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February 19, 2026

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Genesis Minerals (ASX:GMD,OTCPL:GSISF) has struck a recommended deal to acquire Magnetic Resources (ASX:MAU) in a transaction that would add more than 2 million ounces of high-grade gold to its Laverton inventory and reshape its production growth outlook in Western Australia.

Under a binding Scheme Implementation Deed announced Tuesday (February 17), Genesis will acquire 100 percent of Magnetic via a court-approved scheme of arrangement. The offer values Magnetic at approximately US$450 million on a fully diluted basis.

At the centre of the deal is Magnetic’s flagship Lady Julie gold project in the Laverton region, which hosts a mineral resource of approximately 2.2 million ounces grading 1.8 grams per tonne (g/t) gold, and ore reserves of around 1 million ounces at 1.7 g/t. The project sits roughly 20 kilometres from Genesis’ operating 3 million tonne per annum Laverton mill.

“This transaction creates substantial value for both groups of shareholders, delivering genuine synergies while combining the right assets with the right people,” Genesis Executive Chair Raleigh Finlayson said.

“Magnetic’s Lady Julie Gold Project will add more than 2Moz at an attractive high grade to Genesis’ Laverton inventory, further bolstering the mine life and production outlook.”

Lady Julie’s northern boundary adjoins ground recently acquired by Genesis through its purchase of Focus Minerals’ (ASX:FML,OTCPL:FCSUF) Laverton gold project, creating the potential to integrate what would otherwise be neighbouring standalone developments into a larger open pit operation.

Genesis said removing tenement boundaries between the assets presents tangible cost and operational synergies. The acquisition would expand its Laverton mineral resources to approximately 8.4 million ounces, representing a 40 percent increase, and lift its pro forma total mineral resources to 21 million ounces.

The company signaled that the deal could support an uplift to its “ASPIRE 500” growth strategy, with an updated multi-year plan expected following completion.

Magnetic Managing Director George Sakalidis said the deal follows a strategic review exploring development pathways for Lady Julie: “Genesis’ offer follows a strategic review which the Board and its advisers have been working on for several years to explore potential options to collaborate with other operators which have the existing skill set or combination synergies to develop Magnetic’s discoveries and unlock value for our shareholders.’

If implemented, Magnetic shareholders would own approximately 2.4 percent of the enlarged Genesis. Major shareholders representing about 19.6 percent of Magnetic’s issued shares have already committed to vote in favour of the scheme, subject to customary conditions.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

President Donald Trump praised civil rights activist Jesse Jackson as a ‘real hero’ during a White House Black History Month event Wednesday, just a day after Jackson’s death.

‘I wanted to begin by expressing a sadness that the passing of a person who was. I knew very well Jesse was a piece of work. He was a piece of work. But he was a good man. He was a real hero,’ Trump said on Wednesday, earning cheers from the audience. 

Trump hosted leaders from the Black community at the White House Wednesday to honor Black History Month in February. He remarked as the event kicked off that there was a ‘sold-out crowd’ and that the upcoming White House ballroom would accommodate far more people. 

Trump had lamented Jackson’s death in a prior Truth Social post Tuesday, elaborating on Wednesday that the pair’s relationship got ‘better and better all the time.’

‘A lot of people you get to know, they get worse and worse. Jesse got better and better. But I knew him well long before becoming president, and he really was special, with lots of personality, grit and street smarts,’ Trump continued. 

Jackson, 84, died Tuesday. His cause of death has not been identified, but he had suffered from health issues including living with a rare neurological condition.

Jackson was a two-time Democratic presidential candidate, and longtime civil rights leader who joined Dr. Martin Luther King Jr. in the 1960s before his assassination, and was the founder of civil rights group, Rainbow/PUSH Coalition. 

‘I will tell you, he was gregarious and someone who truly loved people and a force of nature, who is, somebody that we’re going to greatly miss. And on behalf of everyone here today, I know you join me in sending our condolences to the entire family,’ Trump continued. 

Wednesday’s event included celebrating the legacy of Black Americans, economic wins under the Trump administration, as well as Trump reigniting his 2025 announcement that former Department of Housing and Urban Development Secretary Ben Carson, who served under Trump’s first term, would receive the Presidential Medal of Freedom.  

