Amazon is getting commerical breaks...
September 23, 2023 [View Online]( | [Sign Up]( | [Shop]( [Morning Brew]( PRESENTED BY [Pendulum]( Gourd morning. Itâs the first day of fall, or autumn if you think youâre better than us. âSam Klebanov, Molly Liebergall, Matty Merritt, Abby Rubenstein, Adam Epstein, Neal Freyman MARKETS Nasdaq 13,211.81 -0.09% S&P 4,320.06 -0.23% Dow 33,963.84 -0.31% 10-Year 4.440% -5.4 bps Bitcoin $26,598.00 +0.03% Arm $51.32 -1.61% *Stock data as of market close, cryptocurrency data as of 4:00am ET. [Here's what these numbers mean.]( - Markets: Stocks [fell]( yesterday, capping off the S&P 500 and the Nasdaqâs worst week since March as investors wait to see whether lawmakers will manage to keep the government from shutting down. Klaviyo, Instacart, and Armâthe three recent IPOs that all briefly soared on their debutsâcontinued retreating. Â FINANCE [Regulators say ânoâ to election betting](
[Political gambling]( Illustration: Francis Scialabba, Photo: Skynesher/Getty Images If your [FIRE]( plan involves betting all your savings on your preferred party taking Congress in 2024, itâs time to come up with a new one. The Commodity Futures Trading Commission (CFTC) [rejected a proposal]( yesterday from the online financial exchange Kalshi for offering cash bets on US House or Senate elections. The CFTCâs decision foils the companyâs plan to become the first US exchange to let institutional investors wager up to $100 million on congressional election outcomes. Kalshi is among a crop of companies selling futures contracts on yes-or-no events like the actors strike ending before Halloween or [SBF getting Adderall in jail]( by Sept. 30. But CFTC Chair Rostin Behnam said laying bets on elections is illegal and not in the publicâs best interest. - Behnam claimed election betting reduces âkey facets of the democratic process to a source of revenue for some, fascination and entertainment for others.â
- He warned that letting Kalshi move forward would turn the CFTC into an âelection copâ tasked with policing attempts to manipulate voting outcomes, for which it doesnât have a mandate. Kalshi says regulators just donât get it Kalshi CEO Tarek Mansour compared election betting to financial products like insurance and ETFs, which also made regulators uneasy when they first came out. The company claims itâs trying to help companies hedge against risks associated with specific political outcomes (e.g., Build-A-Bear making a lucrative bet on the Senate getting swept by a party with a vendetta against teddy bears). Proponents of election betting also argue that data from election betting is immensely valuable to political researchers. If you still want to bet on elections: A New Zealand-based prediction market, PredictIt, accepts US [election bets]( of up to $850. As a small, nonprofit experimental research project, it was initially given permission to allow the bets, but the CFTC later revoked that permission. PredictIt sued over the about-face, and an appeals court ruled PredictIt can continue with them...for now.âSK Â Â PRESENTED BY PENDULUM [Is your gut in a rut?](
[Pendulum]( Good healthâand a good morningâstarts with your gut. If your crummy days begin with an upset stomach, it might be time to switch up your daily routine. Need a rec? [Forbes recently called Pendulum the next billion-dollar startup]( thanks to their next-generation probiotic Akkermansia. Backed by 3k+ scientific pubs, Akkermansia strengthens the gut lining and reduces gut permeability based on in vitro studies. A [strong gut lining is critical to overall health]( and no one knows this better than Halle Berry (yes, that Halle Berry). She experienced such life-changing results because of Akkermansia that she became Pendulumâs Chief Communications Officer. Want in? [Use code MORNINGBREW for 20% off your first month](. WORLD [Tour de headlines](#)
