With affordability a major election issue, the incumbent is trying to ward off her democratic socialist challenger At the end of 2022, the four largest US cities – New York, Los Angeles, Chicago and Houston – all had Black mayors. It was a historic alignment made possible by the aftereffects of the Black Lives Matter civil rights movement and the unprecedented wave of protests following the killing of George Floyd in 2020. Six years on, only one of those mayors remains: the embattled Karen Bass of Los Angeles , who is facing a strong challenge from a younger, even more progressive challenger. Bass’s opponent is Nithya Raman, a member of the Democratic Socialists of America, although the group is considering rescinding its endorsement over her refusal to explicitly embrace the Boycott, Divestment and Sanctions movement against Israel. Continue reading...
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Donald Trump uttered five words this summer that could seal the Republican party’s fate: ‘Pretend I’m on the ticket’ He spoke admiringly of a senator’s posterior. He baselessly accused a Muslim candidate of being a terrorist . He boasted about his renovations of the White House. He quipped that his own supporters couldn’t afford a hamburger at his Mar-a-Lago club. Every now and then, he spoke about the cost of living, and other everyday concerns of voters. Donald Trump has held dozens of campaign rallies before next week’s US midterm elections. The 80-year-old remains convinced that he can prove the doubters wrong again and help Republicans retain control of the US Congress. But it was five words he uttered at this summer’s Republican convention in Dallas that could seal his party’s fate: “Pretend I’m on the ticket.” Continue reading...
You won't need to stay up all night Tuesday to spot a big Democratic wave in the 2026 midterm elections . But it could take days — or even weeks — to know whether Republicans have survived a smaller one and held on to the House or Senate. Why it matters: A handful of early results in key states and congressional districts will tell us whether Democrats are headed for a landslide or disappointment. What we're watching: Florida, Florida, Florida. Most polls close at 7pm ET, and the state counts quickly — ready for release when the Panhandle finally calls it a night an hour later. At 8:01pm , refresh your browser and watch FL-14. The great mid-cycle redistricting wars transformed this Tampa-based district from Harris +8 to Trump +11. If Democratic Rep. Kathy Castor survives, Republicans can all but kiss their majority goodbye, according to party strategists. Next up is FL-25. The country's most expensive general election race is playing out in a district that went from Harris +4 to Trump +9. If Democratic Rep. Jared Moskowitz's race is close — or too close to call early in the night — House Republicans can keep hope alive. While you're at it, this is a good time to check on South Carolina's Senate race, where polls close at 7pm and the state counts relatively fast. If Sen. Darline Graham loses to Annie Andrews in the Trump +18 state, Senate Republicans can say goodbye to their majority. (And they'll be sweating if it's close.) "Underperformance is rarely isolated," said Jason Thielman, executive director of the National Republican Senatorial Committee in 2024. "If you see the GOP underperforming early in the East, it is likely going to continue as you move further West." At 9pm, check in on Virginia: The commonwealth's polls close at 7pm, but historically tight races often aren't called until the 9pm hour. If Democrats flip VA-01, a Trump +5 seat, they're in for a very good night. If they flip VA-05, a Trump +12 seat, they're in for a great night. Between the lines: VA
The latest wave of hyperscaler earnings is spooking Wall Street. Bulls and bears alike have evidence to validate their wildest dreams — or their worst nightmares. Why it matters : The market's AI obsession has entered its Jekyll and Hyde era, with the latest earnings from tech giants offering contrary signals about the AI boom. Driving the news : The tech-heavy Nasdaq briefly sank into correction territory, falling 10% from its prior peak, losing $1.2 trillion in value for the month of October, after a slew of earnings reports pointed to AI's big risks. But it wasn't all horror: within the earnings statements, some investors found proof that the AI bet is going exactly as it should. Here are three examples of the AI trade's deepest contradictions — the good and the scary — from the earnings releases and calls of the Big Tech hyperscalers. Google: The scary: AI overviews