‘Ben’s getting the Presidential Medal of Freedom. It’s the highest award you can have outside of the Congressional Medal of Honor,’ Trump said.

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The president of a Florida insurance brokerage firm and the CEO of a marketing company were sentenced Wednesday to 20 years each in prison for leading a sprawling, $233 million Affordable Care Act fraud scheme that preyed on Florida’s most vulnerable residents — including homeless and jobless individuals and newly displaced hurricane victims — to pocket millions in unearned commissions.

Cory Lloyd, 46, of Stuart, Florida, and Steven Strong, 42, of Mansfield, Texas, were convicted of conspiracy and fraud for their roles in the scheme, which involved lying and falsifying government forms to obtain coverage for individuals and lying to or bribing would-be enrollees to sign up for plans even when they knew doing so would cost them their existing insurance coverage. In addition to their prison time, the pair were ordered to pay $180.6 million in restitution to their victims. 

Lloyd and Strong profited handsomely for years from the scheme, Justice Department officials said, using the proceeds to purchase luxury vehicles, an 80-foot yacht and an oceanfront home in the Florida Keys.

‘Preying upon medically compromised consumers to rob hundreds of millions of taxpayer-funded programs is evil and unforgivable,’ Attorney General Pam Bondi told Fox News Digital in a statement. 

‘Fraud schemes like this rob citizens and shake faith in our institutions. Today’s sentencing is the latest example of this DOJ’s commitment to fighting fraud nationwide,’ Bondi said.

An estimated 35,000 individuals were fraudulently enrolled in Affordable Care Act plans during the years-long scheme led by Lloyd and Strong, Justice Department officials with knowledge of the case told Fox News Digital. The two sought more than $233 million in fraudulent payments, including about $180 million in federal Affordable Care Act funding.

‘These defendants were sophisticated, licensed insurance brokers,’ Assistant Attorney General A. Tysen Duva of the Justice Department’s Criminal Division said in a statement. 

‘They had everything and intentionally took advantage of people who had nothing. The message from these sentences is simple: Those who seek to line their own pockets with taxpayer dollars, victimize our most vulnerable and deplete federal programs will be held accountable.’

The two intentionally targeted people in the state who were experiencing homelessness and people experiencing mental health disorders, including addiction to opioids or other drugs, according to materials reviewed by Fox News Digital. 

Prosecutors said at trial that Lloyd and Strong conspired to circumvent federal income and eligibility verification safeguards. They also intentionally submitted Medicaid applications designed to trigger denials, allowing them to steer those same individuals into fully subsidized Affordable Care Act plans outside the open enrollment period, maximizing commissions year-round.

Their lavish lifestyle contrasted starkly with that of the individuals they lied to and scammed. 

‘One of the really awful things about the case is that it’s not only a scheme that’s taking money from the elderly and the disabled and defrauding the taxpayers, but that it actually resulted in real harm to the patients as well,’ one Justice Department official said in an interview.

That harm included individuals losing access to life-saving treatments for opioid use disorders, mental health disorders and serious infectious diseases.

Text messages introduced at trial showed Strong and Lloyd discussing sending ‘street marketers’ into Florida hurricane shelters to recruit enrollees.

In one text exchange, Strong suggested sending their team of ‘street marketers’ into Florida hurricane shelters to recruit enrollees. Lloyd responded enthusiastically, stating, ‘It’s a killer idea, if we could pull it off!’

Prosecutors said the efforts were particularly harmful because they disrupted existing coverage plans and jeopardized access to treatment for serious conditions.

Many of the victims were experiencing homelessness or unemployment or qualified for Medicaid coverage — an insurance option for low-income or vulnerable populations that, in many cases, best suited their needs.

Jurors heard from a Jacksonville-based psychiatrist who treats homeless individuals and testified about the harm some of his patients suffered as a result of the fraud, which caused them to lose their Medicaid coverage.

This included an individual ‘living in the woods behind Walmart’ who was suffering from schizoaffective disorder, a person familiar with the case told Fox News Digital.

