KKR is set to reap a $3.3 billion windfall from the sale of USI Insurance Services to Aon for $17 billion, according to Bloomberg. The deal marks a significant exit for a unit that invested its balance sheet in long-term private equity bets.

Meta Platforms Inc. released its most powerful artificial intelligence model yet, with its chief AI officer saying its capabilities are edging closer to top competitors, according to Bloomberg.

According to Jin10, Meta Platforms (META.O) launched Muse Spark 1.3 in Muse Code and the Meta model API.

According to Jin10, The Wall Street Journal reported that the U.S. government supports OpenAI in its copyright dispute with publishers.

New Jersey’s attorney general and the state’s interim director for the Division of Gaming Enforcement have petitioned the U.S. Supreme Court to hear a case over whether state authorities or federal agencies have jurisdiction over prediction market companies. On Wednesday, Attorney General Jennifer Davenport and gaming enforcement interim director Mary Jo Flaherty filed a petition for a writ of certiorari tied to New Jersey’s enforcement action against prediction market platform Kalshi over sporting event contracts. The filing said civil cases have been brought by gaming authorities in at least 20 states and asked the court to decide whether prediction market companies can comply with the Commodity Futures Trading Commission (CFTC) while still violating state laws. Davenport said companies such as Kalshi claim to offer legal sports betting in all 50 States but refuse to follow state gambling laws, adding that the Supreme Court should resolve whether Congress made the sports-betting industry immune from state law. According to Cointelegraph, the petition asks whether the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act preempted states from regulating sports bets within their jurisdictions when those bets are offered on markets registered with the CFTC. The petition challenges an April opinion from the U.S. Court of Appeals for the Third Circuit, where judges ruled 2-1 against New Jersey’s gaming authorities and said Kalshi had a reasonable chance of success in arguing that the CFTC’s Commodity Exchange Act preempted state law. New Jersey’s filing also disputed the CFTC’s view that sports bets on prediction market platforms qualify as swaps under the agency’s authority and said federal law does not preempt state sports-gambling laws regardless. The state said a victory for Kalshi would mean sports gambling off CFTC-registered markets would seemingly become illegal even if state law allows it, because federal law prohibits trading swaps off CFTC-registered markets. Kalshi spokesperson Dani Lever told Cointelegraph that the company disagreed with New Jersey’s decision to appeal and said it could not be regulated by 50 different regulators. Lever added that Kalshi remains confident in the lower courts’ rulings and that nothing in New Jersey’s filing changes its view. It is unclear whether the Supreme Court justices will take up the issue, though experts have speculated the court could weigh in on a case that went to the appellate court in Nevada. A decision in the Kalshi case in Nevada, the New Jersey case, or another enforcement action could determine which authorities can regulate prediction markets.

Mergers and public offerings in the final months of 2026 could lift dealmaking volumes to a new high despite growing economic concerns, according to Dorothee Blessing, co-head of global investment banking at JPMorgan Chase & Co., Bloomberg reported.

Eli Lilly plans to buy Merida Biosciences Inc. for as much as $2.88 billion in cash to expand in autoimmune and allergic diseases, according to Bloomberg. The deal is part of Lilly’s effort to build beyond the weight-loss and diabetes markets that made it the world’s largest pharmaceutical company.

US Treasury Secretary Scott Bessent criticized US companies ramping up artificial intelligence investment for failing to build ties with communities as concern grows over data centers and the cost of living, according to Bloomberg. Bessent said the firms have not done enough to tout the benefits of AI.

S&P Global is considering spinning out its flagship data and research platform Capital IQ Pro into a standalone company worth billions of dollars, according to Bloomberg. Bloomberg's Liana Baker discussed the potential move on "Bloomberg Deals."

Fracture Labs has sued Jump Trading, accusing it of running a "pump and dump" scheme with DIO tokens, allegedly manipulating the token's price for profit during FractureLabs' fundraising.