are cannibalizing Google's core business: ad revenue from search. Yes, search queries are up, but results in AI mode have lower margins. The company has lost more than $500 billion in market value post-earnings, bringing the broader tech sector along with it. The good: Google Cloud is closing in on Microsoft's Azure cloud revenue, a stunning development given that Google was an also-ran in the cloud game only a few years ago. Much of Google's success is tied to demand for its TPU chips, which analysts expect to see massive growth in coming quarters. The takeaway: Google's predicament mirrors the problems of many tech giants, where AI represents a true threat to the golden goose but presents new opportunities if they can move fast enough. Microsoft and Amazon: The good: Both companies had explosive cloud growth, though the market was disappointed Amazon's wasn't higher. Microsoft touted its OpenAI investment and Amazon its Anthropic holdings. The iffy: Those private AI investments can help or hurt: Amazon's net income fell despite soaring operating profits, as it didn't repeat the pretax gain from its
Pope Leo XIV voted in the 2026 Illinois midterm elections using a mail-in ballot, the Vatican confirmed Friday, becoming the first sitting pope known to vote in an American election. Why it matters: The pontiff, an American citizen, may be the first to vote in any secular democratic election. Joliet radio station WJOL first reported Oct. 23 that Leo had requested a mail-in ballot. What they're saying: The pope believes "in the right and the duty of citizens to participate in democratic processes," the Holy See Press Office said in a statement . The Vatican said Leo "has exercised his right to vote as a United States citizen, whenever he was eligible to do so" and that "in keeping with this long-standing practice of civic participation, he has submitted his mail-in ballot in Chicago." Pope Leo also voted whenever eligible during his years living in Peru, the Vatican's statement said. Zoom in: The pope's ballot includes Illinois Gov. JB Pritzker 's reelection bid, the race to succeed Sen. Dick Durbin and a House contest between Democratic Rep. Jonathan Jackson and Republican Christian Maxwell. Jackson, the son of the late Rev. Jesse Jackson, won his district handily in 2024. The pontiff's ballot will have to travel from Vatican city to Joliet, Illinois. Worth noting : Leo has voted in both Democratic and Republican primaries in the last two decades. Leo requested Democratic primary ballots in 2008 and 2010 when he lived in heavily blue Cook County, per the AP. He then started voting in GOP primaries in subsequent elections when he moved to the more conservative Will County, where he is currently registered to vote. He's also voted as an undeclared voter off and on in recent elections, according to the Will County clerk's office. His party affiliation is currently undeclared. Zoom out: The pope, who has been recovering from lung cancer surgery , met with Chicago-area advocates Wednesday who are supporting immigrants at an ICE facility in Broadview , Illinois. He's also
Democrats weighing 2028 presidential bids are piling onto the AI hate wave in their messaging, per an analysis shared exclusively with Axios. Why it matters: Democrats are turning AI anxiety into a political rallying cry ahead of 2028, while Republicans remain divided over how to respond. Driving the news: 2028 contenders including Gavin Newsom, Alexandria Ocasio-Cortez, Kamala Harris, Pete Buttigieg, Jon Ossoff and more have all increased their AI commentary in recent months, per new research from Upswing, conducted on behalf of Reset Tech, a nonprofit advocating for tech regulation. Among 21 Democrats named as potential 2028 contenders, tech mentions on X nearly quadrupled, and press release mentions nearly tripled since the start of the year. Tech is now the second-most common topic in releases, trailing only jobs and the economy, with the highest concentration of mentions around data centers and phone bans in schools. To gather the data, Upswing analyzed nearly 30,000 X posts from 38 accounts associated with 21 potential presidential contenders and 3,868 press releases from 16 officeholders between Jan. 1 and Oct. 15. Between the lines: Democrats are galvanizing around AI as a winning issue. Democrats are "taking a meaningful advantage" on AI after the topic was initially seen as a "jump ball" for both major political parties, Rishi Bharwani, U.S. director of Reset Tech, told Axios. AI regulation has gone from the back burner to a top issue over the last six months, he added. While the economy is still what matters most to voters, AI is increasingly part of the financial conversation as it dominates markets and the macroeconomic backdrop. Zoom in: It's not just messaging. While data center bans have been proposed in Democratic- and Republican-majority states, New York is so far the only one to pass a moratorium. House Democrats drafted a resolution opposing government bailouts for AI companies if the so-called "bubble" bursts. There are also a variety of legisla
