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President Trump announces a new plan for opening the Strait of Hormuz.
But traders seem unconvinced.
Plus, GameStop makes a massive play for e-commerce giant eBay.
And the journal reveals why most prediction market bets end in a loss.
Calci and Polymarket have pitched themselves as this everyman's platform,
where anyone can monetize their beliefs and win.
But what they don't mention is that you'll probably lose.
It's Monday, May 4th.
I'm Daniel Bach for The Wall Street Journal, filling in for Luke Vargas.
And here is the AM edition of What's News, the top headlines and business stories moving your world today.
President Trump has said the U.S.
Would begin guiding commercial ships out of the Strait of Hormuz today in an effort to unblock the waterway.
But critics point to how the plan doesn't involve naval escorts.
Instead, Project Freedom allows for countries,
insurance companies, and shippers to coordinate in a bid to get traffic flowing through the strait.
For now, though, oil traders appear unconvinced it will resolve a supply crunch that has sent prices soaring.