April 6, 2026 • 33 mins
Hour 3 of The Clay Travis & Buck Sexton Show closes out the Monday broadcast with a mix of breaking geopolitical developments, midterm election analysis, space exploration news, and an in‑depth policy discussion on financial markets, all while continuing real‑time coverage of President Donald Trump’s extended White House press conference on Iran. Clay Travis and Buck Sexton open the hour noting that Trump is still taking questions more than an hour into his remarks, with markets largely unmoved—signaling that, so far, no unexpected shocks have emerged. They also highlight a widely overlooked but historic achievement: the Artemis II mission has carried astronauts farther from Earth than any humans in recorded history, as the crew prepares to orbit the far side of the Moon. Clay plays a powerful, unscripted Easter message from astronaut Victor Glover, who reflects on faith, humanity, and unity from space—providing a rare moment of optimism amid global tension.
Much of Hour 3 focuses on the political fallout of the Iran conflict and the approaching U.S. midterm elections. Clay and Buck revisit data from CNN analyst Harry Enten showing Democrats in a weaker‑than‑historical position for a midterm year under a Republican president. They analyze new reporting that GOP‑aligned groups plan to spend more than $340 million to protect and expand their Senate majority, breaking down the eight key states expected to determine Senate control. The conversation zeroes in on Ohio, North Carolina, Maine, Iowa, Alaska, Michigan, Georgia, and New Hampshire, with particular attention to the unexpectedly high cost needed to defend Ohio following JD Vance’s elevation to vice president. The hosts argue that Senate control—not the House—is the real strategic prize, especially for confirming judges and maintaining institutional power, and express confidence Republicans will ultimately hold the upper chamber despite an expected “dog fight” in the House.
As President Trump continues speaking, Clay and Buck return repeatedly to new statements emerging from the press conference. Trump formally sets an 8:00 PM Eastern deadline for the Iranian regime to accept terms related to its nuclear program, framing the demand as effectively unconditional and warning that failure will result in escalating strikes on civilian infrastructure. He again urges the Iranian people to rise up against their rulers, citing past mass killings of protesters, and sharply criticizes Democrats—particularly former President Barack Obama—for what Trump describes as choosing Iran over Israel through the 2015 nuclear deal and cash transfers. Clay and Buck contextualize these comments as an intentional pressure campaign aimed at forcing regime capitulation without a ground invasion.
The second half of Hour 3 pivots to a substantive in‑studio interview with Michael Selig, Chairman of the Commodity Futures Trading Commission (CFTC). Clay and Buck dig into the growing importance of prediction markets such as Polymarket and Kalshi, explaining how Americans can now trade on outcomes ranging from elections and wars to sports and commodity prices. Selig discusses a major Third Circuit Court ruling affirming federal authority over derivatives markets, including prediction contracts, rejecting state efforts to regulate them under gambling laws. He outlines why these markets provide valuable information, often outperforming traditional polling, and why keeping them regulated onshore is critical for innovation, transparency, and U.S. competitiveness. Selig confirms the CFTC is prepared to pursue the issue to the Supreme Court if necessary, positioning federal oversight as essential to market integrity.
Before wrapping up, Clay notes that prediction‑market odds on a potential U.S.–Iran deal have risen sharply, reflecting growing optimism—however tentative—that a ceasefire or agreement may be reached before Trump’s deadline. The hour closes on a lighter note with listener talkbacks reacting to Clay’s birthday, cake preferences, and the ongoing debate over ice‑cream cake versus traditional cake, reinforcing the show’s trademark blend of heavyweight news and relaxed humor.
Make sure you never miss a second of the show by subscribing to the Clay Travis & Buck Sexton show podcast wherever you get your podcasts! ihr.fm/3InlkL8
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Welcome back in Clay Travis buck Sexton show. We have
got President Trump still taking questions. He has been talking
for at least an hour ish now. He started at
the top of last hour. He is still going now.
We will continue to monitor those questions. The stock market
has not moved very much in any direction at all
(00:24):
during the course of the past hour, suggesting that there
has not been much in the way of news that
was unexpected. Buck so far, one bit of news that
is that kind of cool, did you know? And again
it's kind of getting snowed under with all the attention
with the Artemis two astronauts, we now have sent humans
(00:47):
farther from Earth than ever in the history of the world.
The humans are now over nearly two hundred and fifty
thousand miles from Earth as they are preparing to go
around the dark side of the Moon. And that is
pretty cool and again basically snowed under with all of
(01:10):
the news that is taking place in the United States
and around the world right now. But as we are
speaking to you now humans are farther from Earth than
they have ever been in recorded history. I feel comfortable
saying history, and that is pretty awesome. So on the
dark side of the Moon. As President Trump was beginning
(01:34):
to speak an hour ago, we played you a cut
and actually, let me give you a positive here.
Speaker 2 (01:40):
Buck, you have not heard of this. Let's have a
super positive. It is it.
Speaker 1 (01:44):
We just came through Easter weekend and I know many
of you with your friends and family, and hopefully you
all had fabulous Easter weekends.
Speaker 2 (01:52):
We did here. I know Buck did as well.
Speaker 1 (01:54):
This is Artemis two astronaut Victor Glover, who unscripted, was
asked what his message might be on Easter weekend for
everyone back on Earth, and I thought this was so
fantastically well said the team pulled that I shared it
as well. Here is Victor Glover, astronaut in space. Listen
(02:17):
to this on Easter weekend.
Speaker 3 (02:19):
For me, one of the really important personal perspectives that
I have up here is I can really see Earth
as one thing. And you know, when I read the
Bible and I look at all of the amazing things
that were done for us who were created, it's you
have this amazing place, this spaceship. You guys are talking
to us because we're in a spaceship really far from Earth,
but you're on a spaceship called Earth that was created
(02:43):
to give us a place to live in the universe
and the cosmos. Maybe the distance we are from you
makes you think what we're doing is special. But we're
the same distance from you, and I'm trying to tell you,
just trust me, you are special. In all of this emptiness.
This is a whole bunch of nothing. This thing we
call the universe. You have this oasis, this beautiful place
that we get to exist together. I think as we
(03:05):
go into Easter Sunday, thinking about, you know, all the
culturees all around the world, whether you celebrated or not,
whether you believe in God or not, this is an
opportunity for us to remember where we are, who we are,
and that we are the same thing, and that we
got to get through this together.
Speaker 1 (03:20):
I thought that was really well said. Again, that video
is out there. He's floating in space. Asked about what
his experiences have been so far and unscripted, he uncorked
what I think is pretty incredible. And again, the Artemis
two crew has now set a record for the furthest
humans have ever gone from the planet Earth. As we
(03:43):
are speaking to you now, President Trump continuing to answer questions,
but you know, you know, It's interesting, Buck. You started
to play this cut from CNN as we are starting
to move into mid term election cycle, and I forgot
what number it was. You may have it in front
of you again, but we started to play it, and
then President Trump started to speak.
Speaker 2 (04:05):
I mean, the.
Speaker 4 (04:06):
Leader of the free world decided it was time to
address the whole nation. So I had to cut Harry
into and off. Sorry, Harry poor Man's Ryan Gurdusky. But
he's uh, he's gonna come back. Now we're gonna play it.
Speaker 2 (04:17):
Let's do it.
Speaker 5 (04:20):
This lead is historically low for Democrats at this point
with the Republican president, because take a look here, and
I'm taking a look at the average of all the
posts DEM generic congressional ballot lead at this point in
the cycle with the Republican president. On average, their lead's
actually slightly less. It's five points. That's less than it
was back in twenty and eighteen when it was eight points,
and way less than it was during the twenty zero
(04:41):
six cycle when it was eleven points. So yeah, Democrats
are ahead, but they're only ahead by five with a
president who's net approval rating is bordering a minus twenty
to minus thirty, depending on what post you look at,
you'd make the argument Democrats should be way ahead, and
they're just only sort of slightly ahead.
