Good morning. The White House is at loggerheads with Congress over one of President Trump’s signature housing proposals, a ban on Wall Street investors buying single-family homes.

• Pressure campaign: Trump officials pressured congressional Republicans in recent weeks to include the investor ban as an amendment in either of the major housing bills currently winding through the House and the Senate, according to people familiar with the matter.
   
• Resistance: But lawmakers in both chambers have resisted adding the investor ban, which traditional free-market advocates, Wall Street executives and the home-builder industry generally oppose. Any such amendment could derail the bipartisan momentum behind both housing packages that have been in the works for months. The House is set to vote on its bill as soon as Monday, where it is expected to pass with bipartisan support. The Senate passed a similar bill last fall.
   
• Differing approaches: Lawmaker pushback to Trump’s investor ban shows how the White House and Congress favor different approaches to addressing America’s housing crisis, which sent sales last year to a 30-year low. Home values have soared by more than 50% since 2019 and are pricing out many first-time buyers. 
   
• Supply and demand: The bills in Congress include measures to spur more housing development, from streamlining the building approval process to encouraging new construction near transportation hubs. Trump, however, has expressed concerns about boosting housing supply because he doesn’t want to see home prices fall. Trump announced his own housing proposals this year that were more focused on stimulating demand, including instructing the government-backed mortgage-finance companies to buy $200 billion in mortgage bonds in an effort to lower mortgage rates.

Polymarket sues Massachusetts to stop state shutdown.

Polymarket has sued the Massachusetts Attorney General’s office and the state’s gaming commission to block them from applying the state’s gambling law to the prediction markets operator, Risk Journal reports. 

The company said the Commodity Futures Trading Commission has sole regulatory authority over the so-called event contracts it offers, employing an argument that prediction markets operators have used elsewhere in seeking to stop state gambling laws from interfering with their business.

The lawsuit follows a ruling Friday in which a Massachusetts state court upheld an injunction against Kalshi, one of Polymarket’s biggest competitors, a decision that demonstrated the state’s willingness to use its law to shut federally authorized markets, Polymarket’s lawyers argued.

See also: 

• As Prediction Markets Boom, the CFTC Is Losing Lawyers in Its Flagship Office
• Super Bowl Halftime-Show Bets Fuel Questions About Inside Knowledge

• A trial accusing former coal executive Charles Hobson of participating in a conspiracy to bribe Egyptian government officials in exchange for contracts kicked off on Monday in Pittsburgh, Risk Journal reports.
   
• A lawsuit that drugmaker Novo Nordisk filed on Monday against telehealth firm Hims & Hers shows how fierce the maneuvering over the booming obesity-drug market has become. In the lawsuit filed in a federal court in Delaware, Novo Nordisk accused Hims & Hers of violating the patents covering its Ozempic and Wegovy drugs used for weight loss by trying to sell custom-made versions of those medicines.
   
• When Nexstar Media Group in August announced a legally thorny deal to acquire smaller rival Tegna for $6.2 billion, one big question was whether President Donald Trump would support the transaction or oppose it. Initially, Trump signaled he would stand in the way of the deal, but over the weekend he changed his tune and he now says he fully supports it. That has sent the stocks of both companies soaring.
   
• Chinese electric vehicle giant BYD is suing the U.S. government over its tariff policy, which affected the automaker’s cars, Risk Journal reports. 
   
• The Trump administration is planning this week to repeal the Obama-era scientific finding that serves as the legal basis for federal greenhouse-gas regulation, according to U.S. officials, in the most far-reaching rollback of U.S. climate policy to date.
   
• The White House is at loggerheads with Congress over one of President Trump’s signature housing proposals, a ban on Wall Street investors buying single-family homes.

Immigration raids in South Texas are starting to hit the economy.

At Monte Cielo, a new housing development in this growing region of South Texas, half-built homes are sitting empty. On a recent day, just a few workers hovered behind temporary wrap tacked to wall frames.

The quiet scene comes after federal immigration agents have hit the development repeatedly, carrying out at least half a dozen raids there in recent months, builders said. The most recent was a few weeks ago. Some eight workers were arrested in a chaotic scene of laborers running away from federal vehicles racing through the three-street subdivision at high speed, the builders said.

South Texas is a heightened example of what contractors are facing across the country in areas where U.S. Immigration and Customs Enforcement activity has intensified. Home builders in Minnesota relayed similar experiences of raids picking up whole work crews, even those with legal documentation, said Grace Keliher, executive vice president of the Builders Association of Minnesota. Nationally, a third of commercial contractors reported being affected by immigration-enforcement actions in the past six months, according to a January report by trade group Associated General Contractors of America.

• Air Canada is suspending service to Cuba due to a shortage of aviation fuel on the island.
   
• U.S. forces chased down an oil tanker fleeing the quarantine around Venezuela all the way to the Indian Ocean, Secretary of Defense Pete Hegseth said Monday, a monthlong pursuit that ended in the ship’s capture.
   
• Keir Starmer entered Downing Street in 2024 with a large majority and a mandate to bring calm to British politics after years of crises and wild policy shifts. Just 19 months later, Starmer is one of Britain’s least popular leaders in modern times and is hanging to power by a thread.
   
• Israel’s government is deepening a push by far-right ministers to expand its authority and settlements in the West Bank, giving it broad new powers in a territory that would make up the heart of any future Palestinian state.
   
• The Trump administration in December said it would invest $1.25 billion in a restive, resource-rich province of Pakistan as part of a strategic effort to counter China’s dominance in critical-mineral supply chains. Within weeks, the perils of the plan became evident.
   
• The European Union proposed its 20th sanctions package targeting Russia, introducing a full ban on maritime services for Russian crude oil and increasing pressure on the shadow fleet, banking system and cryptocurrency platforms, Risk Journal reports.
   
• Landing a white-collar job is getting so tough that candidates—not companies—are paying recruiters to match them with positions.

Join us in New York on March 4 for the inaugural Dow Jones Risk Journal Summit. Speakers include Kaitlin Asrow, acting superintendent of the New York Department of Financial Services; Erika Brown Lee, head of global data privacy legal, Citi; Beth Collins, chief compliance officer, Walmart; Indrani Franchini, chief compliance officer, IBM; and Kevin O’Connor, general counsel, Lockheed Martin.

Request a complimentary invitation here using the code COMPLIMENTARY. Attendance is limited, and all requests are subject to approval.

• Ghislaine Maxwell, the longtime associate of Jeffrey Epstein, declined to answer questions from Congress, invoking her right against self-incrimination.
   
• Tensions are simmering in the icy Arctic. North Atlantic Treaty Organization allies are sending a growing number of soldiers to the High North to help prepare for the threat of a potential Russian invasion. They quickly discover that newcomers need to learn a whole new set of skills to merely survive, let alone fight a war.
   
• The U.S. government is investing hundreds of millions of dollars in gallium production, a little-known metal that China supplies the vast majority of.
   
• New York City nurses have reached an agreement to end a strike at two major hospital systems.
   
• “Today” co-anchor Savannah Guthrie pleaded for members of the public to help in the search for her missing mother, saying in a video on her Instagram page Monday, “We are at an hour of desperation.”

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