Like others, this individual had previously been enrolled in Medicaid, which covered the entirety of a $2,000 shot used to treat the schizoaffective disorder. Enrollment in an Affordable Care Act plan caused the individual to lose that coverage.

The sentencing comes as the Justice Department has moved aggressively to crack down on healthcare fraud, including through its ongoing ‘strike force’ program that operates across 25 federal districts and has resulted in criminal charges against about 5,000 individuals, according to information shared with Fox News Digital.

It also comes as the DOJ’s Health Care Fraud Unit secured the largest national healthcare fraud takedown in its history in 2025, officials said, charging more than $15 billion in alleged losses and forfeitures and returning more than $560 million to the public.

Justice Department officials noted the amount is ‘many, many, many times our annual budget.’

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The debate over U.S. missile defense is increasingly focused on space, and defense experts argue that stopping threats in the earliest moments after launch could determine whether the homeland remains protected against Russia and China’s expanding arsenals.

At a policy discussion marking roughly a year since the rollout of the ‘Golden Dome’ homeland defense initiative, former senior defense officials said the United States can no longer rely primarily on deterrence and retaliation to shield the country from missile attacks.

‘I think geography is no longer’ a shield, former Air Force Undersecretary Kari Bingen said during a C-SPAN panel Friday. ‘There are different types of threats that can reach the homeland.’

The Golden Dome initiative stems from a January 2025 executive order signed by President Donald Trump directing the Pentagon to accelerate development of a next-generation homeland missile defense architecture. The order calls for integrating existing ground-based interceptors with advanced tracking networks, new space-based sensors and potentially space-based interceptors capable of detecting and defeating ballistic, cruise and hypersonic missile threats earlier in flight.

Administration officials have framed the effort as a response to rapid modernization by Russia and China. 

Russia has fielded new intercontinental ballistic missiles and hypersonic glide vehicles designed to penetrate missile defenses, while China has expanded its nuclear arsenal and constructed hundreds of new missile silos in recent years. 

Both countries have invested heavily in maneuverable reentry vehicles and countermeasures intended to complicate U.S. interception efforts.

Stopping missiles early

Supporters of a stronger space layer argue that intercepting a missile early in flight — before it can deploy warheads or countermeasures — simplifies the defensive challenge and reduces the strain on systems closer to U.S. territory.

‘It gives the ability to neutralize before they manifest here at home,’ missile defense expert Thomas Karako said, referring to space-enabled capabilities that could track and potentially intercept threats sooner in their trajectory.

Karako said there is ‘a compelling case’ for space-based interceptors ‘not just against nonnuclear attack but even limited nuclear attacks,’ arguing that raising the threshold for adversaries contemplating a strike strengthens deterrence overall.

‘If you raise the threshold for having enough capability to meaningfully invest in enemies … there’s goodness in there,’ he said.

Panelists emphasized that the objective is not absolute protection against thousands of intercontinental ballistic missiles, but improving the odds of defeating smaller or more limited attacks, including those that could involve large salvos or advanced countermeasures.

Threats are evolving

Melissa Dalton, a former senior Pentagon official, said missile and drone use has become increasingly normalized in recent conflicts, lowering the perceived threshold for employment.

‘They don’t respect the boundaries,’ Dalton said, noting the growing frequency of missile and drone attacks.

Bingen argued that the U.S. historically leaned heavily on the threat of retaliation to deter attacks but that changing technologies and adversary capabilities require a broader approach.

‘Americans would be surprised how reliant we have been on vulnerability and retaliation,’ she said.

Space and integration challenges

While space-based missile defense once drew skepticism due to cost and technical hurdles, Karako said advances in commercial launch and satellite technology have changed the feasibility calculus.

‘This is not the Soviet Union in the ’80s or the ’90s,’ he said. ‘The technology has evolved quite a bit.’

Still, experts acknowledged that integration — linking sensors, interceptors and command-and-control systems at machine speed — may be the most difficult challenge.

‘We have to remember this is a layered defense system,’ Bingen said. ‘We’re not asking the space layer to do it all.’

Participants also stressed that any major expansion of homeland missile defense will require bipartisan political support to endure through election cycles and shifting budget priorities.

