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The Situation Room

Trump Sues to Stop State Regulation of Prediction Markets; Stephen Colbert Says Goodbye; NASCAR Star Kyle Busch Dies. Aired 10:30a-11a ET

Aired May 22, 2026 - 10:30   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

[10:30:00]

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[10:33:33]

WOLF BLITZER, CNN HOST: Happening now, the World Health Organization raising the Ebola threat level in the Democratic Republic of Congo to very high, but saying the global risk is low.

Officials believe there could be nearly 800 cases and more than 170 Ebola-related deaths already. Aid workers say U.S. cuts to global aid programs have made it hard to quickly contain the virus. The State Department denies those claims.

And the accused mastermind of a massive COVID fraud scheme has been sentenced to more than 40 years in prison. Aimee Bock was convicted last year in Minnesota of wire fraud and bribery. Prosecutors say more than $250 million in federal funds were stolen. So far, authorities say about $50 million have already been recovered.

And more than 130 delays at LaGuardia Airport this morning after officials there found more possible areas of concern from a runway sinkhole. Repairs should be done by tomorrow morning, they say, but travelers should expect delays into the weekend, Memorial Day weekend.

New this morning, the sudden death of Kyle Busch has stunned the racing world. The two-time NASCAR Cup Series champion was expected to compete in a race this Sunday at the Charlotte Motor Speedway in North Carolina. Busch was just 41 years old.

We're covering the story with CNN Sports anchor Andy Scholes, our national correspondent Dianne Gallagher, who's in Charlotte, and CNN medical analyst Dr. Jonathan Reiner.

[10:35:08]

Andy, let me start with you. Truly a devastating loss for the world of NASCAR.

ANDY SCHOLES, CNN SPORTS ANCHOR: Yes, certainly, Wolf.

And this is just devastating news for the entire sports world. I mean, Kyle Busch, he was one of the best drivers of all time. He won 234 races across the three National Series, more than any driver in history. And Busch had just competed at Dover last weekend, and he won the Truck Series race that he was in.

And listen to the interview he gave after his win.

(BEGIN VIDEO CLIP)

QUESTION: Your 69th victory in this series, your fifth right here. Why do these moments never get old, Kyle?

KYLE BUSCH, NASCAR DRIVER: Because you never know when the last one is. So...

(END VIDEO CLIP)

SCHOLES: And certainly powerful words now.

At the end of the Cup Series race on May 10, Busch, he had radioed into his crew saying that he wanted to see a doctor right after the race. He had been battling a sinus cold earlier Thursday. His family posted on social media that he was hospitalized with a severe illness, but they did not specify what that illness was.

Busch, as I mentioned, won 234 races. He won 63 Cup Series races, which is ninth all time, and he won two Cup Championships back in 2015 and 2019. And he was as consistent as they come. Busch holds the all- time NASCAR record with 19 consecutive seasons with at least one victory. He did that from 2004 to 2023.

And in a statement, NASCAR said it was heartbroken by the sudden loss, adding: "A future Hall of Famer. Kyle was a rare talent, one who comes along once in a generation. He was fierce. He was passionate. He was immensely skilled and he cared deeply about the sport and fans."

And so many in the racing world are in disbelief at this news, Clint Bowyer one of them. He posted on X, saying: "I just talked to him Friday. In complete shock, as we all are. The devastation and sadness is beyond words."

Now, Busch, who's the younger brother of NASCAR Hall of Famer Kurt Busch, he survived by his wife, Samantha, had two young children, Brexton and Lennix, Busch just 41 years old. NASCAR officials say the Coca-Cola 600, which Busch was scheduled to compete in, it's still going to go on as planned on Sunday.

But, Wolf, they're surely going to be paying tribute to Busch, who was one of the best drivers the sport has ever seen.

BLITZER: Yes, our deepest, deepest condolences to his loving family. As we say, may he rest in peace and may his memory be a blessing.

Andy Scholes, thank you very much for that report.

Busch is being honored, as he should be, across the sports world, including the NHL. The Carolina Hurricanes held this tribute before game one of their Eastern Conference Finals against the Montreal Canadiens.

(BEGIN VIDEO CLIP)

ANNOUNCER: Today, the sports world lost a legend. Kyle Busch, two- time NASCAR Cup Series Champion, passed away this afternoon at the age of 41. Our thoughts are with his family, friends and fans around the world.