[Striking UAW workers outside an auto plant]Bill Pugliano/Getty Images ð UAW expanded strikes at GM and Stellantisâbut not Ford. Yesterday, the auto workers union made good on its threat to strike at more locations if wage talks with Detroitâs Big Three did not progress. Another 5,625 workers went on strike at [38 more locations]( across 20 states, bringing the number of striking workers to over 18,300. The expansion, which targeted parts distribution centers, is aimed at hurting dealershipsâ ability to fulfill repair requests in hopes they will help pressure the manufacturers. Ford was spared from this round of expanded strikes because itâs âserious about reaching a deal,â UAW President Shawn Fain said. The stakes are high: President Biden said he plans to [join]( UAW workers on the picket line on Tuesday. CDC panel backs Pfizerâs maternal RSV vaccine. A Centers for Disease Control and Prevention advisory committee yesterday [recommended]( administering the vaccine to pregnant people during the third trimester to prevent infants from contracting the virus. The vaccine is already available, and another RSV vaccine made by AstraZeneca and Sanofi, which is given directly to babies, also won approval recently. RSV sends ~80,000 children under five to US hospitals annually, according to the CDC, and itâs the second leading cause of death for under-one-year-olds globally. A pigâs heart was transplanted into a man. Itâs only the second time the [groundbreaking surgery]( has ever been performed. University of Maryland doctors said yesterday that a Navy veteran who had been facing death from heart failure was talking and laughing after receiving the genetically modified heart two days before. The same team performed the surgery the first time about a year ago on a different patient who lived for two months afterward. These efforts at animal-to-human transplants come amid a shortage of human organs for patients who need them. GOVERNMENT [US senator accused of taking gold bar bribes](
[Officials display photos of evidence found in a raid on Menendezâ home.]( Alexi J. Rosenfeld/Getty Images Hereâs another reason to chirp your friend from New Jersey: Democratic Sen. Bob Menendezâchairman of the Senate Foreign Relations Committeeâis [facing federal charges]( forâ¦allegedly corrupt foreign relations. Menendez and his wife, Nadine, are accused of [wielding his political influence]( to benefit three New Jersey businessmen, as well as pushing the US to send hundreds of millions of dollars in [military aid to Egypt]( in exchange for bribes. Prosecutors indicted them both yesterday for conspiracy to commit bribery, honest services fraud, and extortion. Both vehemently deny any wrongdoing. But according to federal prosecutors⦠- A raid on the Menendez home and safe-deposit box revealed more than $550,000 in stashed cash, 81.5 ounces of gold bars, and a Mercedes-Benz convertible, all believed to be bribes.
- Nadine [texted]( an Egyptian official, âAnytime you need anything you have my number and we will make everything happen.â
- After returning from a trip to Egypt in October 2021, Menendez [searched the web for]( âhow much is one kilo of gold worth.â Run it back: Having dodged different corruption charges back in 2015, Menendez is the first sitting senator to be indicted twice on separate criminal charges. Heâs up for reelection in 2024 and has agreed to step down as head of the Foreign Relations Committee temporarily. New Jerseyâs governor, a fellow Democrat, called for him to resign from the Senate.âML Â Â TOGETHER WITH CARIUMA
[Cariuma]( 5-star sneaks hit different. And thatâs over 40k 5-star reviews, btw. Cariumaâs [sustainable, B Corp-certified kicks]( are the real deal. They cleared a 104k waitlist, so now is the time to get your new kicks for chilly season. Their leather sneakers are available in 4 shades of premium leather to complement all your fall fits. Not to mention theyâve been spotted on Hollywood legends like Jon Hamm and Helen Mirren. [Use code BREWSEPTEMBER for 20% off](. STREAMING [Amazon is adding commercials to your binge of The Boys](
[Hand turning on and off tv with Amazon logo on screen.]( Francis Scialabba Good thing weâve all already rabidly consumed season two of The Summer I Turned Pretty, because Amazon [said]( yesterday that itâs going to slap some ads between the piercing blue-eyed stares and other teen drama. Starting early next year, customers can pay an extra $2.99 a month on top of their $14.99/month or $139/year Prime membership to keep their TV and movie experience ad-free. Otherwise, theyâll be automatically enrolled in the new ad-supported tier at no additional charge. Live sports will continue having ads no matter what plan you choose. Big picture: Amazon was one of the last streaming holdouts to embrace ads. Disney+ and Netflix both created cheaper, ad-supported tiers in the last year (and Netflix did so after years of insisting it never would). The only major platform that still avoids ads entirely is Apple TV+, although that may be up for debate given how many Apple products it put in Ted Lasso alone. Looking aheadâ¦after blowing up the linear TV model, streaming services are scrambling to start making some dang money. Amazon claims it will use the extra revenue to reinvest in contentâhopefully not more [Elven flops](   GRAB BAG [Key performance indicators](#)