Speaker 1 (04:59):
So so that it is out there as we look
at midterms, and I wanted to share this.
Speaker 2 (05:04):
Buck.
Speaker 1 (05:06):
This is from the New York Times and the Republicans.
The Senate Leadership Fund has unveiled a plan to spend
three hundred and forty two million dollars to hold the Senate,
and Buck, this is you know, I know the House
is going to get a lot of attention, but to me,
the Senate is the whole ball of wax in many ways,
(05:29):
because we know the House is going to impeach Trump
and all those things, but really we need to be
able to continue to get judges through number one expenditure.
I don't know if any of these will surprise you,
but I thought this was interesting. Ohio seventy nine million dollars.
So jd Vance has now been elevated to vice president
(05:51):
and as a result, his seat is up for grabs
and they are running the guy who just lost to
Burning Marino seventy nine million to keep that overall seat.
Then North Carolina seventy one million. That is where Tom
Tillis is stepping down. Those are two Republican seats Main
(06:14):
forty two million, That is Susan Collins. Now, in theory,
all three of those seats could be lost and you
would still have JD vance to break the tie, so
you would still have control of the Senate. Then this
is what I would call buck the sort of red
wall states. Iowa twenty nine million and Alaska fifteen million.
(06:39):
So that is the five GOP held seats where Republicans
are saying, okay, we're going to spend a lot of money.
Democrat held seats Michigan. We talked with Mike Rogers Friday,
I think he was on the show Friday, the top
the Senate candidate in Michigan, GOP is going to spend
forty five million that open seat, and then forty four
(07:03):
million dollars in Georgia and seventeen million dollars in New
Hampshire to try to flip one of those three top
target states out there, Michigan, Georgian, New Hampshire. It's not
too early to start thinking about this landscape. And I thought,
giving that Harry inon clip, these numbers jumped out at
(07:23):
me so effectively. Eight states that will decide who controls
the United States Senate.
Speaker 4 (07:30):
Look, I think that Ohio is going to be much
more interesting in some ways than it should be. You know,
the governor's race is close, yes, and it shouldn't be close.
But because of Trump's endorsement there for Viveke, the Ohio
GOP just decided.
Speaker 2 (07:47):
We're gonna make him.
Speaker 4 (07:48):
They didn't run a primary, really, they said we're gonna
make Vivike Ramaswami the candidate. He's got some huge weaknesses,
especially in a state like Ohio, because of his public statements,
He's going to make things a lot tighter than they
should have been, which is going to affect everything. You know,
you say, oh, that's the governor's race, what's going to
affect the Senate race too? As you know, ballots splitting,
I mean, these things are you want it to be
(08:11):
as solid red as it can be across the board.
So I see that playing out in a way that
is much it's gonna I'm not saying that the Democrats
will win either of those, but it's going to be
a challenge. When we thought of Ohio is pretty safe
red territory for a few elections here, and it has
been So that's I think another interesting component to all
(08:33):
of this. There's also we can play seventeen as well.
There's more on this from Harry etin. I'd like to
hear more of his data analysis from over it. He
is a good data analyst. I will give give credit
where due, Harry Anton. This is seventeen play it.
Speaker 5 (08:46):
Why is that generic congressional ball lead solo? Because just
take a look at this net favorability party ahead at
this point midterm of years with the GOP president in
twenty eighteen, DEMSRA up by twelve and two thousand and
six on net favorability, which part you like more? Demsra
hit by a team. Republicans are actually ahead on that
favorability at this point by five points. So Democrats are
just simply put running behind their previous benchmarks, and they'd
(09:09):
be running well ahead of them if they want to
take back the United States Senate given that man.
Speaker 4 (09:14):
So, look, Democrats are not in for given the math
of midterms, Democrats are not in a very good spot
right now, which is unsurprising. So, like I said at
the very beginning of this or early on, I think
that there's a lot of wishing for catastrophe in Iran,
and as that pertains also to the economy and gas
(09:37):
prices and everything else. Because the first of all, Clay
who is the leader of the Democrat party right now?
We still ask this question, Yes, that matters. There is
no leader of the resistance. You know, when you talk
about previous you know, previous administrations, just go back twenty years,
There've always been a couple of Democrats or a Democrat
(09:59):
who is the voice of the opposition or the voice
of the regime. Right now, I don't know. I don't
think anybody knows. Gavin Newsom is hoping to consolidate that
around him. We'll see. There's no other Democrat though, you know,
Barack Obama. It's been a long time, and I don't know.
Obama has never one thing about Obamaism that is just
(10:20):
clear from the numbers. He has never translated into helping
other Democrats very much. He was good at getting elected,
he was not good at electing other Democrats. I think
he was a singularly effective for his own for his
own political purposes. Anyway, I think that it's going to
be I think we're going to be fine. In the Senate,
(10:41):
It's going to be a real dog fight in the House,
much more so than it should be for a party
that is in power at this stage of the game.
But I feel do you feel confident in the Senate?
I have full confidence we're going to maintain the Senate.
I feel pretty good about the Senate. And I think
this election is going to come down to again, I
said it earlier in the pre A lot of people
are just angry. But the favorability for Democrats is actually
(11:06):
lower than the favorability for Republicans. So I think we
live in a world now where the idea that you're
going to have someone who is really really popular on
the Democrat or the Republican side is unfortunately not our reality.
And so it's almost the side of which one is
disliked more.
Speaker 1 (11:24):
You know, there is it There isn't like, Hey, I
really like both these guys, and it's going to be
tough for me to pick. It's I dislike both parties,
but I dislike the Democrat Party more than I dislike
the Republican Party. So it is a it is a
that's a cycle that we seem to have been in
for some time. And look, I'm I would say a
(11:46):
little bit nervous when I see the dollars that are
going to have to be spent in Ohio. I would
not have expected that Republicans would be spending the most
of their money in Ohio. One thing I will say
me tried to talk up Texas. Texas is not even
on the list of states that Republicans are planning to spend.
Speaker 4 (12:07):
They always do this. They put Beto on the cover
of Vanity Fair. For Heaven's sakes, Well, I mean not
that that was going to be fair. You want, you
want to appeal the ranchers in West Texas, get a
Vanity Fair covered.
Speaker 2 (12:18):
They're like, oh, I love that Vanity Fair.
Speaker 1 (12:21):
I will say they did have to spend. Republicans did
a ton of money against Beto. Beto is way better
of a candidate than tall Ico. And I think this
is a tacit acknowledgment that Texas is not going to
be in play, but.
Speaker 2 (12:34):
Ohio, Ohio should be an easy win. It should be.
Speaker 1 (12:38):
And the fact that it's going to cost seventy five
million dollars to potentially win that seat that is already
in Republicans' hands, I think is not ideal. All Right,
we come back, We'll give you more. Trump is still talking,
still answering questions. There have not been very many fireworks
so far, but we will continue to monitor this. Stock
(13:01):
market hasn't moved very much one way or the other,
so there has not been a ton of news to
come out of this. In fact, Buck, I think President
Trump basically said everything he was going to say when
he was talking at the White House Easter egg roll.
By the way, we're going to be joined by the
head of the CFTC in the bottom of this hour.
He's going to be in studio here with us. But
(13:22):
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Speaker 2 (14:27):
You can count on as some laughs too. Clay Travis
and Buck Sexton.
Speaker 1 (14:32):
Find them on the free iHeartRadio app or wherever you
get your podcasts.
