Anthony Zurcher

Well, you don't need a navy, a traditional navy, to attack tankers in the Strait of Hormuz because it's so narrow.

The Iranians can launch drones from their own territory.

They can fire missiles, which is what they've done.

They even have threatened shipping, not just in the Strait, but around it, in the Gulf and then outside of the Gulf.

And when we say the Iranian navy, we're thinking about the big ships like that frigate that was sunk in the Indian Ocean and others.

But Iran still has a bunch of speedboats, basically little zodiac boats, which are

in theory, could be armed with people with machine guns or mines or their own drones.

And that could present as much of a threat to shipping as a big traditional Navy ship.

So Iran still has a variety of different means to threaten shipping, which is exactly what they've been doing.

What?

I have no idea what that means.

You're going to have to translate that for me.

Well, it is illegal, first of all.

It is illegal for government officials to trade inside information.

But having said that, it is difficult to prove.

And in fact, since government officials have been included in these insider trading laws, which happened a number of years ago, no one has been prosecuted over it because you have to prove who...

made the trade and that they had that information ahead of time.

So it's a bad look, clearly.

And I think it's a bad look for this White House.

And they did, the White House put out a note, I believe it was last week, saying that no one on White House staff can place bets on these prediction markets, Kalshi and others like it.