‘If you don’t persuade people what it’s about, it will never be built,’ Karako said.

Officials have floated an aggressive timeline — including a three-year push to stand up initial capabilities — but the Golden Dome is still in early development, with much of the work focused on planning, prototypes and initial contracts. Significant technical and acquisition hurdles remain, particularly for any space-based interceptor layer, which defense officials acknowledge would take years to fully field.

The effort marks a broader shift in how the U.S. approaches homeland defense. Rather than relying mainly on midcourse interceptors and the threat of retaliation, Golden Dome is designed to push defenses earlier in a missile’s flight — and further into space — with the goal of stopping threats before they can deploy countermeasures or overwhelm existing systems.

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: This was the kind of prison break officials say could have changed the region, and perhaps even the world, overnight.

Nearly 6,000 ISIS detainees, described by a senior U.S. intelligence official as ‘the worst of the worst,’ were being held in northern Syria as clashes and instability threatened the Kurdish-led Syrian Democratic Forces, the guards responsible for keeping the militants locked away and preventing a feared ISIS resurgence. U.S. officials believed that if the prisons collapsed in the chaos, the consequences would be immediate.

‘If these 6,000 or so got out and returned to the battlefield, that would basically be the instant reconstitution of ISIS,’ the senior intelligence official told Fox News Digital.

In an exclusive interview, the official walked Fox News Digital step by step through the behind-the-scenes operation that moved thousands of ISIS detainees out of Syria and into Iraqi custody, describing a multi-agency scramble that unfolded over weeks, with intelligence warnings, rapid diplomacy and a swift military lift.

The risk, the official explained, had been building for months. In late October, Director of National Intelligence Tulsi Gabbard began to assess that Syria’s transition could tip into disorder and create the conditions for a catastrophic jailbreak.

The ODNI sent the official to Syria and Iraq at that time to begin early discussions with both the SDF and the Iraqi government about how to remove what the official repeatedly described as the most dangerous detainees before events overtook them.

Those fears sharpened in early January as fighting erupted in Aleppo and began spreading eastward. Time was running out to prevent catastrophe. ‘We saw this severe crisis situation,’ the official said.

According to the source, the ODNI oversaw daily coordination calls across agencies as the situation escalated. The official said Secretary of State Marco Rubio was ‘managing the day to day’ on policy considerations, while the ODNI drove a working group that kept CENTCOM, diplomats and intelligence officials aligned on the urgent question: how to keep nearly 6,000 ISIS fighters from slipping into the fog of war.

The Iraqi government, the official said, understood the stakes. Baghdad had its own reasons to move quickly, fearing that if thousands of detainees escaped, they would spill across the border and revive a threat Iraq still remembers in visceral terms.

The official described Iraq’s motivation bluntly: leaders recognized that a massive breakout could force Iraq back into a ‘2014 ISIS is on our border situation once more.’

The U.S. Embassy in Baghdad, the official said, played a pivotal role in smoothing the diplomatic runway for what would become a major logistical undertaking.

Then came the physical lift. The official credited CENTCOM’s surge of resources to make the plan real on the ground, saying that ‘moving in helicopters’ and other assets enabled detainees to be removed in a compressed timeframe.

‘Thanks to the efforts… moving in helicopters, moving in more resources, and then just logistically making this happen, we were able to get these nearly 6000 out in the course of just a few weeks,’ the official said.

The SDF, he said, had been securing the prisons, but its attention was strained by fighting elsewhere, fueling U.S. fears that a single breach could spiral into a mass escape. Ultimately, detainees were transported into Iraq, where they are now held at a facility near Baghdad International Airport under Iraqi authority.

The next phase, the official said, is focused on identification and accountability. FBI teams are in Iraq enrolling detainees biometrically, the official said, while U.S. and Iraqi officials examine what intelligence can be declassified and used in prosecutions.

‘What they were asking us for, basically, is giving them as much intelligence and information that we have on these individuals,’ the official said. ‘So right now, the priority is on biometrically identifying these individuals.’

The official said the State Department is also pushing countries of origin to take responsibility for their citizens held among the detainees.