Speaker 2 (14:37):
Welcome back into Clay and Buck. Thanks for being here
with us, everybody. So obviously a.
Speaker 4 (14:41):
Lot of focus on the Iran rescue operation over the
weekend and now the next steps Iman Clay, We've heard
from the President last hour. We heard the President addressing
the nation, really the world about the Iran operation in
some detail. But also he has a deadline that has
(15:02):
been set for what is effectively certainly an unconditional surrender
of the Iranian regime as it pertains to its nuclear
program slash ambitions.
Speaker 2 (15:12):
It would be give over all.
Speaker 4 (15:14):
The material, give US inspection rights, all kinds of stuff, right,
he says.
Speaker 2 (15:20):
If they don't do that.
Speaker 1 (15:22):
And this is very clear, Trump says he's going after
civilian infrastructure. Well, we have this right now, him just saying,
buck cut thirty eight. The deadline is eight pm tomorrow.
This was just now during the presser.
Speaker 6 (15:35):
Look what happened. I mean, women are being executed because
they're not properly clothed. They say they're not properly clothed,
and they execute the women. They absolutely they shoot him
right on the street. No, you have a much different
group of people. Now, I'm not saying we are dealing
with them. Essentially, they have till eight o'clock tomorrow night
at Eastern time, but we are dealing with them. I
(15:55):
think it's going well. Mister Whitcoff is here and JD's
involved in the dealing.
Speaker 1 (16:01):
A couple more here bucks. So eight pm Eastern tomorrow,
President Trump is saying is the deadline for a deal.
He's also continuing to encourage the Iranian people to rise
up He's been saying this since the strikes began. Cut
thirty seven.
Speaker 6 (16:15):
What would be your reaction if the Iranian people raise
up against their regime during a case fire, mister President, Well,
they should do it, but again, the consequences are great.
I mean, they were told you if you protest, you
will be shot immediately. You saw what happened to the
young wrestler. He was a great champion, by the way.
(16:35):
He was a great wrestler, one of the top in
the world. And he and his two friends were hung
and all they did was say a little bit about liberty.
They wanted liberty, and they were violently executed. But the
number is up to probably forty five thousand people would.
Speaker 1 (16:53):
Kill one more buck. This is Trump saying Obama chose
Iran over Israel. How in the world can Israel continued
Jewish voters vote for Democrats?
Speaker 2 (17:05):
Cut thirty nine.
Speaker 6 (17:06):
If I didn't terminate the Barack Cussein Obama I ran
nuclear deal, they would have had a don't forget that
was a path to a nuclear weapon. Remember this, he
chose Iran over Israel, pure and simple. How Israel can
vote for a Democrat is if you're Jewish in New
York City or anyplace else in this country. And how
(17:26):
you can vote for a Democrat is Zimblibut because he
chose I ran a very hostile Iran. Remember when he
filled up a seven fifty seven with cash, billions of
dollars of cash, and he sent it over to them.
Then they gave them tens of billions of dollars. He
chose I ran over Israel and really the Arab world.
Speaker 4 (17:50):
We'll get into more of this year coming up in
just a moment. But I didn't plan this. It's just happening.
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Speaker 2 (18:56):
Welcome back in Clay and Buck.
Speaker 1 (18:57):
We we are rolling through the Monday edition of the pro
President Trump's press conference finished. He talked for around an
hour and twenty minutes about the incredible success of the
rescue buck of.
Speaker 2 (19:10):
The two airmen.
Speaker 1 (19:11):
He reiterated the deadline for Iran to reach an agreement
of eight pm tomorrow. Multiple different speakers, Pete Hegseth, the
head of the CIA, General Cain, all of those individuals
talking about what a tremendous success the rescue was of
this airman who was stranded for about forty eight hours
(19:32):
in Iran.
Speaker 4 (19:34):
Remarkable, remarkable to see that they've all come together here
and managed such an incredible operation. And look, Clay could
have gone another way. I mean, we all got to
kind of celebrate that he has risen for those of
us who are Christian on Sunday, and we also had
a news story that we could all breathe easier knowing
that the second airman was returned home.
Speaker 2 (19:56):
No doubt.
Speaker 1 (19:57):
We got another guest in studio, We got a studio
that we're excited to break out some of the time.
And we had last week we had the head of
the SBA, Kelly Leffler in today we have Michael Seelig,
who is the head of the CFTC, and that is
the Chairman of the Commodity Futures Trading Commission. You and
(20:19):
I met a little while ago, Chairman Selig, and let's
just kind of dive in here for people who don't
understand what it is that the CFTC does. You guys
do what in the larger economic system here, Well, the
US financial markets have two big components. They've got derivatives
and securities, and we've got the sec that regulates the
(20:41):
securities markets, and the CFTC is the federal regulator when
it comes to these derivatives instruments. Derivatives are financial products
that really can be traded on virtually any underlying assets.
You can create a financial instrument that tracks the value
of a grain of corn or a commercial event like
an election. So we regulate a broad market, and the
(21:03):
CFTC has a federal regulatory framework for these derivatives instruments.
We enforce and we set policy in that area. So
I am pulling up right now. The two that people
know the most would be poly market in the prediction markets,
which is under your purview. Now, this has been a
huge story. You've got a big ruling in your favor
(21:23):
from the Third Circuit that just came down earlier today
a little bit. You were on CNBC earlier today. You've
had a busy media day and basically the poly markets
and the Calshi's you could have anything from who's the
next governor going to be? To tonight's game is going
on between You've got Yukon going up against Michigan, and
(21:44):
you could have a prediction market on that. What did
you think of the Third Circuits ruling and how significant
to you was that ruling.
Speaker 7 (21:52):
I applaud the Third Circuit for reaching the decision that
the CFTC has a federal regulatory framework for derivatives contract
and it doesn't matter if the derivatives on the outcome
of a sporting event or an election, a credit default swap,
or anything else. To the extent that it's a derivative
instrument and the underlying asset is something that's subject to
our statutes, then we regulate that. And many of these
(22:15):
states have effectively tried to nullify federal law. They would
prefer to substitute the gaming laws of their state for
the federal regulatory framework for derivatives, and the court said
that that's not how our system is set up. We
have federal market regulations, federal market laws, and gaming laws
at the state level can't conflict with that.
Speaker 1 (22:34):
Right now, Buck on the top end and chairman on
the top of poly market, I'm looking at it right now.
Speaker 2 (22:40):
This is super I love markets.
Speaker 1 (22:42):
I love poly market, you know, just checking to see
we have what will the price of crude oil hit
in April of twenty twenty six. We have bitcoin? What
is the price of bitcoin going to be? Will there
be a US Iran ceasefire by a certain date? Who
is going to win the NCT tournament.
Speaker 2 (23:01):
We've got.
Speaker 1 (23:02):
Let's see what will Trump say during his news conference
that just completed. Will the Strait of Horrormos traffic return
to normal? Who's going to win the World Cup?
Speaker 2 (23:11):
Next?
Speaker 1 (23:12):
Prime Minister of Hungary, who's going to win the Hungarian parliament?
Peru's presidential election winner? How long will the DHS shut down?
Speaker 2 (23:21):
Last?
Speaker 1 (23:21):
Okay, all of those things are out there. Why is
it beneficial to the American economy and the global economy
to have markets such as these?
Speaker 7 (23:31):
Well, I'm a free market regulator, and I do believe
that markets always find a way. It's important that we
foster those markets, create guardrails and regulations around them here
in the US, because if they don't develop here in
the United States, they will develop offshore. And that's really
what we saw under the last administration, where there was
a concerted effort to regulate my enforcement drive these platforms offshore,
(23:52):
and that results in a loss of innovation in the
United States and a loss of jobs here in the country.
