Sponsored by Emerita Resources

Senators Banned from Prediction Market Trading

The U.S. Senate has unanimously passed a rule banning senators from trading on prediction markets, effective immediately, in a decisive response to mounting concerns over insider trading and unethical event contracts. The decision, enacted on April 30, targets platforms like Kalshi and Polymarket, where bets on elections, military actions, and even violent outcomes have raised ethical alarms.

This move follows a series of high-profile incidents that have intensified scrutiny of these platforms. On April 22, Kalshi suspended and fined one U.S. Senate candidate and two House candidates for placing bets on their own campaigns, a clear violation of the platform’s rules. Just a day later, on April 23, U.S. Army Special Forces soldier Master Sgt. Gannon Ken Van Dyke was arrested for allegedly using classified information to wager on Polymarket, netting nearly $410,000 from bets tied to the capture of Venezuelan leader Nicolás Maduro.

You can read more on the matter here.

What’s going on?

• Belgium Halts Nuclear Shutdowns, Targets 4 GW Capacity by 2040 (theDeepDive)

• Canadian manufacturing just saw largest monthly growth in 3 years: StatCan (Global)

• Peter Schiff Claims New Docs Reveal Improper IRS-Puerto Rico Deal Closed His Bank (theDeepDive)

• Bond investors brace for ‘volatile’ Federal Reserve transition as Powell stays on (FT)

• ‘Muhammad’ Now Third Most Popular Baby Name In Saskatchewan (theDeepDive)

• House Votes to Reopen Most of DHS, Ending Long Shutdown (WSJ)

• Wilkinson Named EU Ambassador as Canada Targets European Investment and Defense Ties (theDeepDive)

• Brazil Congress Shortens Bolsonaro Sentence in Defeat for Lula (Bloomberg)

• Poilievre: “You Doubled The Deficit” vs. Carney: “I Reduced The Deficit”—What Is The Truth? (theDeepDive)

What’s the latest?

• Energy: Shares of Precision Drilling Corp. fell about 7.5% after the company reported weaker-than-expected Q1 profits. Net earnings dropped to $17.4 million ($1.34/share), missing analyst estimates of $2.71/share despite revenue rising to $526 million. The profit decline was mainly due to higher compensation and depreciation costs, even as North American activity improved.

• Economy: Canada’s economy grew modestly in February, with real GDP rising 0.2%, driven mainly by a strong rebound in manufacturing. Data from Statistics Canada shows gains in wholesale trade and transportation, though declines in the public sector and recreation offset some growth. Early estimates suggest March was flat, pointing to a 1.7% annualized growth rate for Q1—slightly above expectations from the Bank of Canada.

• Markets: Canada’s main stock index, the S&P/TSX Composite Index, jumped nearly 400 points, led by gains in base metal stocks, while U.S. markets also moved higher. The Dow Jones Industrial Average rose over 600 points, with the S&P 500 and Nasdaq Composite also posting gains. Meanwhile, oil prices slipped slightly, gold surged, and the Canadian dollar strengthened.

• Student Loans: The U.S. Department of Education finalized new student loan rules under Donald Trump’s law, capping graduate borrowing at $20,500/year and $100K total, and professional degrees at $50K/year and $200K, while eliminating Grad PLUS loans and setting a $257,500 lifetime cap. Changes take effect July 1, 2026, with current borrowers exempt for up to 3 years, but reduced loan access may push some students toward private loans despite fewer protections and no forgiveness options.

• Politics: Ontario, led by Doug Ford, is expanding trade ties beyond the U.S. due to ongoing tariff tensions under Donald Trump. The province plans new global trade missions and infrastructure projects while promoting critical minerals and manufacturing strength. Although non-U.S. exports are rising, Ontario still relies heavily on the U.S., which takes about 72% of its exports.

Grande Portage PEA

The stock market and stuff

• Alamos Gold Sees Record Revenue On Declining Production In Q1 (theDeepDive)

• Bill Ackman’s ‘People’s Hedge Fund’ Drops 18% on Its First Day of Trading (theDeepDive)

• Apple's Cook, Meta's Zuckerberg among rumored bidders for Seattle Seahawks: report (SA)

• Kinross Posts Record Cash Flow as Gold Rally Lifts Q1 Earnings (theDeepDive)

• Cognizant to Cut 4,000 Jobs Under ‘Project Leap’ as IT Services Sector Reshapes for AI (theDeepDive)

In the juniors

• Great Pacific Gold Reports Drill Results and Updated Diamond Drill Program at Kavasuki, Wild Dog Project (JMN)

• Antimony Resources Expands Footprint as Soil Sampling Lights Up Ground South of Bald Hill (theDeepDive)

• Independence Gold Provides Drilling Update at the 3Ts Gold and Silver Project, British Columbia (JMN)

FULL DISCLOSURE: Emerita Resources is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Emerita Resources. The author has been compensated to cover Emerita Resources on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.