President Trump's energy policies and investment deals could become major targets of Democratic investigations if the party wins control of either chamber of Congress. Why it matters: Congressional probes could expose new details about the administration's dealings with major companies and foreign governments. What they're saying: House Democrats are likely to take a "shotgun" approach of "throwing everything out there and then seeing what sticks in the realm of popular opinion," TD Cowen analyst John Miller said via email. Democrats will be looking for agencies that exceeded their authority, deals involving administration officials' families, or both, Miller said. The big picture: Scratch the surface of Democrats' biggest potential oversight targets, and energy is everywhere. Russia. Trump's dealings with Moscow will again be front and center — and so will the energy dimension. Democrats in both chambers are likely to investigate Trump's diesel deal with Moscow, which they claim violates a 2022 law barring imports of Russian fuels. The inquiries could also extend to U.S. banks and ports, which lawmakers have already warned could face congressional investigation. Venezuela. "We expect Venezuela to be the subject of a number of inquiries," RBC Capital Markets analysts said in a note. Democrats have already raised questions about whether any oil companies knew about plans to depose Nicolás Maduro. Investigations could also examine the legality of the Pentagon's 35% stake in the corporate parent North American Blue Energy Partners and the terms of the deal, the note states. The Iran war. High gasoline and diesel prices give Democrats another reason to scrutinize the decision to attack Iran, especially if pain at the pump persists. Sens. Sheldon Whitehouse (D-R.I.) and Elizabeth Warren (D-Mass.) have already pressed major oil and gas companies about their profits during the conflict. AI and data centers. Wider and intense oversight of AI will touch on data centers' ener
America's corporate titans greeted President Trump's 2024 victory with open checkbooks , 12-figure investment pledges and fawning tributes to his coming "Golden Age." Two years later, on the eve of a potential blue wave, Democrats are preparing to greet those same executives with a stack of subpoenas . Why it matters: The CEOs who staked their reputations and fortunes on MAGA's staying power could spend the final two years of Trump's presidency defending their dealings under oath. The big picture: A Democratic House would carry its campaign against billionaire power and corruption deep into corporate America, scrutinizing the relationships between Trump's White House and the executives who courted him . Corporate leaders now face a delicate balancing act: rebuilding ties with Democrats while avoiding retaliation from a president who still controls federal contracts, tariffs and regulators. Already, companies that scrambled to dismantle DEI programs or fund Trump's ballroom are hiring Democratic lobbyists , pushing back against the administration and rediscovering the virtues of bipartisanship. Zoom in: Elon Musk is taking a more confrontational approach. The billionaire, who has poured $445 million into Republican super PACs this election cycle alone, has threatened retaliation against Democrats preparing to investigate his sprawling business empire and tenure in the White House. DOGE: As head of Trump's short-lived cost-cutting initiative, Musk gutted USAID, drove mass federal layoffs and gave his team access to sensitive government systems. Investigators want to know whether his companies benefited from contracts or regulatory decisions while he wielded power inside the White House. Ukraine: A fierce critic of President Volodymyr Zelensky, Musk ordered Starlink restrictions that disrupted Ukraine's military satellite communications. Democrats are now demanding records of his communications with Trump and Vladimir Putin . Musk responds to reports that Democrats pla
Early race counts on election night can sometimes differ sharply from the final outcome. Christine Zhang, our election data reporter, explains the reasons behind red and blue “mirages.”