And so what we're doing, and the reason we think
these markets are important is because they create a lot
of important information about for example, elections, we saw that
the prediction markets were much more accurate in twenty twenty
four than some of the polling. We also see with
a lot of the hoaxes and the fake news that
(24:15):
media can create many types of stories, but the markets
are a real check on that. The prediction markets have
proven accurate in many contexts with respect to sports and
other things. We do believe that there's value in persons
accessing trading markets for these products rather than going into
a casino and betting against the house. There's a reason
that hedge funds and financial players would prefer to trade
(24:38):
in a market. It's because you have certain investor protections
and expectations like an order book and a clearinghouse that
you just don't get when you walk into a casino.
Speaker 1 (24:46):
How long do you think this legal battle is going
to go on? I mentioned that you won in the
Third Circuit federal law over state law. Do you expect
the Supreme Court's going to eventually take on, for instance,
sports prediction markets other circuits court rulings. This is a
big deal with Calshi, polymarket, fan duel DraftKings. Those of
us who engage in in sports, what do you see
(25:07):
happening there?
Speaker 7 (25:09):
We've partnered with the DOJ and have now sued three states.
We've sued Illinois, Connecticut, and Arizona, and we may evaluate
additional lawsuits. Of course, we welcome the decision today in
the Third Circuit that affirms our view that the CFDC
has exclusive regulatory jurisdiction when it comes to these products
when they're traded on regulated platforms that are registered with
the CFTC, and so we'll take it as far as
(25:31):
we need to take it. If it goes to the
Supreme Court, we will be there to argue that case.
We believe that the law's very clear, and we welcome
the states to engage with us on the policy side.
But when it comes to the law, Congress was clear
and setting up a federal regulatory framework for derivatives of
all types. It does not matter if it's a sports
contract or a grain contract.
Speaker 2 (25:49):
We're here to regulate that.
Speaker 7 (25:51):
We want to make.
Speaker 2 (25:51):
Sure that our laws are enforced across the country. We'll
go to break here.
Speaker 1 (25:55):
If you love this and look, this is one of
these areas of the law that I can nerd out
on you and I are going to have a little
bit of a longer form conversation. It will be up
on the clay and Buck YouTube page. People will be
able to check this out if you are interested in this.
You know, Buck and I have some nerdy, nerdy interests.
This is one of mine. I love all of this.
(26:16):
This is me putting my legal hat on. We're going
to have a discussion about that. By the way, odds
of a US earn nuclear deal the prediction markets have
doubled just in the last twelve or so hours, meaning
it's looking there's at least some optimism out there that
we may end up with some form of a ceasefire
or a deal. Chairman, we appreciate the time. You and
(26:37):
I'll have a longer deep dive. It's going to be
up on the Clay and Buck YouTube channel. Go subscribe
you'll be able to see that Buck take us away.
Speaker 4 (26:44):
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Speaker 1 (28:05):
Making America great again isn't just one man, It's many.
Speaker 7 (28:10):
The Team forty seven podcast Sunday's at noon Eastern in
the Clay and.
Speaker 2 (28:14):
Buck podcast feed.
Speaker 1 (28:15):
Find it on the iHeartRadio app or wherever you get
your podcasts.
Speaker 4 (28:20):
Welcome back into Clay and Bock before we send you off.
We have so many great, so many great talkbacks and
things to discuss with all of you, which I am
certainly very excited about. Also want to tell you to
go check out the Clay and Buck podcast Network and
we'll get an audio book of Manufacturing Delution. While you
(28:40):
can those audio books flying off the shelves, well, I
guess that's easy because it's all digital. But it's my voice.
You can listen to it there. You can go listen
to Manufacturing Delution the audio book. Go to the Clay
and Buck podcast Network for all the pods. And I'm
trying to Clay. I'm a little bit stalling, so I'm
trying to find the latest Where's where are the talkbacks
on the cakes?
Speaker 2 (28:58):
Guys?
Speaker 4 (28:59):
You got to a got all right? All right, light
them up, Light them up, Linda, Let's do it.
Speaker 1 (29:06):
Uh. First of all, let's go to h D Jerry
from Texas teeing off on me.
Speaker 2 (29:12):
Jerry cut D.
Speaker 1 (29:14):
I really thought Clay was about to say, I'm gonna
have steak, I'm gonna have cake, and I'm gonna have
a cup of rose to go along with it. Hey,
not that there's anything wrong with that club. Not if
there's anything wrong with I'm gonna again. It's my birthday.
My plan is watch the college basketball National Championship game,
have some steak, have some cake, no rose plan and
(29:39):
Joe from New York City not happy with you w
o R listener talk back E fuck.
Speaker 8 (29:44):
You dirty dogs. Don't you ever talk about my ice
cream cake like that again. I will never wish you
a happy birthday ever again. Ice cream cake is the
greatest thing you could have on your birthday, besides a
beautiful woman.
Speaker 4 (29:56):
Okay, I mean I agree with the beautif a woman
comment from Joe, who was a great New Yorker listening
on WR. I just think that ice cream and cake
separated are much better combo. I don't think you need
to combine these things. I just I'm a true believer
in the cake being the cake and the ice cream
being a scoop on the side.
Speaker 2 (30:17):
Jeff in Charleston seeing off on us cut ge. Okay,
Clay and Beck, this is Jeff from Charleston. I just
have to say you both.
Speaker 4 (30:26):
Are cake losers and should never make any decisions on cake.
All right, I throw a flag here, Jeff on Charleston.
Let's say you're right, Jeff from Charleston. Let's say Clay
and I are cake losers. You gotta tell us why, Like,
are you going all in on coconut shredded on your cake?
You got to give us more to work with here
than just you guys. Are You can't just send us
(30:47):
a talkback that says we're losers, and I mean you
can and we just played it on the air. We're
losers and we're wrong. There's a comma there. Why you
gotta give us the why? Buddy? You gotta tell us
what about this? Because because we got nothing we can
fight back with. Right now, you're just saying our cake
cakes are in general terrible. I mean, maybe he's a
big german sheet cake guy who knows.
Speaker 1 (31:07):
Very careful there, Boston te's off unidentified Boston listener cut eh.
Speaker 4 (31:12):
How can Buck be from New York and not be
familiar with ice cream cake? That's where Carvel ice cream originated.
Speaker 2 (31:19):
Ice cream cake is the best. Not sure how Buck
is missing that.
Speaker 4 (31:22):
My familiarity with ice cream cake is what breeds my
contempt for it.
Speaker 2 (31:26):
That's the point.
Speaker 1 (31:28):
And some of you will producer Greg Buck is not
even in studio. I don't think today but he had
a talkback. I mean, the guy who took time off
for vacation to go watch the eclipse probably not going
to surprise anybody out there that he's a huge coconut
on cake fan cut f.
Speaker 9 (31:46):
Hi, guys, is producer Greg. I have coconut on my
cake for my birthday every year. If you guys can't
figure out that the little bit of coconut on your
cake brings the islands closer to you, I can't help you.
Speaker 1 (32:01):
Was that a cat in the background too, I mean
just definitely, it definitely was a cat in the background.
Which are sure Producer Greg is actually on our team.
Speaker 2 (32:11):
It's got cats in the background.
Speaker 1 (32:13):
Coconut he takes time off for eclipses, I don't know.
Speaker 4 (32:19):
You know, we got two We got two hockey super fans,
Producer Greg and producer Mark, and they they they go
to the mat for all you hockey fans will listen
to us and don't let us get away with any
shenanigans making, you know, talking smack about hockey. But I
just feel like people that like shredded coconut on their
cake also probably like hockey.
