Squawk Pod: The Top State for Business & debating prediction markets - 07/09/26 | Audio Only

Summary

The episode covers US-Iran military strikes, SK Hynix's massively oversubscribed US IPO, a split Federal Reserve hinting at a possible rate hike, a debate on prediction markets featuring Kalshi advisor Dean Heller, and CNBC's 2026 Top States for Business ranking where Ohio takes the number one spot.

• US and Iran exchange strikes, with the US targeting military logistics to protect Hormuz shipping, while both sides step back from full-blown war.
• SK Hynix's US ADR listing is over seven times oversubscribed, potentially raising $25 billion amid surging AI memory chip demand.
• Fed minutes reveal policymakers are split; the dot plot leans toward one rate hike this year, though new chair Warsh is changing communication to 'seconds'.
• Former Senator Dean Heller defends prediction markets (Kalshi) as transparent, peer-to-peer, and consumer-friendly, dismissing criticisms from gaming industry.
• CNBC's 20th annual Top States for Business study names Ohio #1, followed by North Carolina, Virginia, Texas, and Minnesota; Ohio Governor Mike DeWine credits Jobs Ohio, low taxes, and workforce culture.