(END VIDEO CLIP)

BLITZER: Dr. Reiner, Andy mentioned the radio call during a Cup Series race on May 10 requesting some medical aid and a shot after the event.

I'm going to play for you and for our viewers now some audio from that call. Listen to this.

(BEGIN AUDIO CLIP)

BUSCH: And can somebody try to find Bill Heisel? He's the kindred doctor guy. Tell him I need him after the race, please.

TEAM MEMBER: Hey, do you want Mr. Bill at your car or in the -- at your bus after the race?

BUSCH: Bus. I'm going to need a shot.

TEAM MEMBER: Copy. He's going to -- he will be at your bus.

(END AUDIO CLIP)

BLITZER: According to the broadcast, Kyle Busch had been struggling with a sinus cold made worse by the g-forces and elevation changes out there on the racetrack.

We don't know yet the illness that led to his hospitalization, and the cause of death has not been publicly released. As a physician, what stands out to you, Dr. Reiner?

DR. JONATHAN REINER, CNN MEDICAL ANALYST: Well, first of all, my heart goes out to Mr. Busch's family in this really terrible time.

It's hard to know what to make of Mr. Busch's symptoms from two weeks ago, when he -- when he seemed to complain of some sinus symptoms and whether that was a runniness in his nose or whether it was shortness of breath.

The Associated Press this morning reported that Mr. Busch collapsed in a Chevrolet simulator two days ago and was taken to the hospital after that kind of acute event. And if that is indeed true, then that suggests something more in line with a cardiovascular, sudden cardiovascular event, like an unstable heart arrhythmia or even something like a pulmonary embolism.

You may remember that, in 2003, NBC journalist David Bloom died from a pulmonary embolism after being essentially confined in an armored personnel carrier for extended periods of time in Iraq. And a pulmonary embolism can do this too. Let me emphasize that I don't know -- I don't know what killed him. He was 41 years old.

[10:40:03]

But cardiovascular events can happen to young people, either as a consequence of a primary sort of electrical abnormality in the heart, or as a consequence of the heart not getting enough blood.

I'm fairly confident that the cause of his death will be ascertained by the doctor -- either by the doctors who took care of him during his short hospital stay or by a medical examiner. But his cause of death will, I'm sure, be understood.

BLITZER: Yes, I suspect you're absolutely right.

Dr. Reiner, thank you very, very much.

And, Dianne, you're there in Charlotte. Kyle and his wife, Samantha, were huge advocates for IVF. They appeared on Tamron Hall's show back in 2021, where they shared their story and infertility struggles with the world. Listen to this.

(BEGIN VIDEO CLIP)

TAMRON HALL, HOST: People associate you with NASCAR and that macho culture. How freeing was it to talk about this?

BUSCH: I mean, obviously, it's a challenge. Anything that you look at in fertility is a challenge. And, as we have always kind of been very open, our lives are literally broadcast on television each and every weekend, being out there and being a part of a national sport.

But the personal journey and the -- everything you want to keep under the towel for infertility and stuff, we -- when we were starting to go through it, we were trying to research and look about it and find out some information and, well, what does this mean? Where do we go? And there wasn't a whole lot out there and there wasn't a true from-start- to-finish-told story that we could really find.

And we had to piece together a lot of information. So I think that's where Samantha comes into play with sharing our story, putting it all out there.

(END VIDEO CLIP)

DIANNE GALLAGHER, CNN NATIONAL CORRESPONDENT: And they started...

BLITZER: So, Dianne, what can you tell us? What else can you tell us about the Busch family charity work for families?

GALLAGHER: Yes. Yes, Kyle and Samantha started the Bundle of Joy Fund back in 2015, when Brexton, their oldest son, was born after repeated failures and difficulties with IVF and infertility.

And, look, that is going to be -- beyond all of the stats and, look, the legendary driver that Kyle is or was on the track, they have more than 100 children today that have been born thanks to their efforts in giving these grants to people to help them grow their families.

Now, today, we are seeing all sorts of donations just pour in, many people using denomination combinations of 18, eight, 51, all numbers made famous by Kyle Busch. I will say that Kyle and Samantha actually helped my husband and I going through recurrent miscarriages through talking to us during some of those events for Bundle of Joy.

It has always been a joy for us to participate in those events ourselves, and not just the money that they raised. But that awareness, Kyle Busch talking about infertility as a man, when many people were not, making others feel OK about speaking on a subject that is so difficult and so stigmatizing for so many, that is a true impact that will continue on.