Binance halted trading Thursday after hackers allegedly linked to North Korea stole more than $6 billion, the largest crypto hack in history. Why it matters : The attack comes after a wave of high-profile cyber intrusions and data breaches during "Black October," when a series of security incidents and AI -discovered bugs triggered fears of a global crisis. Driving the news: Binance co-founder Yi He said on X that the crypto exchange had suspended deposits and withdrawals. "User funds are safe," she wrote. "Binance will cover all hacking losses." An estimated $6.3 billion were drained from wallets in the incident, Binance said , although the exchange and partners managed to freeze about $3 billion that can potentially be recovered. "This is unprecedented," said Kevin March, a co-founder of JPEG Trading, a cryptocurrency trading firm that closely tracked the hack to monitor market conditions. An initial investigation found linked the hack to a compromised laptop from one Binance engineer. That access allowed an attacker to gain access to Binance's systems to make withdrawals, the exchange said. Zoom in : Researchers from TRM Labs and Pangolin Intelligence found that the attack appeared to be the work of a North Korean hacking collective. "This was absolutely North Korea," Nick Carlsen, a senior TRM investigator, told The Wall Street Journal . Representatives of North Korea have previously denied allegations of hacking crypto exchanges. The country has turned hacking and scams into an industrial-scale scourge, focusing on crypto heists and a widespread practice of tricking Western companies into hiring North Korean workers . A Binance spokesperson said the exchange's security teams are "reviewing all relevant information with urgency." The big picture: If estimates hold up, the suspected Binance hack would be the biggest crypto attack in history. In 2025, North Korea-linked hackers stole about $1.5 billion worth of crypto from the Bybit exchange. Between the lines : C
Candidate for Ohio governor confirms campaign no longer airing ad that smeared rival and was defended by Trump Vivek Ramaswamy, the Republican nominee for Ohio governor, confirmed on Thursday that his campaign is no longer airing an attack ad that features the estranged mother of his Democratic opponent, Amy Acton. The ad prompted a wave of revulsion since Acton’s mother, Donna Arthur, lost custody of her daughter in 1978, when her second husband, Cledith Arthur, was charged with raping her daughter between the ages of 10 and 12. Continue reading...
Call it a new Apollo moment: Rocket launches from Cape Canaveral, Florida, are now outpacing those of the Cold War-era space race that first made the launch site famous. Why it matters: U.S. leaders are rushing to grow the number of rocket providers at America's busiest spaceport amid a space and arms race with China. Beijing plans to send a crew to the Moon by 2030 or sooner and is rapidly building up its satellite and rocket fleets. What they're saying: "There's nothing really comparable in the background of my career to what we're experiencing today," Space Force Col. Brian Chatman, the commander of Florida's rocket range, told Axios in an exclusive interview. Behind the scenes: The Cape is busy expanding to meet President Trump's mandate for the nation to support 1,000 annual launches by 2030. Chatman said with all the contractors on base, inspection backups and parking chaos abound. A rundown of some major projects Chatman is overseeing: SpaceX is expanding its footprint on the Cape for its Starship super heavy-lift launchpads. Newcomers Relativity Space and Stoke Space are setting up their facilities and are aiming to launch rockets for military and commercial customers sometime in late 2026 and 2027 . NASA is preparing for next year's Artemis III testing missions, and the Artemis IV voyage that aims to return astronauts to the Moon by 2028. Blue Origin is rapidly rebuilding its launch complex after its New Glenn rocket exploded in May. Jamie Draper, the Cape Canaveral Space Force Museum's director, told Axios there's been "boom and bust" cycles throughout the base's history. "We're definitely in one of those boom cycles right now," Draper said. By the numbers: Last year, Space Launch Delta 45, the military command overseeing the Cape, supported 109 orbital liftoffs from the base — the most in its history. In April, Space Launch Delta 45 oversaw five different rocket launches for unique missions, breaking a record set at the height of the U.S.-Soviet space rac
House progressives are planning to use their growing power to force votes next year on their most sweeping and divisive policies, including Medicare for All, abolishing ICE and cutting aid to Israel. Why it matters: The ultimate goal is to get these policies on the front burner for a Democratic president in 2029, even if that means forcing House Democrats into tough decisions. Rep. Pramila Jayapal (D-Wash.) told Axios the left wants mark-ups and votes on bills such as Medicare for All "so that we can prepare for when we have the trifecta and so that we can really build the support we need." "Forcing the vote is important so we can see where everyone is at, I think that's really key for 2028 and 2029," said Mai Vang, a progressive House candidate in California. The big picture: Here is what progressives most want to see go to a House vote in 2027, according to lawmakers, candidates and operatives who spoke to Axios: 1) Medicare for All The Medicare