Good evening, you're tuned in to Markets Desk.
The SEC is bringing serious charges against private fund advisers who allegedly told retail investors they were buying pre-IPO shares in OpenAI and SpaceX, then spent those millions on strip clubs, Bloomingdale's, and Amazon. The cases are a stark reminder that the frenzy around coveted private market names creates fertile ground for fraud, and regulators are clearly watching.
Shifting to the technology landscape, Verizon CEO Dan Schulman made waves at the Ford Pro Accelerate event in Detroit, forecasting the arrival of artificial general intelligence within eighteen months. Schulman told Fortune that today's AI models are the worst we will ever use, with step-function improvements arriving every two months. He called it a century of progress compressed into a decade, and that kind of timeline has real implications for enterprise capital allocation.
And on the sports betting front, DraftKings is laying out its two thousand twenty-six roadmap with profitability now firmly in hand after a successful pivot in twenty twenty-five. The company is pushing beyond core sports wagering into prediction markets, a strategic expansion that signals management believes the addressable market is considerably wider than Wall Street has priced in. Investors will be watching margin discipline closely as that growth accelerates.
That's the tape. Markets Desk, signing off the floor.