BLITZER: He and his family had a huge impact, IVF, in vitro fertilization.

Dianne Gallagher, thank you very, very much.

And coming up here in THE SITUATION ROOM: the end of a television era, Stephen Colbert's final message, his final guest, and his final goodbye, as "The Late Show" fades to black.

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[10:47:42]

BLITZER: The lights are dark over the Ed Sullivan Theater in New York after Stephen Colbert hosted the final episode of "The Late Show."

It was a very poignant and star-studded finale after CBS's shocking announcement last July that it would cancel the often top-rated show. Ticket holders shared their thoughts before the taping yesterday.

(BEGIN VIDEO CLIP)

ALAN TIPERT, GEORGIA RESIDENT: I came all the way up from the Deep South to come witness the death of free speech.

GRANT PLOTKIN, NEW YORK RESIDENT: The industry is shifting.

QUESTION: Yes.

PLOTKIN: And so I think that has to be accounted for. But I do think it feels unceremonious in nature.

QUESTION: Yes.

(END VIDEO CLIP)

BLITZER: Several VIPs stopped by as well. They were hoping to be Colbert's final interview.

(BEGIN VIDEO CLIP) BRYAN CRANSTON, ACTOR: Maybe I could be your last guest.

STEPHEN COLBERT, HOST, "THE LATE SHOW WITH STEPHEN COLBERT": We already have a pretty special one lined up. I'm sorry.

(LAUGHTER)

CRANSTON: Then what the hell am I here for?

COLBERT: It's not -- it's not you either, Tim.

TIM MEADOWS, ACTOR: Screw you, Colbert!

(LAUGHTER)

(APPLAUSE)

MEADOWS: You know what? You got what you deserve!

COLBERT: Ryan...

(APPLAUSE)

COLBERT: Ryan, it's great to see you, but I hate to tell you, buddy, you're not my last guest.

RYAN REYNOLDS, ACTOR: Ouchie.

COLBERT: The pope, who was definitely my guest tonight, has canceled.

(LAUGHTER)

COLBERT: Who's going to be my last guest now?

PAUL MCCARTNEY, MUSICIAN: Hey, Steve, what about me?

(CHEERING)

(END VIDEO CLIP)

BLITZER: Sir Paul McCartney's appearance comes full circle. His performance with the Beatles on the very same stage back in 1964 -- and I remember that moment -- it was a watershed moment in popular culture.

And he didn't come empty-handed last night. Listen.

(BEGIN VIDEO CLIP)

MCCARTNEY: I brought something for you.

COLBERT: You brought something for me?

MCCARTNEY: Something for you.

(CHEERING) COLBERT: Is that here?

MCCARTNEY: That's here.

(CROSSTALK)

COLBERT: That's here?

MCCARTNEY: Right here.

COLBERT: Wow.

MCCARTNEY: There we are.

COLBERT: "To Stephen, you're better than the Beatles."

And when you close your eyes, do you hear the girls screaming?

(LAUGHTER)

MCCARTNEY: Yes.

(CHEERING)

(LAUGHTER)

COLBERT: OK. OK.

MCCARTNEY: That was it.

(END VIDEO CLIP)

[10:50:00]

BLITZER: Our chief media analyst, Brian Stelter, is with us right now.

Brian, Colbert's cancellation is the end of an era in late-night television, I think it's fair to say. What does this mean for the industry and the shows still on the air?

BRIAN STELTER, CNN CHIEF MEDIA CORRESPONDENT: Yes, well, in the short term, Jimmy Kimmel at ABC and Jimmy Fallon at NBC, they might benefit from having one fewer competitor on the late-night airwaves.

Some Colbert fans will probably gravitate toward Kimmel and his anti- Trump commentary in particular. But competition has historically made late night better. It makes these shows funnier and more interesting. So this is a bleak moment for the late-night TV industry writ large.

And the problem, Wolf, is fundamentally an advertising problem. We don't usually talk about it this way, but because the media world has fragmented, splintered into a million bite-sized pieces, with everyone getting customized, personalized feeds of content on their phones, advertisers now have so many more ways to get in front of viewers. And that is why CBS was ultimately not able to make as much money

anymore with an expensive, big production like "The Late Show." So the business model pressure is real. But the political pressure is real too.