for All Act introduced by Rep. Pramila Jayapal (D-Wash.) has 118 co-sponsors — more than half the House Democratic caucus. The left wants to force the issue onto the floor and make their Democratic colleagues reckon with the policy's popularity in public opinion polls . Ultimately, they aim to ensure support for Medicare for All is a must-have for any 2028 presidential candidate to win the primary. "Years ago I negotiated with [former House Speaker Nancy] Pelosi to get the hearings , but we have not had a markup," Jayapal, a former Progressive Caucus chair, said in an interview with Axios. Jayapal pointed to the bill she and Rep. Pat Ryan (D-N.Y.) unveiled last week, which would lower the Medicare age from 65 to 50, as a potential compromise measure that could get caucus-wide support next year. Yes, but: A Democratic wave could bring in a bloc of members from red-leaning districts who could be sensitive to being tagged as wanting to end private insurance. Jayapal told Axios there's an "opening we've never seen before" with
With less than a week until a potentially historic midterm election , the political discourse is being dominated not by war or seismic shifts in technology, but by the Cheesecake Factory . The big picture: Culture wars regularly swarm American political discussions, especially when the jibes are personal. Former President Obama's passing joke over the weekend about Cheesecake Factory decor did just that — by criticizing President Trump 's personal taste and style. "He's got the White House looking like Saddam Hussein opened a Cheesecake Factory," Obama said, poking fun at the president's controversial White House renovations . Zoom in: John Murphy, professor emeritus at the University of Illinois Urbana-Champaign who studies political rhetoric, tells Axios that the first time he heard Obama's comment, he "really did think, 'this is going to go somewhere.'" That's both because of the messenger and the butt of the joke: Obama "can get under Trump's skin like no one else in the world can," he says. Obama knows all too well how seemingly trivial moments can blow up; in 2014, he wore a tan suit instead of a black one to discuss foreign policy, and years later his sartorial choices remain a political talking point. The tan suit has its own Wikipedia page , and still nets pop culture references . State of play: Days after Obama's quip, the news cycle and social media are still serving up the joke, and the White House posted "Lo-fi" beats accompanied by a cartoon image of Trump in front of a Cheesecake Factory. Conservative critics used the jab to paint Obama as elitist. Treasury Secretary Scott Bessent , a multimillionaire, criticized Obama outside a Cheesecake Factory, saying he "had a great meal, and I would tell the Martha's Vineyard set to give it a try." Murphy notes that framing comes from a classic red v. blue playbook to paint Democrats as "elitist." "It's a conscious strategy, I think, on the part of conservative media to gin up culture-war arguments," he says. Th
The cybersecurity world braced for catastrophe after AI uncovered critical flaws in the web's foundational code , but the anticipated wave of automated attacks has surprisingly struggled to get off the ground. Why it matters: Millions of hacking attempts have yielded few successful attacks, an apparent lucky break due to the degree of difficulty of building attacks on the bugs. The defense work at many companies to address the issue also appears to have helped. The last week has unfolded in ways that remind some researchers of the Y2K phenomenon, a software problem in 1999 where warnings of Armageddon helped rally companies to engineer a solution in time. Driving the news: Security researchers say the PHP vulnerabilities that prompted widespread panic last week have proven unusually difficult to exploit, despite a flood of attempts to develop working attack code. Yet the difficulty of exploiting PHP shouldn't be mistaken for evidence that AI-powered hacking isn't a serious threat, Samantha Lewis, head of threat intelligence at Armadin, told Axios. "We don't have to wait another two years before this happens [again]," she said. "It could be three hours from now that the next one of these launches." Between the lines: The sheer volume of AI-discovered bugs means the next era of cybersecurity will be defined by resilience — how quickly a company can detect an intruder, contain the damage and recover. "This is the worst outlook I've ever had, and it also is the most interesting thing I've ever seen in my life," ExtraHop CEO Greg Clark told Axios. "This stuff actually works, it's going to change everything." Rubrik CEO Bipul Sinha warned that the world is in an "era of cyber tsunami," noting that "it will wash over everybody, nobody will be 100% safe." Zoom in: The shift to building resilience doesn't require throwing out the security playbook. Instead, companies should double down on basic cyber principles, such as using multi-factor authentication, Justin Timothy, thre
