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Trump Orders Iran Strikes, Ceuta Migrant Crisis

Wall Street Journal US Business •
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President Trump ordered fresh strikes on Iran, potentially beginning this weekend and lasting a few days, as he predicted the regime would eventually "peter out" if hit hard enough. This follows a breakdown in diplomatic efforts and a surprise attack by Iran on troops in Jordan, leading to a U.S. retaliatory strike.

Meanwhile, Spain regained control of Ceuta after thousands of migrants, mostly young men, overran the Spanish enclave. At least 57 people died attempting to swim around breakwaters separating Ceuta from Moroccan territory. Analysts suggest the incident may have been orchestrated by the Moroccan government, linking it to regional politics rather than solely immigration.

Separately, New York is suing prediction market Kalshi, seeking to ban its operations in the state without a gambling license and demanding forfeiture of up to $36 billion in penalties and disgorgement. Kalshi argues its markets are akin to Wall Street trading, overseen by the Commodity Futures Trading Commission, not state gambling regulations.