Speaker 2 (32:34):
That's That's where I'm coming down on this.
Speaker 1 (32:36):
I think that that's actually that those are. Producer Greg
might be the only guy who likes cocky hockey and
also is gonna go with with shredded coconuts awful.
Speaker 3 (32:47):
I don't know.
Speaker 2 (32:48):
So it's basically.
Speaker 1 (32:49):
Telling everybody at your birthday party, I hate you, but
I like this, and so everybody else has to do it.
Speaker 4 (32:58):
Talkback listener, Jay Pot Cast listener rather Luke from Colorado
on Jay hit It.
Speaker 8 (33:03):
My name is Luke from Colorado and as old as
you are, wondering if the high school mascot was your
t Rex?
Speaker 2 (33:10):
All right, whoa sevens? No high school.
Speaker 1 (33:14):
Mascots, and uh, what is your high school mascot? Actually curious?
That's not not really great?
Speaker 4 (33:19):
The Royals, that's kind of yeah, mine was not greaty
a little better the Raiders.
Speaker 1 (33:26):
The Raider is a very common, very common high school
we we had the Royals, which basically had become like
a lion, right like the Royals.
Speaker 2 (33:36):
But you know it's not I'm not gonna lie go lions?
Then why go Royals? You know, I don't know.
Speaker 1 (33:42):
It's a fantastic question. That's a great question. All right, Hey,
we love all of you. Thank you for spending Monday
with US big news to follow tomorrow. Thanks to President
Trump went all the throughout the whole show,
Welcome back in Clay Travis buck Sexton show. We have
got President Trump still taking questions. He has been talking
for at least an hour ish now. He started at
the top of last hour. He is still going now.
We will continue to monitor those questions. The stock market
has not moved very much in any direction at all
(00:24):
during the course of the past hour, suggesting that there
has not been much in the way of news that
was unexpected. Buck so far, one bit of news that
is that kind of cool, did you know? And again
it's kind of getting snowed under with all the attention
with the Artemis two astronauts, we now have sent humans
(00:47):
farther from Earth than ever in the history of the world.
The humans are now over nearly two hundred and fifty
thousand miles from Earth as they are preparing to go
around the dark side of the Moon. And that is
pretty cool and again basically snowed under with all of
(01:10):
the news that is taking place in the United States
and around the world right now. But as we are
speaking to you now humans are farther from Earth than
they have ever been in recorded history. I feel comfortable
saying history, and that is pretty awesome. So on the
dark side of the Moon. As President Trump was beginning
(01:34):
to speak an hour ago, we played you a cut
and actually, let me give you a positive here.
Speaker 2 (01:40):
Buck, you have not heard of this. Let's have a
super positive. It is it.
Speaker 1 (01:44):
We just came through Easter weekend and I know many
of you with your friends and family, and hopefully you
all had fabulous Easter weekends.
Speaker 2 (01:52):
We did here. I know Buck did as well.
Speaker 1 (01:54):
This is Artemis two astronaut Victor Glover, who unscripted, was
asked what his message might be on Easter weekend for
everyone back on Earth, and I thought this was so
fantastically well said the team pulled that I shared it
as well. Here is Victor Glover, astronaut in space. Listen
(02:17):
to this on Easter weekend.
Speaker 3 (02:19):
For me, one of the really important personal perspectives that
I have up here is I can really see Earth
as one thing. And you know, when I read the
Bible and I look at all of the amazing things
that were done for us who were created, it's you
have this amazing place, this spaceship. You guys are talking
to us because we're in a spaceship really far from Earth,
but you're on a spaceship called Earth that was created
(02:43):
to give us a place to live in the universe
and the cosmos. Maybe the distance we are from you
makes you think what we're doing is special. But we're
the same distance from you, and I'm trying to tell you,
just trust me, you are special. In all of this emptiness.
This is a whole bunch of nothing. This thing we
call the universe. You have this oasis, this beautiful place
that we get to exist together. I think as we
(03:05):
go into Easter Sunday, thinking about, you know, all the
culturees all around the world, whether you celebrated or not,
whether you believe in God or not, this is an
opportunity for us to remember where we are, who we are,
and that we are the same thing, and that we
got to get through this together.
Speaker 1 (03:20):
I thought that was really well said. Again, that video
is out there. He's floating in space. Asked about what
his experiences have been so far and unscripted, he uncorked
what I think is pretty incredible. And again, the Artemis
two crew has now set a record for the furthest
humans have ever gone from the planet Earth. As we
(03:43):
are speaking to you now, President Trump continuing to answer questions,
but you know, you know, It's interesting, Buck. You started
to play this cut from CNN as we are starting
to move into mid term election cycle, and I forgot
what number it was. You may have it in front
of you again, but we started to play it, and
then President Trump started to speak.
Speaker 2 (04:05):
I mean, the.
Speaker 4 (04:06):
Leader of the free world decided it was time to
address the whole nation. So I had to cut Harry
into and off. Sorry, Harry poor Man's Ryan Gurdusky. But
he's uh, he's gonna come back. Now we're gonna play it.
Speaker 2 (04:17):
Let's do it.
Speaker 5 (04:20):
This lead is historically low for Democrats at this point
with the Republican president, because take a look here, and
I'm taking a look at the average of all the
posts DEM generic congressional ballot lead at this point in
the cycle with the Republican president. On average, their lead's
actually slightly less. It's five points. That's less than it
was back in twenty and eighteen when it was eight points,
and way less than it was during the twenty zero
(04:41):
six cycle when it was eleven points. So yeah, Democrats
are ahead, but they're only ahead by five with a
president who's net approval rating is bordering a minus twenty
to minus thirty, depending on what post you look at,
you'd make the argument Democrats should be way ahead, and
they're just only sort of slightly ahead.
Speaker 1 (04:59):
So so that it is out there as we look
at midterms, and I wanted to share this.
Speaker 2 (05:04):
Buck.
Speaker 1 (05:06):
This is from the New York Times and the Republicans.
The Senate Leadership Fund has unveiled a plan to spend
three hundred and forty two million dollars to hold the Senate,
and Buck, this is you know, I know the House
is going to get a lot of attention, but to me,
the Senate is the whole ball of wax in many ways,
(05:29):
because we know the House is going to impeach Trump
and all those things, but really we need to be
able to continue to get judges through number one expenditure.
I don't know if any of these will surprise you,
but I thought this was interesting. Ohio seventy nine million dollars.
So jd Vance has now been elevated to vice president
(05:51):
and as a result, his seat is up for grabs
and they are running the guy who just lost to
Burning Marino seventy nine million to keep that overall seat.
Then North Carolina seventy one million. That is where Tom
Tillis is stepping down. Those are two Republican seats Main
(06:14):
forty two million, That is Susan Collins. Now, in theory,
all three of those seats could be lost and you
would still have JD vance to break the tie, so
you would still have control of the Senate. Then this
is what I would call buck the sort of red
wall states. Iowa twenty nine million and Alaska fifteen million.
(06:39):
So that is the five GOP held seats where Republicans
are saying, okay, we're going to spend a lot of money.
Democrat held seats Michigan. We talked with Mike Rogers Friday,
I think he was on the show Friday, the top
the Senate candidate in Michigan, GOP is going to spend
forty five million that open seat, and then forty four
(07:03):
million dollars in Georgia and seventeen million dollars in New
Hampshire to try to flip one of those three top
target states out there, Michigan, Georgian, New Hampshire. It's not
too early to start thinking about this landscape. And I thought,
giving that Harry inon clip, these numbers jumped out at
(07:23):
me so effectively. Eight states that will decide who controls
the United States Senate.
