Business news today is defined by legal and strategic battles over who gets to profit, and under what rules. In New York, regulators are escalating the fight over prediction markets by suing Kalshi, arguing its event-based contracts amount to unlicensed gambling rather than legitimate financial products. In Britain, Sainsbury’s is retreating further toward its core grocery business with a £120 million sale of Argos, a move that sharpens questions about jobs and the future of general merchandise retail. In Australia, Brisbane airport rail operator Airtrain is taking Queensland to court, claiming the state’s ultra-cheap 50-cent fare policy has unfairly eroded its revenue. Corporate earnings also reflected pressure beneath headline growth, as Maruti Suzuki posted a profit decline despite surging revenue, with higher raw material costs squeezing margins. And in trade, Canada moved to shield domestic producers with a temporary 25% tariff on some imported wood cabinets and vanities.