‘State Department is doing outreach right now and encouraging all these different countries to come and pick up their fighters,’ he said.

While the transfer focused strictly on ISIS fighters, the senior intelligence official said families held in camps such as al-Hol were not part of the operation, leaving a major unresolved security and humanitarian challenge.

The camps themselves were under separate arrangements, the official said, and responsibility shifted as control on the ground evolved. 

According to the official, the Syrian Democratic Forces and the Syrian government reached an understanding that Damascus would take over the al-Hol camp, which holds thousands of ISIS-affiliated women and children.

‘As you can see from social media, the al-Hol camp is pretty much being emptied out,’ the official said, adding that it ‘appears the Syrian government has decided to let them go free,’ a scenario the official described as deeply troubling for regional security. ‘That is very concerning.’

The fate of the families has long been viewed by counterterrorism officials as one of the most complicated, unresolved elements of the ISIS detention system. Many of the children have grown up in camps after ISIS lost territorial control, and some are now approaching fighting age, raising fears about future radicalization and recruitment.

For now, the official said, intelligence agencies are closely tracking developments after a rapid operation that, in their view, prevented thousands of experienced ISIS militants from reentering the battlefield at once and potentially reigniting the group’s fighting force. 

‘This is a rare good news story coming out of Syria,’ the official concluded.

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A Washington, D.C., grandmother who lost her grandson to gun violence delivered a fiery defense of President Donald Trump during a Black History Month celebration Wednesday at the White House.

Forlesia Cook’s grandson, Marty William McMillan Jr., was killed in 2017 at the age of 22. Cook has since spoken publicly about the loss, including testifying before Congress about his killing.

After Trump invited Cook to say a few words at the event, she used the moment to defend him, urging critics to ‘get off the man’s back.’

‘I love him, I don’t want to hear nothing you got to say about that racist stuff,’ she said. ‘And don’t be looking at me on the news, hating on me because I’m standing up for somebody that deserves to be standing for.’

Cook’s voice grew louder as she continued.

‘Get off the man’s back,’ she said. ‘Let him do his job. He’s doing the right thing. Back up off him.’

She ended her remarks by declaring, ‘And grandma said it.’

The East Room crowd erupted in applause and cheers.

Trump appeared to welcome the praise, joking that she should run for public office.

‘Wow, that’s pretty good,’ Trump said. ‘When is she running for office? Forlesia, when are you running for office? You have my endorsement.’

Cook also thanked Trump for calling the National Guard to the capital and praised his tough-on-crime approach.

‘One thing I like about him, he keeps it real, just like grandma,’ she said. ‘I appreciate that because I can trust him.’

The White House event marked the annual celebration of Black History Month.

Trump also addressed the death of the Rev. Jesse Jackson, saying, ‘I wanted to begin by expressing a sadness at the passing of a person who was, I knew very well, Jesse was a piece of work. He was a piece of work, but he was a good man.’

‘I just want to pay my highest respects to Reverend Jesse Jackson,’ Trump added, calling him ‘a real hero’ and saying, ‘he really was special, with lots of personality, grit and street smarts.’

The president also announced that former Housing and Urban Development (HUD) Secretary Ben Carson would receive the Presidential Medal of Freedom.

Fox News Digital’s Jasmine Baehr contributed to this report.

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The operator of roughly 180 Eddie Bauer stores across the U.S. and Canada has filed for Chapter 11 bankruptcy protection, blaming declining sales and a litany of other industry headwinds.

The bankruptcy filing marks the third time in a little over two decades for the storied-but-now-tired brand that began as a Seattle fishing shop, later outfitted the first American to climb Mount Everest and made thousands of newfangled down jackets and sleeping bags for the military during World War II.

Eddie Bauer LLC said Monday it had entered into a restructuring pact with its secured lenders as it made the filing in the U.S. Bankruptcy Court for the District of New Jersey.

Most Eddie Bauer retail and outlet stores in the U.S. and Canada will remain open as the company winds down certain locations. It noted that it will conduct a court-supervised sales process, and if a sale can’t be executed, it will begin a wind-down of its U.S. and Canadian operations.