Senate Republicans see Iowa moving their way and Ohio slipping, with pessimism growing over Alaska and Kansas. Why it matters: Even when they squint, top Republicans struggle to see a majority beyond 51 seats, according to half a dozen senior operatives. ✈️ A combination of paid media and Air Force One visits has bolstered GOP confidence that they'll hold South Carolina and Mississippi . But across the map, the outlook looks bleak, with only a few bright spots. Zoom out: Republicans are fighting a two-front war: unprecedented Democratic enthusiasm and undeniable Republican apathy. 🏈 President Trump's strategy is to whip up the MAGA faithful with rallies in the reddest parts of red states. 😱 "The Red Scream is my biggest concern , not the blue wave," said Alex Castellanos, a veteran Republican consultant who has worked to help Trump get elected. ‼️ "Republicans and independents are going to be screaming for attention, and many of them, including those who voted for Trump, may show their frustration by not showing up." Zoom in: Texas is starting to look like a late-season football showdown against an SEC rival: The GOP is still in the game, but defeat seems like a real possibility. 🌾 In Kansas, Sen. Roger Marshall (R) has stopped the bleeding, but it's unclear whether there's enough time left to save his seat. 🛥️ Republicans are quietly bullish on Michigan, but they recognize that the demographics have to break heavily in their favor, especially among Black voters. By the numbers: The math hasn't changed, but Senate Minority Leader Chuck Schumer (D-N.Y.) sees multiple paths to 51 seats. No one disputes that North Carolina is going to have a Democratic senator. It seems like another lifetime ago that Republicans were talking seriously about flipping Georgia. If just two of the next tier of Ohio, Kansas and Alaska flip, the Senate would be split 50-50 before factoring in other competitive races, like Michigan, Iowa and Maine. 🦞 In Maine, Republicans and Democrats a
A tidal wave of litigation is catching up to Meta, leading to $42 billion in recent penalties and settlements , a powerful reminder to AI companies that they could face a court reckoning even when regulation lags. Why it matters : AI companies are racing to build better models and autonomous agents, but they don't enjoy the same legal protections that shielded web platforms for decades. The scale of the penalties Meta is facing offers a preview of potential legal exposure . The big picture : For years, Facebook's parent company navigated a seemingly endless string of scandals — weathering allegations of election interference, privacy lapses and platform harms — and was largely protected from severe litigation penalties due to Section 230. The provision — from a historic 1996 law passed as the internet was just beginning to change modern life — protects tech platforms from being sued over content created by their users. Legal experts say that law doesn't apply to AI. Models create their own content, so companies could face traditional product liability and negligence claims. Catch up quick : The two massive rulings highlight how legal risk for tech giants can extend by a decade, or proceed much faster. Meta was just hit with a $25 billion penalty over the Cambridge Analytica scandal after a jury found the company misled users about Facebook's privacy practices. Many details about that event surfaced nearly 10 years ago. The company said it believes it will win an appeal, and legal experts have said the penalty will likely be reduced. In August, the company agreed to a $17 billion settlement with states related to the impact of Meta products such as Instagram on teen mental health. State of play : A key cog in the Trump administration's regulatory efforts is the threat of litigation. Liability is sure to feature prominently in the risks AI giants such as Anthropic and OpenAI spell out to shareholders as they prepare for massive public listings. Anthropic's IPO is expe
A student-led protest movement has ended the 14-year rule of Serbia's right-wing party, former President Aleksandar Vučić conceded Sunday. Why it matters: The historic upset sidelines a Balkan strongman who courted President Trump's family and allies, raising questions about future U.S. relations with a country that has balanced ties with Russia and the West. Vučić 's outreach has included the president's son Donald Trump Jr. and longtime ally Richard Grenell, while a proposed development involving Trump's son-in-law Jared Kushner became embroiled in controversy. The big picture: The movement's electoral breakthrough reflects a broader wave of youth activism in Europe, where young people have mobilized over corruption, education and economic pressures. The victory could usher in democratic reforms in Serbia, where Vučić consolidated power. Driving the news: Vučić said Sunday evening it was "clear" that his Serbian Progressive Party had lost to the student-backed electoral movement, although official results had yet to be announced, according to translations of his announcement . He projected the Student List would win between 135 and 140 seats in the 250-seat parliament, compared with 105 for his coalition. Cardiologist Ilija Srdanović heads the Student List, though the grassroots movement emphasized its decentralized leadership. The result echoes the student-led movement that helped topple Slobodan Milošević in 2000 , with Serbians reviving that era's "He's finished!" rallying cry as they celebrated Sunday. Context: The movement emerged from mass protests after the November 2024 collapse of a railway station canopy in Novi Sad that killed 16 people, fueling public anger over alleged government corruption. It subsequently evolved into an electoral movement campaigning for accountability and institutional reform. What's next: The Student List must choose a prime minister and form a government while Serbia faces a separate presidential election in December to replace