Speaker 4 (07:30):
Look, I think that Ohio is going to be much
more interesting in some ways than it should be. You know,
the governor's race is close, yes, and it shouldn't be close.
But because of Trump's endorsement there for Viveke, the Ohio
GOP just decided.
Speaker 2 (07:47):
We're gonna make him.
Speaker 4 (07:48):
They didn't run a primary, really, they said we're gonna
make Vivike Ramaswami the candidate. He's got some huge weaknesses,
especially in a state like Ohio, because of his public statements,
He's going to make things a lot tighter than they
should have been, which is going to affect everything. You know,
you say, oh, that's the governor's race, what's going to
affect the Senate race too? As you know, ballots splitting,
I mean, these things are you want it to be
(08:11):
as solid red as it can be across the board.
So I see that playing out in a way that
is much it's gonna I'm not saying that the Democrats
will win either of those, but it's going to be
a challenge. When we thought of Ohio is pretty safe
red territory for a few elections here, and it has
been So that's I think another interesting component to all
(08:33):
of this. There's also we can play seventeen as well.
There's more on this from Harry etin. I'd like to
hear more of his data analysis from over it. He
is a good data analyst. I will give give credit
where due, Harry Anton. This is seventeen play it.
Speaker 5 (08:46):
Why is that generic congressional ball lead solo? Because just
take a look at this net favorability party ahead at
this point midterm of years with the GOP president in
twenty eighteen, DEMSRA up by twelve and two thousand and
six on net favorability, which part you like more? Demsra
hit by a team. Republicans are actually ahead on that
favorability at this point by five points. So Democrats are
just simply put running behind their previous benchmarks, and they'd
(09:09):
be running well ahead of them if they want to
take back the United States Senate given that man.
Speaker 4 (09:14):
So, look, Democrats are not in for given the math
of midterms, Democrats are not in a very good spot
right now, which is unsurprising. So, like I said at
the very beginning of this or early on, I think
that there's a lot of wishing for catastrophe in Iran,
and as that pertains also to the economy and gas
(09:37):
prices and everything else. Because the first of all, Clay
who is the leader of the Democrat party right now?
We still ask this question, Yes, that matters. There is
no leader of the resistance. You know, when you talk
about previous you know, previous administrations, just go back twenty years,
There've always been a couple of Democrats or a Democrat
(09:59):
who is the voice of the opposition or the voice
of the regime. Right now, I don't know. I don't
think anybody knows. Gavin Newsom is hoping to consolidate that
around him. We'll see. There's no other Democrat though, you know,
Barack Obama. It's been a long time, and I don't know.
Obama has never one thing about Obamaism that is just
(10:20):
clear from the numbers. He has never translated into helping
other Democrats very much. He was good at getting elected,
he was not good at electing other Democrats. I think
he was a singularly effective for his own for his
own political purposes. Anyway, I think that it's going to
be I think we're going to be fine. In the Senate,
(10:41):
It's going to be a real dog fight in the House,
much more so than it should be for a party
that is in power at this stage of the game.
But I feel do you feel confident in the Senate?
I have full confidence we're going to maintain the Senate.
I feel pretty good about the Senate. And I think
this election is going to come down to again, I
said it earlier in the pre A lot of people
are just angry. But the favorability for Democrats is actually
(11:06):
lower than the favorability for Republicans. So I think we
live in a world now where the idea that you're
going to have someone who is really really popular on
the Democrat or the Republican side is unfortunately not our reality.
And so it's almost the side of which one is
disliked more.
Speaker 1 (11:24):
You know, there is it There isn't like, Hey, I
really like both these guys, and it's going to be
tough for me to pick. It's I dislike both parties,
but I dislike the Democrat Party more than I dislike
the Republican Party. So it is a it is a
that's a cycle that we seem to have been in
for some time. And look, I'm I would say a
(11:46):
little bit nervous when I see the dollars that are
going to have to be spent in Ohio. I would
not have expected that Republicans would be spending the most
of their money in Ohio. One thing I will say
me tried to talk up Texas. Texas is not even
on the list of states that Republicans are planning to spend.
Speaker 4 (12:07):
They always do this. They put Beto on the cover
of Vanity Fair. For Heaven's sakes, Well, I mean not
that that was going to be fair. You want, you
want to appeal the ranchers in West Texas, get a
Vanity Fair covered.
Speaker 2 (12:18):
They're like, oh, I love that Vanity Fair.
Speaker 1 (12:21):
I will say they did have to spend. Republicans did
a ton of money against Beto. Beto is way better
of a candidate than tall Ico. And I think this
is a tacit acknowledgment that Texas is not going to
be in play, but.
Speaker 2 (12:34):
Ohio, Ohio should be an easy win. It should be.
Speaker 1 (12:38):
And the fact that it's going to cost seventy five
million dollars to potentially win that seat that is already
in Republicans' hands, I think is not ideal. All Right,
we come back, We'll give you more. Trump is still talking,
still answering questions. There have not been very many fireworks
so far, but we will continue to monitor this. Stock
(13:01):
market hasn't moved very much one way or the other,
so there has not been a ton of news to
come out of this. In fact, Buck, I think President
Trump basically said everything he was going to say when
he was talking at the White House Easter egg roll.
By the way, we're going to be joined by the
head of the CFTC in the bottom of this hour.
He's going to be in studio here with us. But
(13:22):
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Speaker 2 (14:27):
You can count on as some laughs too. Clay Travis
and Buck Sexton.
Speaker 1 (14:32):
Find them on the free iHeartRadio app or wherever you
get your podcasts.
Speaker 2 (14:37):
Welcome back into Clay and Buck. Thanks for being here
with us, everybody. So obviously a.
Speaker 4 (14:41):
Lot of focus on the Iran rescue operation over the
weekend and now the next steps Iman Clay, We've heard
from the President last hour. We heard the President addressing
the nation, really the world about the Iran operation in
some detail. But also he has a deadline that has
(15:02):
been set for what is effectively certainly an unconditional surrender
of the Iranian regime as it pertains to its nuclear
program slash ambitions.
Speaker 2 (15:12):
It would be give over all.
Speaker 4 (15:14):
The material, give US inspection rights, all kinds of stuff, right,
he says.
Speaker 2 (15:20):
If they don't do that.
Speaker 1 (15:22):
And this is very clear, Trump says he's going after
civilian infrastructure. Well, we have this right now, him just saying,
buck cut thirty eight. The deadline is eight pm tomorrow.
This was just now during the presser.
Speaker 6 (15:35):
Look what happened. I mean, women are being executed because
they're not properly clothed. They say they're not properly clothed,
and they execute the women. They absolutely they shoot him
right on the street. No, you have a much different
group of people. Now, I'm not saying we are dealing
with them. Essentially, they have till eight o'clock tomorrow night
at Eastern time, but we are dealing with them. I
(15:55):
think it's going well. Mister Whitcoff is here and JD's
involved in the dealing.
Speaker 1 (16:01):
A couple more here bucks. So eight pm Eastern tomorrow,
President Trump is saying is the deadline for a deal.
He's also continuing to encourage the Iranian people to rise
up He's been saying this since the strikes began. Cut
thirty seven.
Speaker 6 (16:15):
What would be your reaction if the Iranian people raise
up against their regime during a case fire, mister President, Well,
they should do it, but again, the consequences are great.
I mean, they were told you if you protest, you
will be shot immediately. You saw what happened to the
young wrestler. He was a great champion, by the way.
(16:35):
He was a great wrestler, one of the top in
the world. And he and his two friends were hung
and all they did was say a little bit about liberty.