“This is not an easy decision,” said Marc Rosen, CEO of Catalyst Brands, which maintains the license to operate Eddie Bauer stores in the U.S. and Canada. “However, this restructuring is the best way to optimize value for the retail company’s stakeholders and also ensure Catalyst Brands remains profitable and with strong liquidity and cash flow.”

Eddie Bauer’s stores outside of the U.S. and Canada are operated by other licensees, are not included in the Chapter 11 filings, and will stay open, according to the release.

Authentic Brands Group continues to own the intellectual property associated with the Eddie Bauer brand and may license the brand to other operators, the company said. The operations of other brands in the Catalyst Brands portfolio are not affected by this filing and will continue in the normal course, according to the company.

Eddie Bauer’s e-commerce and wholesale operations will also not be impacted by the wind down, as they are operated by a company called Outdoor 5, LLC. That was a transition it made in January and became effective Feb. 2.

Eddie Bauer joins a growing list of U.S. retailers this year that are closing stores, as companies reorganize under bankruptcy protection or pare down their operations to focus on the most profitable businesses.

The parent company of Saks Fifth Avenue said last month that it was seeking bankruptcy protection, buffeted by rising competition and the massive debt it took on to buy its rival in the luxury sector, Neiman Marcus, just over a year ago. A few days later, the parent company said it was closing most of its Saks Off 5th stores.

Amazon said earlier this month that it was closing almost all of its Amazon Go and Amazon Fresh locations within days as it narrows its focus on food delivery and its grocery chain, Whole Foods Market.

Eddie Bauer’s namesake founder — an avid outdoorsman — started the company in Seattle in 1920 as Bauer’s Sports Shop, according to the brand’s website. In 1945, after making more than 50,000 jackets for the military, it launched a mail-order catalog.

“Bauer’s Sports Shop was not just a place where people purchased clothing and gear, it was a community hub where folks gathered to share their wisdom, learn, and talk about their experiences in the outdoors,” the website says.

The company created an American goose-down insulated jacket, known as the “Skyliner,” in 1936, and it became the company’s first patented jacket. It also outfitted the first American to climb Mount Everest — James W. Whittaker — with an Eddie Bauer parka in 1963.

After Bauer retired in 1968 and sold the business to his partner, the outdoor brand shifted more toward casual apparel and was bought by General Mills Inc. in 1971 and then by Spiegel Inc. in 1988. After Spiegel filed for bankruptcy in 2003 and most of its assets were sold, the remainder of the company was reorganized in 2005 as Eddie Bauer Holdings Inc.

In June 2009, Eddie Bauer filed bankruptcy and was acquired by Golden State Capital, the following month. In 2021, it was acquired by Authentic Brands and SPARC Group LLC.

A year ago, Catalyst was formed by the merger of SPARC and JCPenney, which Simon Property Group and fellow mall landlord Brookfield bought out of bankruptcy.

Rosen noted that even prior to the inception of Catalyst Brands last year, Eddie Bauer was in a “challenged situation.”

“Over the past year, these challenges have been exacerbated by various headwinds, including increased costs of doing business due to inflation, ongoing tariff uncertainty, and other factors,” he said.

He noted that while Catalyst’s leadership was able to make improvements in product development and marketing, those changes could not be implemented fast enough to fully address the problems created over several years.

Eddie Bauer had nearly 600 stores at its peak in 2001, according to CoStar Group Inc., a commercial real estate data firm.

In a note published earlier this month, Neil Saunders, managing director of GlobalData Retail, wrote that while the Eddie Bauer name is “well known,” the brand hasn’t kept pace with rivals like Swedish outdoor brand Fjallraven and Canadian label Arc’teryx. He also cited issues with quality deteriorating, which, for an outdoor brand measured by the performance of its products, is very problematic.

“And for many younger shoppers, the brand is seen as somewhat old-fashioned and a bit irrelevant,” he said.

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CHICAGO — Cardi B was part of Bad Bunny’s Super Bowl halftime show. What she did exactly, well, that turned into a perplexing question for two major prediction markets.

