markets

J. Edward Moreno3/23/26

Lawmakers to introduce bill banning sports contracts on prediction markets: WSJ

Sports-betting stocks rose after The Wall Street Journal reported that a bipartisan pair of lawmakers are seeking to ban Commodity Futures Trading Commission-regulated companies from offering sports-related contracts on prediction markets.

Reportedly sponsored by Sens. Adam Schiff, D-Calif., and John Curtis, R-Utah, the bill would prevent companies like Kalshi or Polymarket’s US arm from posting event contracts related to the outcome of sporting events, a market that accounts for a sizable chunk of their volumes.

Prediction markets have emerged as competitors to sports-betting platforms, which are primarily regulated at the state level, and companies like DraftKings and Flutter Entertainment have risen on the news in premarket trading.

Meanwhile, Robinhood Markets and Interactive Brokers, which both offer prediction markets covering sports and other contracts, ticked down on the news before President Trump’s latest Iran announcement sent much of the stock market jolting higher, with futures on the S&P 500 rising more than 3% in a matter of minutes.

(Robinhood Markets Inc. is the parent company of Sherwood Media, an independently operated media company subject to certain legal and regulatory restrictions. I own Robinhood stock as part of my compensation. Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)

Exclusive | Lawmakers to Introduce Bipartisan Bill Banning Sports Bets on Prediction Markets

Exclusive | Lawmakers to Introduce Bipartisan Bill Banning Sports Bets on Prediction Markets

Prediction markets have emerged as competitors to sports-betting platforms, which are primarily regulated at the state level, and companies like DraftKings and Flutter Entertainment have risen on the news in premarket trading.

Meanwhile, Robinhood Markets and Interactive Brokers, which both offer prediction markets covering sports and other contracts, ticked down on the news before President Trump’s latest Iran announcement sent much of the stock market jolting higher, with futures on the S&P 500 rising more than 3% in a matter of minutes.

(Robinhood Markets Inc. is the parent company of Sherwood Media, an independently operated media company subject to certain legal and regulatory restrictions. I own Robinhood stock as part of my compensation. Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)

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J. Edward Moreno7/7/26

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

Job growth was 57,000. Analysts foresaw job growth of 113,000; prediction markets were more optimistic, looking for job growth above 125,000 but below 150,000.

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Meta surges on report it’s starting a cloud business to sell excess AI compute

The story of the hyperscalers in 2026 has largely been “the beatings will continue until the cash flow outlook improves;” this could help change the story for Meta. Or not.

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markets

Paige Oamek6/30/26

Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

Revenue of $11.0 billion (estimate: $10.8 billion).
Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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