In July 2010, US Senator Blanche Lincoln (D-Ark.) predicted the rise of prediction markets and the problems they could cause. If not properly regulated, Lincoln warned during Senate proceedings on the Dodd–Frank Wall Street Reform and Consumer Protection Act, prediction markets could evade gambling laws by offering "event contracts" that let people place wagers on sports games.

"It would be quite easy to construct an event contract around sporting events such as the Super Bowl, the Kentucky Derby, and Masters golf tournament," Lincoln, who played a key role in making the law that now regulates prediction markets, told fellow senators. "These types of contracts would not serve any real commercial purpose. Rather, they would be used solely for gambling."

Today, Lincoln is a lobbyist for prediction market Kalshi and has urged the Commodity Futures Trading Commission (CFTC) to allow sports gambling on the markets. The firm she founded has received $480,000 from Kalshi since 2024 in exchange for lobbying Congress and the CFTC for looser regulation of event contracts.

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TP-Link is facing more legal troubles in the US as Florida and three other states filed lawsuits alleging that it lied to consumers about its connections to China and the risks of its routers being exploited by Chinese state hackers.

The lawsuits were filed yesterday, about six months after the Federal Communications Commission announced a sweeping ban on consumer-grade routers produced wholly or partly outside of the US. Numerous router makers have obtained exemptions to the ban, but the Trump administration so far has not granted one to TP-Link.

Router makers that received exemptions include Netgear, Asus, Adtran, Amazon and its Eero subsidiary, Calix, Nokia, SpaceX's Starlink division, and others. For now, TP-Link is unable to sell its latest Wi-Fi 8 routers in the US, though models approved before the ban can still be sold.

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Paramount Skydance completed its $111 billion merger with Warner Bros. Discovery today, after a last-ditch effort to block the deal was rejected by Supreme Court Justice Elena Kagan.

The post-merger company is called Skydance, taking the name of a firm that Paramount bought in a separate deal last year. The new Skydance combines two of the largest movie studios, streaming services Paramount+ and HBO Max, CBS, CNN, "and a portfolio of live sports including CBS Sports and TNT Sports, as well as a deep programming library and expansive collection of brands and franchises," Skydance said today in a press release announcing completion of the deal.

The merger was delayed a bit by a lawsuit filed by California and 11 other states. In July, US District Judge Araceli Martínez-Olguín in the Northern District of California ruled that the combination would likely reduce competition substantially and violate antitrust laws.

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