They wanted liberty, and they were violently executed. But the
number is up to probably forty five thousand people would.
Speaker 1 (16:53):
Kill one more buck. This is Trump saying Obama chose
Iran over Israel. How in the world can Israel continued
Jewish voters vote for Democrats?
Speaker 2 (17:05):
Cut thirty nine.
Speaker 6 (17:06):
If I didn't terminate the Barack Cussein Obama I ran
nuclear deal, they would have had a don't forget that
was a path to a nuclear weapon. Remember this, he
chose Iran over Israel, pure and simple. How Israel can
vote for a Democrat is if you're Jewish in New
York City or anyplace else in this country. And how
(17:26):
you can vote for a Democrat is Zimblibut because he
chose I ran a very hostile Iran. Remember when he
filled up a seven fifty seven with cash, billions of
dollars of cash, and he sent it over to them.
Then they gave them tens of billions of dollars. He
chose I ran over Israel and really the Arab world.
Speaker 4 (17:50):
We'll get into more of this year coming up in
just a moment. But I didn't plan this. It's just happening.
Those are your watching the YouTube. You can say, Buck,
you're drinking this liquid?
Speaker 2 (17:58):
Is that?
Speaker 4 (17:59):
Is that like smurfwater? It's blue? It's Chadmode my friends
from Chalk.
Speaker 2 (18:04):
That's right.
Speaker 4 (18:05):
Chalk makes amazing products, including stuff that I take and
use every day. Clay and I are friends with the
CEO and founder of this business. He is all about
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Speaker 2 (18:56):
Welcome back in Clay and Buck.
Speaker 1 (18:57):
We we are rolling through the Monday edition of the pro
President Trump's press conference finished. He talked for around an
hour and twenty minutes about the incredible success of the
rescue buck of.
Speaker 2 (19:10):
The two airmen.
Speaker 1 (19:11):
He reiterated the deadline for Iran to reach an agreement
of eight pm tomorrow. Multiple different speakers, Pete Hegseth, the
head of the CIA, General Cain, all of those individuals
talking about what a tremendous success the rescue was of
this airman who was stranded for about forty eight hours
(19:32):
in Iran.
Speaker 4 (19:34):
Remarkable, remarkable to see that they've all come together here
and managed such an incredible operation. And look, Clay could
have gone another way. I mean, we all got to
kind of celebrate that he has risen for those of
us who are Christian on Sunday, and we also had
a news story that we could all breathe easier knowing
that the second airman was returned home.
Speaker 2 (19:56):
No doubt.
Speaker 1 (19:57):
We got another guest in studio, We got a studio
that we're excited to break out some of the time.
And we had last week we had the head of
the SBA, Kelly Leffler in today we have Michael Seelig,
who is the head of the CFTC, and that is
the Chairman of the Commodity Futures Trading Commission. You and
(20:19):
I met a little while ago, Chairman Selig, and let's
just kind of dive in here for people who don't
understand what it is that the CFTC does. You guys
do what in the larger economic system here, Well, the
US financial markets have two big components. They've got derivatives
and securities, and we've got the sec that regulates the
(20:41):
securities markets, and the CFTC is the federal regulator when
it comes to these derivatives instruments. Derivatives are financial products
that really can be traded on virtually any underlying assets.
You can create a financial instrument that tracks the value
of a grain of corn or a commercial event like
an election. So we regulate a broad market, and the
(21:03):
CFTC has a federal regulatory framework for these derivatives instruments.
We enforce and we set policy in that area. So
I am pulling up right now. The two that people
know the most would be poly market in the prediction markets,
which is under your purview. Now, this has been a
huge story. You've got a big ruling in your favor
(21:23):
from the Third Circuit that just came down earlier today
a little bit. You were on CNBC earlier today. You've
had a busy media day and basically the poly markets
and the Calshi's you could have anything from who's the
next governor going to be? To tonight's game is going
on between You've got Yukon going up against Michigan, and
(21:44):
you could have a prediction market on that. What did
you think of the Third Circuits ruling and how significant
to you was that ruling.
Speaker 7 (21:52):
I applaud the Third Circuit for reaching the decision that
the CFTC has a federal regulatory framework for derivatives contract
and it doesn't matter if the derivatives on the outcome
of a sporting event or an election, a credit default swap,
or anything else. To the extent that it's a derivative
instrument and the underlying asset is something that's subject to
our statutes, then we regulate that. And many of these
(22:15):
states have effectively tried to nullify federal law. They would
prefer to substitute the gaming laws of their state for
the federal regulatory framework for derivatives, and the court said
that that's not how our system is set up. We
have federal market regulations, federal market laws, and gaming laws
at the state level can't conflict with that.
Speaker 1 (22:34):
Right now, Buck on the top end and chairman on
the top of poly market, I'm looking at it right now.
Speaker 2 (22:40):
This is super I love markets.
Speaker 1 (22:42):
I love poly market, you know, just checking to see
we have what will the price of crude oil hit
in April of twenty twenty six. We have bitcoin? What
is the price of bitcoin going to be? Will there
be a US Iran ceasefire by a certain date? Who
is going to win the NCT tournament.
Speaker 2 (23:01):
We've got.
Speaker 1 (23:02):
Let's see what will Trump say during his news conference
that just completed. Will the Strait of Horrormos traffic return
to normal? Who's going to win the World Cup?
Speaker 2 (23:11):
Next?
Speaker 1 (23:12):
Prime Minister of Hungary, who's going to win the Hungarian parliament?
Peru's presidential election winner? How long will the DHS shut down?
Speaker 2 (23:21):
Last?
Speaker 1 (23:21):
Okay, all of those things are out there. Why is
it beneficial to the American economy and the global economy
to have markets such as these?
Speaker 7 (23:31):
Well, I'm a free market regulator, and I do believe
that markets always find a way. It's important that we
foster those markets, create guardrails and regulations around them here
in the US, because if they don't develop here in
the United States, they will develop offshore. And that's really
what we saw under the last administration, where there was
a concerted effort to regulate my enforcement drive these platforms offshore,
(23:52):
and that results in a loss of innovation in the
United States and a loss of jobs here in the country.
And so what we're doing, and the reason we think
these markets are important is because they create a lot
of important information about for example, elections, we saw that
the prediction markets were much more accurate in twenty twenty
four than some of the polling. We also see with
a lot of the hoaxes and the fake news that
(24:15):
media can create many types of stories, but the markets
are a real check on that. The prediction markets have
proven accurate in many contexts with respect to sports and
other things. We do believe that there's value in persons
accessing trading markets for these products rather than going into
a casino and betting against the house. There's a reason
that hedge funds and financial players would prefer to trade
(24:38):
in a market. It's because you have certain investor protections
and expectations like an order book and a clearinghouse that
you just don't get when you walk into a casino.
Speaker 1 (24:46):
How long do you think this legal battle is going
to go on? I mentioned that you won in the
Third Circuit federal law over state law. Do you expect
the Supreme Court's going to eventually take on, for instance,
sports prediction markets other circuits court rulings. This is a
big deal with Calshi, polymarket, fan duel DraftKings. Those of
us who engage in in sports, what do you see
(25:07):
happening there?
Speaker 7 (25:09):
We've partnered with the DOJ and have now sued three states.
We've sued Illinois, Connecticut, and Arizona, and we may evaluate
additional lawsuits. Of course, we welcome the decision today in
the Third Circuit that affirms our view that the CFDC
has exclusive regulatory jurisdiction when it comes to these products
when they're traded on regulated platforms that are registered with
the CFTC, and so we'll take it as far as
(25:31):
we need to take it. If it goes to the
Supreme Court, we will be there to argue that case.