At least one Kalshi trader filed a complaint with the Commodity Futures Trading Commission over how the prediction market handled Sunday’s appearance by the Grammy-winning rapper. The result of a similar event contract on Polymarket also drew the ire of some users on that platform.

Prediction markets provide an opportunity to trade — or wager — on the result of future events. The markets are comprised of typically yes-or-no questions called event contracts, with the prices connected to what traders are willing to pay, which theoretically indicates the perceived probability of an event occurring.

The buy-in for each contract ranges from $0 to $1 each, reflecting a 0% to 100% chance of what traders think could happen.

More than $47.3 million was wagered on Kalshi’s market for “ Who will perform at the Big Game? ” A Polymarket contract had more than $10 million in volume.

Celebrities including Pedro Pascal, Karol G and Cardi B during the Super Bowl halftime show on Sunday.Kevin Mazur / Getty Images for Roc Nation

Cardi B joined singers Karol G and Young Miko and actors Jessica Alba and Pedro Pascal on a starry front porch during the halftime spectacle. She danced to the music, but it was unclear whether she was singing along during the show, which included performances by Ricky Martin and Lady Gaga.

Due to “ambiguity over whether or not Cardi B’s attendance at the 2026 Super Bowl halftime show constituted a qualifying ‘performance,’” Kalshi cited one of its rules in settling the market at the last price before trading was paused: $0.74 for No holders and $0.26 for Yes holders. The platform returned all the money to its users.

Polymarket’s contract was resolved as Cardi B had performed, but the yes was disputed. A final decision on the contract is expected to be announced on Wednesday.

In the CFTC complaint — first reported by the Event Horizon newsletter and posted by Front Office Sports — the trader alleges that Kalshi violated the Commodity Exchange Act with how it resolved the Cardi B contract. The trader — a Yes holder — is seeking $3,700.

A CFTC spokesman declined comment on Wednesday.

The Super Bowl capped a big NFL season for prediction markets.

Kalshi reported a daily record high of more than $1 billion in total trading volume on the day of the game, an increase of more than 2,700% compared to last year’s Super Bowl. The season-long total for all Super Bowl winner futures was $828.6 million, up more than 2,000% from last year.

The increased activity on Sunday caused some deposit issues. Kalshi co-founder Luana Lopes Lara posted on X on Monday that the “traffic spike was way bigger than our most optimistic forecasts.” She said the platform had reimbursed processing fees on the effected deposits and added credits to users who experienced delays.

Robinhood Markets highlighted the strength of its prediction markets when it announced its financial results for the fourth quarter and full 2025 on Tuesday.

“I think we are just at the beginning of a prediction market super cycle that could drive trillions in annual volume over time,” CEO Vlad Tenev said during an earnings call. “This year is going to be a big year. Olympics are going on right now. World Cup coming in the summer.”

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The head of the Justice Department’s antitrust unit said Thursday she is leaving the role, effective immediately, at a critical moment for corporate mergers in America.

Gail Slater, the assistant attorney general in charge of the Antitrust Division, wrote on X: ‘It is with great sadness and abiding hope that I leave my role as AAG for Antitrust today.’

Slater continued, ‘It was indeed the honor of a lifetime to serve in this role. Huge thanks to all who supported me this past year, most especially the men and women of’ the Department.

The White House referred questions to the Justice Department.

Attorney General Pam Bondi said in a statement, “On behalf of the Department of Justice, we thank Gail Slater for her service to the Antitrust Division which works to protect consumers, promote affordability, and expand economic opportunity.”

Slater is leaving just as media giants Netflix and Paramount Skydance battle for control of Warner Bros. Discovery.

President Donald Trump had said he was going to get involved in reviewing whichever Warner Bros. deal proceeds, an uncommon occurrence in antitrust matters.

But in an interview with NBC News, Trump slightly changed his tune. ‘I’ve been called by both sides, it’s the two sides, but I’ve decided I shouldn’t be involved,’ he said.

‘The Justice Department will handle it.’

Trump has met with executives from both of Warner Bros.’ bidders.

The Justice Department will also head to court in weeks in a bid to challenge concert venue manager Live Nation’s ownership of Ticketmaster.

