Live from NPR News in Washington, I'm Rylan Barton. Iran fired more missiles at Israel and Gulf Arab

states today. That comes even as President Trump claims the threat from the country has been nearly

eliminated. Iran's strikes and control of the Strait of Hormuz have disrupted the world's energy

supplies. Britain held a call today with nearly three dozen countries about how to reopen the

straight once the fighting is over. The U.S. is also in the midst of President Trump's trade war,

and today marks a milestone in that campaign. NPR's Scott Horsley has more on where things stand.

It was exactly a year ago today that President Trump ordered double-digit tariffs on just about

everything the U.S. imports.

He dubbed it Liberation Day, and he promised those tariffs would usher in a new golden age of

stronger factories, lower prices, and a smaller trade deficit. Well, a year later, none of that has

happened. U.S. factories have lost 89,000 jobs in the last year. Inflation is higher, not lower than it was a year ago.

And the trade deficit actually widened in 2025. NPR's Scott Horsley reporting, the Trump

administration is suing Illinois, Connecticut, and Arizona for the exclusive right to regulate

prediction markets. As NPR's Bobby Allen reports, the industry has set off debates about

profiting off war and insider trading. The Commodity Futures Trading Commission has taken the rare

step of launching lawsuits against three states. It argues sites like Kalshi and Polly Market

should not be regulated as gambling businesses. The question of whether prediction market sites are

gambling or what's known as a

futures contract has set off more than two dozen lawsuits pitting state gaming officials against

the Trump administration. It's the latest legal development over an issue expected to go all the way

to the Supreme Court. Lawmakers in Washington have been expressing alarm over the sites where people

can bet thousands of dollars on military strikes in Iran,

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