We believe that the law's very clear, and we welcome
the states to engage with us on the policy side.
But when it comes to the law, Congress was clear
and setting up a federal regulatory framework for derivatives of
all types. It does not matter if it's a sports
contract or a grain contract.
Speaker 2 (25:49):
We're here to regulate that.
Speaker 7 (25:51):
We want to make.
Speaker 2 (25:51):
Sure that our laws are enforced across the country. We'll
go to break here.
Speaker 1 (25:55):
If you love this and look, this is one of
these areas of the law that I can nerd out
on you and I are going to have a little
bit of a longer form conversation. It will be up
on the clay and Buck YouTube page. People will be
able to check this out if you are interested in this.
You know, Buck and I have some nerdy, nerdy interests.
This is one of mine. I love all of this.
(26:16):
This is me putting my legal hat on. We're going
to have a discussion about that. By the way, odds
of a US earn nuclear deal the prediction markets have
doubled just in the last twelve or so hours, meaning
it's looking there's at least some optimism out there that
we may end up with some form of a ceasefire
or a deal. Chairman, we appreciate the time. You and
(26:37):
I'll have a longer deep dive. It's going to be
up on the Clay and Buck YouTube channel. Go subscribe
you'll be able to see that Buck take us away.
Speaker 4 (26:44):
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Speaker 1 (28:05):
Making America great again isn't just one man, It's many.
Speaker 7 (28:10):
The Team forty seven podcast Sunday's at noon Eastern in
the Clay and.
Speaker 2 (28:14):
Buck podcast feed.
Speaker 1 (28:15):
Find it on the iHeartRadio app or wherever you get
your podcasts.
Speaker 4 (28:20):
Welcome back into Clay and Bock before we send you off.
We have so many great, so many great talkbacks and
things to discuss with all of you, which I am
certainly very excited about. Also want to tell you to
go check out the Clay and Buck podcast Network and
we'll get an audio book of Manufacturing Delution. While you
(28:40):
can those audio books flying off the shelves, well, I
guess that's easy because it's all digital. But it's my voice.
You can listen to it there. You can go listen
to Manufacturing Delution the audio book. Go to the Clay
and Buck podcast Network for all the pods. And I'm
trying to Clay. I'm a little bit stalling, so I'm
trying to find the latest Where's where are the talkbacks
on the cakes?
Speaker 2 (28:58):
Guys?
Speaker 4 (28:59):
You got to a got all right? All right, light
them up, Light them up, Linda, Let's do it.
Speaker 1 (29:06):
Uh. First of all, let's go to h D Jerry
from Texas teeing off on me.
Speaker 2 (29:12):
Jerry cut D.
Speaker 1 (29:14):
I really thought Clay was about to say, I'm gonna
have steak, I'm gonna have cake, and I'm gonna have
a cup of rose to go along with it. Hey,
not that there's anything wrong with that club. Not if
there's anything wrong with I'm gonna again. It's my birthday.
My plan is watch the college basketball National Championship game,
have some steak, have some cake, no rose plan and
(29:39):
Joe from New York City not happy with you w
o R listener talk back E fuck.
Speaker 8 (29:44):
You dirty dogs. Don't you ever talk about my ice
cream cake like that again. I will never wish you
a happy birthday ever again. Ice cream cake is the
greatest thing you could have on your birthday, besides a
beautiful woman.
Speaker 4 (29:56):
Okay, I mean I agree with the beautif a woman
comment from Joe, who was a great New Yorker listening
on WR. I just think that ice cream and cake
separated are much better combo. I don't think you need
to combine these things. I just I'm a true believer
in the cake being the cake and the ice cream
being a scoop on the side.
Speaker 2 (30:17):
Jeff in Charleston seeing off on us cut ge. Okay,
Clay and Beck, this is Jeff from Charleston. I just
have to say you both.
Speaker 4 (30:26):
Are cake losers and should never make any decisions on cake.
All right, I throw a flag here, Jeff on Charleston.
Let's say you're right, Jeff from Charleston. Let's say Clay
and I are cake losers. You gotta tell us why, Like,
are you going all in on coconut shredded on your cake?
You got to give us more to work with here
than just you guys. Are You can't just send us
(30:47):
a talkback that says we're losers, and I mean you
can and we just played it on the air. We're
losers and we're wrong. There's a comma there. Why you
gotta give us the why? Buddy? You gotta tell us
what about this? Because because we got nothing we can
fight back with. Right now, you're just saying our cake
cakes are in general terrible. I mean, maybe he's a
big german sheet cake guy who knows.
Speaker 1 (31:07):
Very careful there, Boston te's off unidentified Boston listener cut eh.
Speaker 4 (31:12):
How can Buck be from New York and not be
familiar with ice cream cake? That's where Carvel ice cream originated.
Speaker 2 (31:19):
Ice cream cake is the best. Not sure how Buck
is missing that.
Speaker 4 (31:22):
My familiarity with ice cream cake is what breeds my
contempt for it.
Speaker 2 (31:26):
That's the point.
Speaker 1 (31:28):
And some of you will producer Greg Buck is not
even in studio. I don't think today but he had
a talkback. I mean, the guy who took time off
for vacation to go watch the eclipse probably not going
to surprise anybody out there that he's a huge coconut
on cake fan cut f.
Speaker 9 (31:46):
Hi, guys, is producer Greg. I have coconut on my
cake for my birthday every year. If you guys can't
figure out that the little bit of coconut on your
cake brings the islands closer to you, I can't help you.
Speaker 1 (32:01):
Was that a cat in the background too, I mean
just definitely, it definitely was a cat in the background.
Which are sure Producer Greg is actually on our team.
Speaker 2 (32:11):
It's got cats in the background.
Speaker 1 (32:13):
Coconut he takes time off for eclipses, I don't know.
Speaker 4 (32:19):
You know, we got two We got two hockey super fans,
Producer Greg and producer Mark, and they they they go
to the mat for all you hockey fans will listen
to us and don't let us get away with any
shenanigans making, you know, talking smack about hockey. But I
just feel like people that like shredded coconut on their
cake also probably like hockey.
Speaker 2 (32:34):
That's That's where I'm coming down on this.
Speaker 1 (32:36):
I think that that's actually that those are. Producer Greg
might be the only guy who likes cocky hockey and
also is gonna go with with shredded coconuts awful.
Speaker 3 (32:47):
I don't know.
Speaker 2 (32:48):
So it's basically.
Speaker 1 (32:49):
Telling everybody at your birthday party, I hate you, but
I like this, and so everybody else has to do it.
Speaker 4 (32:58):
Talkback listener, Jay Pot Cast listener rather Luke from Colorado
on Jay hit It.
Speaker 8 (33:03):
My name is Luke from Colorado and as old as
you are, wondering if the high school mascot was your
t Rex?
Speaker 2 (33:10):
All right, whoa sevens? No high school.
Speaker 1 (33:14):
Mascots, and uh, what is your high school mascot? Actually curious?
That's not not really great?
Speaker 4 (33:19):
The Royals, that's kind of yeah, mine was not greaty
a little better the Raiders.
Speaker 1 (33:26):
The Raider is a very common, very common high school
we we had the Royals, which basically had become like
a lion, right like the Royals.
Speaker 2 (33:36):
But you know it's not I'm not gonna lie go lions?
Then why go Royals? You know, I don't know.
Speaker 1 (33:42):
It's a fantastic question. That's a great question. All right, Hey,
we love all of you. Thank you for spending Monday
with US big news to follow tomorrow. Thanks to President
Trump went all the throughout the whole show,
The Clay Travis and Buck Sexton Show News
Hosts And Creators
Clay Travis
Buck Sexton
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