And we heard overnight from President Trump, who had wanted Colbert pushed out for years and has now finally gotten what he wanted. The president posting at 1:52 a.m. Eastern time -- quote -- "Colbert is finally finished at CBS. Amazing that he lasted so long. No talent, no ratings, no life. He was like a dead person. You could take any person off of the street and they would be better than this total jerk. Thank goodness he's finally gone."

So that's the president cheering the loss of American jobs. About 200 staffers will be out of work now that the "Late Show" lights have been turned off, not that the Ed Sullivan Theater is being emptied. A much cheaper comedy roundtable show from Byron Allen is going to take the place of "The Late Show."

So we see a situation now in the U.S. where regulated environments like CBS, which has local stations regulated by the federal government, are increasingly wary of having political commentary on the air, although I will note ABC is standing very firm supporting Kimmel, despite Trump's attempts to get Kimmel fired.

So, regulated environments might be more skittish right now, but unregulated environments, the likes of Netflix and YouTube, we see political commentary flourishing there. And analysts believe Stephen Colbert will have no shortage of options if he wants to set up shop and start a new show somewhere else, Wolf.

BLITZER: Yes. And we will find out what he does next.

All right, Brian Stelter, thank you very, very much.

(LAUGHTER)

BLITZER: And here's what's coming up here in THE SITUATION ROOM during our all-new top of the hour that's coming up.

President Trump is set to swear in his new Federal Reserve chairman.

Plus, the $800 million of suspicious oil trades made only moments before a big announcement on Iran that triggered a federal probe.

And, as A.I. changes the work force, we have new reporting coming in on how you can A.I.-proof your job, information you need to know. That's all new coming up in the next hour.

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[10:57:08]

BLITZER: Happening now: The Trump administration is suing multiple states to block them from banning prediction markets like Kalshi and Polymarket. These online sites allow users to trade on real-world events like

sports, politics, pop culture. The market is structured as an event contract, where users typically place money around a yes-or-no question.

CNN senior reporter Marshall Cohen is here with us in THE SITUATION ROOM.

Marshall, this is just one flash point in a nationwide battle over prediction sites. What more are you learning?

MARSHALL COHEN, CNN SENIOR REPORTER: Wolf, you're absolutely right.

These companies are exploding in popularity right now. They do billions of dollars in weekly trading volume. And it's important to remember that they actually are regulated technically as financial markets. They're not considered gambling under the current law, which means they are only regulated by the federal government and not the states.

And that's why some of the states are trying to crack down. We just saw, as you mentioned, in Minnesota, the governor there, Tim Walz, signed a ban on all prediction markets earlier this week, and he was met instantly with a lawsuit from the Trump administration.

But it's bigger than Minnesota. Look at this map. There are actually six states across the country where the Trump administration has sued to stop states from regulating prediction markets. And it's interesting. If you look closely, those are all Democratic-run states, but there are a lot of Republican-run states too that want to rein these companies in and haven't been sued.

Wolf, that bipartisan concern was on full display earlier this week at a Senate hearing. Take a listen.

(BEGIN VIDEO CLIP)

SEN. JOHN HICKENLOOPER (D-CO): The CFTC has literally no experience in regulating sports betting. Even worse, the CFTC has failed to use the authority it does have.

SEN. JOHN CURTIS (R-UT): I take a close interest whenever platforms begin offering something that feels like gambling, that talks like gambling, that smells like gambling.

SEN. TAMMY BALDWIN (D-WI): Wisconsin tribes offering these exact same services operate under multiple state and federal regulations.

SEN. TED CRUZ (R-TX): The courts are split. Ultimately, unless Congress acts, the Supreme Court may have to decide the issue.

(END VIDEO CLIP)

COHEN: Wolf, we will see if all this talk turns into action.

And, of course, for full disclosure, CNN has a partnership with Kalshi. We use their data to cover major events, but we are not allowed to use their prediction sites.

BLITZER: All right, thanks very much, Marshall Cohen, reporting for us.

And the next hour of THE SITUATION ROOM starts right now.

Happening now, breaking news: Republican revolt. President Trump's own party is pushing back hard on the so-called anti-weaponization fund. But sources tell us the White House is moving full steam ahead.

And tracking suspicious trades, massive bets on the oil market worth hundreds of millions of dollars all coming right before big announcements in the war with Iran. And now federal regulators want to figure out what's going on.