SNAP restrictions could change what shoppers buy — and food giants are watching

The growing push to restrict Americans from using federal food aid to buy certain processed or sugary products is creating a new challenge for some of the biggest U.S. food and beverage companies. The U.S. Department of Agriculture as of May had approved food restriction waivers for Supplemental Nutrition Assistance Program benefits in 23 states, affecting roughly one-third of all SNAP participants, according to Numerator. The research firm estimates the restrictions could reduce food and beverage sales by as much as $830 million this year as consumers either shift spending to approved products or cut back overall. Kroger CEO Greg Foran said on the company's first-quarter earnings call on Thursday that customers remain under pressure in part due to reduced SNAP benefits, as well as higher gas prices, "squeezing budgets." "Customers are managing spend carefully and shopping with real intent," Foran said. Most waivers focus on limiting consumption of sugar-sweetened beverages and confectionery products, signaling a targeted approach rather than broad food restrictions. As the movement spreads, it's forcing major packaged food companies to monitor shopper behavior and assess whether they need to remake product lines — though many of them have already been changing what they offer after consumer habits shifted in recent years. Iowa recently became the first state to codify elements of the "Make America Healthy Again," or MAHA, movement into law, approving legislation that targets artificial food dyes, ultra-processed foods in school and purchases made through SNAP. "Altogether, this bill advances the health and wellness for every Iowan today and for generations to come," said Iowa Gov. Kim Reynolds when she signed the measure last month. She added the law helps "refocus federal food assistance programs on the actual purpose for which they were created: helping low-income families afford nutritious food." The law bans several synthetic dyes, including Red 40 and Yellow 5, from most K-12 school meals and vending machines, while also restricting SNAP recipients from using benefits to buy products such as soda and candy. At a Goldman Sachs conference in May, Hershey said it has researchers in Texas conducting in-store interviews with shoppers who receive SNAP benefits to understand how purchasing behavior is shifting under new restrictions in the state. "We've observed some consumer uncertainty at the register as new restrictions take effect," a Hershey spokesperson told CNBC. "We anticipate this will improve as store execution improves, rules become clearer, and SNAP users can plan and budget with more certainty." The company is studying everything from product substitutions to budget tradeoffs, offering an early glimpse into how major food manufacturers are preparing for a potentially significant shift in consumer demand.

SNAP restrictions could change what shoppers buy — and food giants are watching
Asia
The Hindu BusinessLine

Open-market buyback set to surge as cash returns hit 3-year high

The Securities and Exchange Board of India (SEBI) has brought back the more flexible stock exchange route for open-market buybacks by listed companies at a time when India Inc is stepping up capital returns to shareholders, with buyback announcements this year already surpassing the full-year totals of the previous two years. Companies have announced buybacks worth nearly ₹25,000 crore so far in 2026, compared with ₹19,175 crore in 2025 and ₹13,539 crore in 2024, according to Prime Database. The figure is already at its highest since 2023, when companies announced buybacks worth ₹48,452 crore before the exchange route was phased out. Unlike the existing tender offer route, where companies repurchase shares at a fixed price during a specified offer period, the stock exchange route allows purchases directly from the market at prevailing prices over a defined period. “SEBI’s decision to allow two buybacks in a year aligns the regulations with the Companies Act Amendment Bill, 2026 and provides listed companies greater flexibility in capital management, which is critical when India Inc has already announced buybacks worth ₹25,000 crore in 2026 so far, the highest since 2023,” said Makarand M Joshi, Founder Partner at MMJC & Associates. Pulkit Sukhramani, Partner at JSA Advocates & Solicitors, said: “Companies seeking to consolidate ownership and enhance stock value may find the open market buyback route particularly advantageous. Buybacks conducted through stock exchanges not only reduce administrative burdens but also provide greater flexibility regarding both timing and pricing.” SEBI’s board on Friday approved reintroducing the stock exchange route for open-market buybacks from August 1 after phasing it out over the past three years. While 22 companies used the exchange route in 2022 and seven did so in 2023, every buyback announced in 2024, 2025 and 2026 has been through the tender offer route. The earlier tax framework had made the mechanism unattractive since investors participating in buybacks were taxed at dividend tax rates, making the route less attractive than selling shares in the secondary market, where capital gains tax applied. Subsequent changes to the tax framework restored capital gains treatment for most investors participating in buybacks, removing one of the key reasons the mechanism had fallen out of favour. The mechanism returns with tighter safeguards, including a shorter execution window of 66 working days instead of six months, a requirement to complete at least 40 per cent of the proposed buyback during the first half of the offer period, enhanced disclosures and restrictions on purchases from promoters and promoter group entities. Companies will also have the option of undertaking buybacks without appointing a merchant banker, with the related responsibilities being shared among the company, its compliance officer, statutory auditor, secretarial auditor and stock exchanges. The pipeline includes Wipro’s ₹15,000-crore buyback, Bajaj Auto’s ₹5,633-crore offer and Zydus Lifesciences’ ₹1,100-crore proposal, along with offers from Cyient, TeamLease Services, Kajaria Ceramics, Rolex Rings, Dhanuka Agritech, Cybertech Systems and Gandhi Special Tubes. Market participants said the revival gives companies announcing buybacks after August an additional execution option, although it is too early to assess how widely the exchange route is adopted. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

Open-market buyback set to surge as cash returns hit 3-year high
Asia
The Hindu BusinessLine

India restores 34 million hectares of degraded land, boosts rural livelihoods

Nearly 34 million hectares of degraded land have been restored across the country over the last 12 years, improving agricultural productivity and creating better livelihood opportunities, Nitin Khade, Joint Secretary, Department of Land Resources, Ministry of Rural Development said on Saturday. Speaking at the 5th NAREDCO Mahi Real Estate Convention 2026 in New Delhi, Khade stressed the need for sustainable urbanisation while strengthening rural economies and conserving natural resources. Highlighting the work undertaken by the Department of Land Resources, Khade said that “nearly 34 million hectares of degraded land have been restored over the last twelve years, improving agricultural productivity and creating better livelihood opportunities.” He said that despite ongoing efforts to make cities more liveable, several challenges continue to persist, requiring alternative development models that support both rural and urban growth. Expressing concern over emerging water challenges and changing climatic conditions, Khade underlined the need for water conservation measures across urban and rural regions. He urged the real estate industry to contribute more actively to water conservation and rural development initiatives, saying sustainable growth would require “a balanced approach benefiting both cities and villages.” The remarks came during a panel discussion on “Global Pathways to Sustainable Social Development and Self-Sufficient Cities” at the convention held at Yashobhoomi, New Delhi. Former Housing and Urban Affairs Secretary Durga Shankar Mishra said future cities must be self-sufficient in critical resources while remaining inclusive and accessible. “Sustainability is fundamentally about ensuring the long-term survival and prosperity of cities,” Mishra said. He added that future cities must be self-sufficient in “water, energy and human capital” while remaining inclusive for all sections of society. “Cities are for the people. They must provide quality housing, robust infrastructure, efficient mobility and a better quality of life for every citizen,” he said. Mishra also highlighted the role of government programmes such as the Swachh Bharat Mission, AMRUT and Smart Cities Mission in reshaping India’s urban landscape over the past decade. NAREDCO Mahi Chairperson Ananta S Raghuvanshi said sustainability has become a necessity amid rapid urbanisation and growing pressure on infrastructure. “Sustainability today is no longer an option but a necessity,” she said, adding that discussions around sustainability have now moved “to the centre stage.”

India restores 34 million hectares of degraded land, boosts rural livelihoods