[A vacuum making the TikTok logo]Francis Scialabba Stat: A whole lot of people really want to watch someone else scrub a toilet. TikTokâs âCleantokâ hashtag has attracted 84 billion views, making it the [most viewed]( hashtag on the platform, according to the Wall Street Journal. The company that makes Domestos and Seventh Generation has noticed: Unilever recently said it would pay 100 cleanfluencers to feature its products in their vids, saying there are Gen Zers who now view âstaying home and cleaning as the new going out.â Quote: âIf sportswashing is going to increase my GDP by 1%, then we will continue doing sportswashing. I donât care.â Saudi Arabiaâs Crown Prince Mohammed bin Salman made it clear in an interview with Fox News this week that he [doesnât give a toss]( if you think his kingdomâs efforts to own the entire sport of golf or attract world-class soccer players to its teams are [distractions]( meant to cover up its abysmal human rights record. Human rights groupsâ¦do care, and they criticized the statement on social media. Read: The real message of the Real Housewives: You better work, b*tch. ([The New Yorker]( NEWS [What else is brewing](#) - [Microsoft]( is thisclose to completing its $69 billion takeover of Call of Duty-maker Activision Blizzard now that UK regulators gave the restructured deal a preliminary nod.
- [Striking writers]( and Hollywood studios failed to reach a deal yesterday during a third consecutive day of bargaining, according to The Hollywood Reporter, but talks are expected to continue.
- [McDonaldâs]( is planning to raise its royalty fee for new franchise locations for the first time in 30 years.
- [California]( will let insurers factor wildfire risks into home insurance prices to try to keep them from fleeing the disaster-prone state.
- [A stake in the Golden State Warriors]( is for sale in a deal that values the team at $7 billion, Bloomberg reports. Not bad for a team purchased for ~$450 million in 2010. RECS
[Saturday To-Do List graphic] Eat: Football season is sandwich season, so hereâs the [best one in every state](. Play: Itâs your chance to be the hot dog with a [Costco-branded Monopoly game](. Listen: A comedianâs [song]( extolling the virtues of sitting is actually a bop. Or try a whole album: Continuing the âmusic from unlikely cornersâ trend is [this album]( from the US Consumer Product Safety Commission (really). Enjoy business news again: [Morning Brew Daily]( has the wittiest and smartest takes on business news. [Check it out]( wherever you get your podcasts. GAMES [The puzzle section](#) Brew crossword: Solving todayâs fall-themed crossword is like drinking apple cider while eating cider donuts as an Angry Orchard chills in the fridge. [Play it here](. Open House Welcome to Open House, the only newsletter section that knows how to be a lady in the streets, and an even classier lady in the crisply tucked sheets. Weâll give you a few facts about a listing and you try to guess the price. [Four-floor Brooklyn townhouse.]StreetEasy Todayâs [home]( is a four-floor, 5,975-square-foot masterpiece in Brooklyn, NY, built in 1899. The townhouse is rumored to have the only home theater in the world that wonât make guests regurgitate their dinner. Amenities include: - 7 beds, 5 bathrooms
- Attic for storage
- Drawing room for revealing family secrets How much for a place that could double as a set for The Gilded Age? SHARE THE BREW [Share Morning Brew]( with your friends, acquire free Brew swag, and then acquire more friends as a result of your fresh Brew swag. Weâre saying weâll give you free stuff and more friends if you share a link. One link. Your referral count: 0 [Click to Share]( Or copy & paste your referral link to others:
[morningbrew.com/daily/r/?kid=4904f90a]( ANSWER Open House: $16.8 million Word of the Day Todayâs Word of the Day is: vehemently, meaning âin a zealous manner.â Thanks to Kyrie from Indonesia for the suggestion. [Submit another Word of the Day here](. Written by [Neal Freyman]( [Abigail Rubenstein]( Sam Klebanov, [Molly Liebergall]( [Matty Merritt]( and [Adam Epstein]( Was this email forwarded to you? Sign up [here](. Take The Brew to work - Marketers: [Marketing Brew](
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