Freezes

• Polymarket has frozen a $345 million betting market regarding a US-Iran ceasefire due to a dispute over the definition of the word "permanent." • Traders are currently split on whether the peace agreement meets the criteria for permanence, preventing the platform from settling the massive pool of funds. • The situation highlights the volatility and linguistic ambiguities inherent in prediction markets when resolving high-stakes geopolitical events.

• Porsche has announced plans to reduce its workforce by 1,900 positions in Germany by 2029. • The layoffs will primarily impact the Weissach research and development center and the Stuttgart-Zuffenhausen factory. • This downsizing is a strategic effort to increase efficiency and profitability, occurring amidst a potential takeover bid from Italy’s UniCredit.