Shares of Live Nation jumped as much as 5.8% after Slater announced her departure. By 1 p.m. ET, the rally had abated to around 2.5%.

When the Senate confirmed Slater, 78 senators from both sides of the aisle voted in her favor. Only 19 opposed her confirmation.

This week, her deputy in the Antitrust Division also departed.

Mark Hamer, deputy assistant attorney general for the Antitrust Division, wrote on LinkedIn, ‘Decided the time is right for me to return to private practice.’ He praised Slater as a ‘leader of exceptional wisdom, strength and integrity.’

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Warner Bros. Discovery said Tuesday that it was reopening talks with Paramount Skydance, giving the studio a week to rival Netflix in its bid to take over the streaming and cable giant.

In a statement, Warner Bros. Discovery said it had rejected the latest $30-a-share offer from Paramount but would give the company until Monday ‘to make its best and final offer.’

It also said a ‘senior representative’ of Paramount had indicated that the CBS owner would be willing to meet an even higher price, $31 a share, seemingly enticing the board back to the table.

At the same time, Warner Bros. is still recommending its shareholders vote at a special meeting March 20 to approve the $82.7 billion deal it reached in December to sell its streaming service, studio and HBO cable channel to Netflix.

Paramount is seeking to buy the entirety of Warner Bros. Discovery.

‘Every step of the way, we have provided [Paramount Skydance] with clear direction on the deficiencies in their offers and opportunities to address them,’ David Zaslav, CEO of Warner Bros. Discovery, said in the statement.

In a letter to the Paramount board — chaired by David Ellison, also the company’s CEO and controlling shareholder — Warner Bros. said that while Paramount had indicated it would address ‘unfavorable terms and conditions,’ these had not yet been removed from the proposed merger agreement.

Warner Bros. has repeatedly rejected previous bids from Paramount, citing the ‘insufficient value’ offered.

In a separate statement, Netflix hit out at what it called Paramount’s ‘antics.’

‘Throughout the robust and highly competitive strategic review process, Netflix has consistently taken a constructive, responsive approach with WBD, in stark contrast to Paramount Skydance,’ it said.

Netflix said that it was ‘confident that our transaction provides superior value and certainty’ but also recognized ‘the ongoing distraction for WBD stockholders and the broader entertainment industry caused by’ Paramount. The company said it granted Warner Bros. the one-week window to reopen talks with Paramount to ‘fully and finally resolve this matter.’

Netflix also took aim at the regulatory process required for either company to complete a takeover.

It said that Paramount has ‘repeatedly mischaracterized the regulatory review process by suggesting its proposal will sail through.’

‘WBD stockholders should not be misled into thinking that PSKY has an easier or faster path to regulatory approval — it does not,’ Netflix said.

In a statement, Paramount Skydance reiterated its existing offer to Warner Bros. Discovery of $30 per share. The company did not indicate if it would submit a higher bid.

Paramount called the one-week negotiating window ‘unusual’ but said it ‘is nonetheless prepared to engage in good faith and constructive discussions.’

The Ellison-backed media giant also said it would continue advocating against the Netflix deal and submit a slate of directors for Warner Bros.’ board at the upcoming shareholder meeting, as it previously planned to.

President Donald Trump, whose administration approved Ellison’s takeover of Paramount last year, said early in the bidding process he would be involved in approving a deal with Warner Bros.

But earlier this month, Trump changed his tune. ‘I’ve been called by both sides, it’s the two sides, but I’ve decided I shouldn’t be involved,’ he told ‘NBC Nightly News’ anchor Tom Llamas.

Trump still hinted that one company looked problematic to him. ‘I mean, there’s a theory that one of the companies is too big and it shouldn’t be allowed to do it,’ he said.

‘They’re beating the hell out of each other and there’ll be a winner,’ Trump said.

Warner Bros. has an archive of storied movies, as well as a diverse portfolio of brands including CNN and HBO.

The bidding war for the media empire comes at a pivotal time for the entertainment industry, with traditional broadcasters and studios facing serious challenges from digital newcomers Netflix, Apple and Amazon.

Since Netflix announced its deal to buy parts of Warner Bros. Discovery, its shares have tumbled nearly 25%.

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