Luke Vargas

And finally, as Catholic cardinals prepare to convene at the Vatican next week to choose a new pope, bettors are signaling their enthusiasm to get in on the action. So far, $16 million and counting has been traded on leading prediction markets where users can buy and sell contracts that pay off if their holders accurately predict who becomes the next pontiff.

And finally, as Catholic cardinals prepare to convene at the Vatican next week to choose a new pope, bettors are signaling their enthusiasm to get in on the action. So far, $16 million and counting has been traded on leading prediction markets where users can buy and sell contracts that pay off if their holders accurately predict who becomes the next pontiff.

The journal's Alexander Osipovich told me that while platforms like Polymarket and Kalshi are hoping that the secretive papal selection becomes their next hit product, the story of betting on conclaves actually goes way back.

The journal's Alexander Osipovich told me that while platforms like Polymarket and Kalshi are hoping that the secretive papal selection becomes their next hit product, the story of betting on conclaves actually goes way back.

Well, if that doesn't dissuade you, Alexander reports that the papal prediction market may be risky for other reasons, with the lack of polling, public debates, or campaigning making it more likely that media attention and public perceptions affect odds as opposed to insider information. And that's it for What's News for this Friday morning. Today's show was produced by Kate Bullivant.

Well, if that doesn't dissuade you, Alexander reports that the papal prediction market may be risky for other reasons, with the lack of polling, public debates, or campaigning making it more likely that media attention and public perceptions affect odds as opposed to insider information. And that's it for What's News for this Friday morning. Today's show was produced by Kate Bullivant.

Our supervising producer is Sandra Kilhoff. I'm Luke Vargas for The Wall Street Journal. We will be back tonight with a new show. Otherwise, have a great weekend. Thanks for listening.

Our supervising producer is Sandra Kilhoff. I'm Luke Vargas for The Wall Street Journal. We will be back tonight with a new show. Otherwise, have a great weekend. Thanks for listening.

The U.S. and Ukraine finally seal a minerals deal. Plus, a journal report reveals that Tesla's board began searching for Elon Musk's successor a month ago. And we'll look at how the rush to get goods into the U.S. ahead of Trump's tariffs is distorting global trade and economic data.

The U.S. and Ukraine finally seal a minerals deal. Plus, a journal report reveals that Tesla's board began searching for Elon Musk's successor a month ago. And we'll look at how the rush to get goods into the U.S. ahead of Trump's tariffs is distorting global trade and economic data.

I'm Luke Vargas for The Wall Street Journal, and here is the AM edition of What's News, the top headlines and business stories moving your world today. After months of negotiations, several false starts and a testy White House meeting, the U.S. has reached a deal with Ukraine to give Washington access to the country's mineral wealth. Reporter Jane Litvinenko is in Kiev this morning.

I'm Luke Vargas for The Wall Street Journal, and here is the AM edition of What's News, the top headlines and business stories moving your world today. After months of negotiations, several false starts and a testy White House meeting, the U.S. has reached a deal with Ukraine to give Washington access to the country's mineral wealth. Reporter Jane Litvinenko is in Kiev this morning.

Jane, when we first reported on the negotiations around this deal back in February, Ukraine's president wasn't happy with some of the terms, namely that Ukraine would be forced to pay back hundreds of billions of dollars in U.S. aid. Volodymyr Zelensky also wanted security guarantees from the U.S. Where did this final agreement net out?

Jane, when we first reported on the negotiations around this deal back in February, Ukraine's president wasn't happy with some of the terms, namely that Ukraine would be forced to pay back hundreds of billions of dollars in U.S. aid. Volodymyr Zelensky also wanted security guarantees from the U.S. Where did this final agreement net out?

In terms of the economic side of this, I mean, are we expecting mining companies to be showing up in Ukraine right away? I mean, the war is still going on. I'm guessing this is kind of a long term thing.

In terms of the economic side of this, I mean, are we expecting mining companies to be showing up in Ukraine right away? I mean, the war is still going on. I'm guessing this is kind of a long term thing.

This deal had in the past raised a lot of questions about the state of the relationship between Kiev and Washington. We did hear from Treasury Secretary Scott Bessent last night talking about this deal. I want to play a clip of him, which I thought was somewhat telling.

This deal had in the past raised a lot of questions about the state of the relationship between Kiev and Washington. We did hear from Treasury Secretary Scott Bessent last night talking about this deal. I want to play a clip of him, which I thought was somewhat telling.

shifting pressure away from Kiev and toward Moscow?

shifting pressure away from Kiev and toward Moscow?