Trump's 'Project Freedom' Fans Tensions | Balance of Power: Late Edition 05/04/2026

"Balance of Power: Late Edition" focuses on the intersection of politics and global business. On today's show, Commodity Futures Trading Commission Chairman Michael Selig weighs in on prediction markets, insider trading enforcement and the outlook for crypto legislation. Port of Los Angeles Executive Director Gene Seroka says shipping firms are taking a "wait and see" approach to US efforts to reopen the Strait of Hormuz. Representative Adam Smith (D-WA), Ranking Member of the House Armed Services Committee, criticizes the administration's Iran strategy. They all speak from the Milken Institute Global Conference in Beverly Hills, California. (Source: Bloomberg)