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Cruise Line Offers an ‘Escape’ from Trump’s Presidency

November 20, 2024 · 10:19 am ET · Leave a Comment

“As Donald Trump prepares to begin his second four-year term, one cruise company is giving Americans the choice to opt out and escape,” The Guardian reports.

“The residential cruise line Villa Vie Residences announced earlier in November that it was launching a program that will allow travelers to join its ship, the Odyssey, at any port as it traverses around the world for the next several years. The trip is expected to travel to 425 ports across 140 countries, and the program will cost less than $40,000 a year.”

“The program is being offered in one-, two-, three-, and four-year packages. The one-year package is called Escape From Reality and the two-year package is called Mid-term Selection.”

Business of Politics

FBI Raids Home of Polymarket Founder

November 13, 2024 · 4:31 pm ET · Leave a Comment

The FBI raided the New York City apartment of Shayne Coplan, the founder and CEO of Polymarket, Axios reports.

“Polymarket is one of the most active prediction betting markets, gaining mainstream attention during the recent presidential election.”

Business of Politics

Political Betting Markets See Vindication in Trump Victory

November 7, 2024 · 10:50 am ET · Leave a Comment

New York Times: “Supporters of prediction markets such as Polymarket, Kalshi and PredictIt, where bettors could wager on the outcome of the election, said that the odds reflected reality faster and better than opinion polls. With President-elect Donald J. Trump’s resounding win, those claims seem to have been borne out.”

“It’s a major moment for betting markets, which have been around for years but surged to prominence in this election cycle.”

Financial Times: Was the Polymarket Trump whale smart or lucky? 

2024 Campaign, Business of Politics

Vulgar T-Shirts Disparaging Harris in Demand

October 28, 2024 · 8:51 am ET · Leave a Comment

Washington Post: “The merchants and their customers have become a polarizing staple of Trump’s campaign events this election season, promoting shirts with different slogans and spellings of the same vulgar attack. While not the majority of Trump rallygoers, their persistent presence speaks to how much the candidate’s fans have echoed his demeaning attacks on Harris in even more offensive terms.”

“Many supporters say they revel in his unfiltered rhetoric and see it as a core part of his appeal, effectively creating a safe harbor at his events for vicious insults.”

2024 Campaign, Business of Politics

How Michael Flynn Built a Business on Election Denialism

October 24, 2024 · 9:20 am ET · Leave a Comment

“Donald Trump’s former national security adviser Michael Flynn has spent much of the last three years claiming the 2020 election was stolen, turning baseless conspiracy theories into a cottage industry centered around live events, a documentary and political fundraising through dark money groups,” CNN reports.

“But under oath in a court deposition earlier this year, Flynn for the first time on record acknowledged there was no evidence to support a key part of some election fraud claims — that an executive at Dominion Voting Systems helped rig the 2020 election through the company’s voting machines.”

“A month later, Flynn was back on TV, telling Chris Cuomo on NewsNation that the 2020 election was ‘filled with fraud’ and that there is ‘clear evidence’ to back it up. Pressed for details, Flynn declined to elaborate.”

Business of Politics, Trump Legacy

Billions in Election Bets

October 19, 2024 · 6:48 pm ET · Leave a Comment

Washington Post: “Around $2 billion in cryptocurrency has been wagered on predicting the next president on Polymarket as of Friday. The New York-based company says it receives tens of millions of visits per month.”

2024 Campaign, Business of Politics

Everyone Is Betting on the U.S. Election

October 10, 2024 · 7:55 am ET · Leave a Comment

Wired: “Polymarket has had a lot of success this year. The pro-Trump billionaire Peter Thiel and ethereum founder Vitalik Buterin announced they had raised around $70 million in funding for the company this past May. The site’s monthly traffic has grown to around 20 times more than what it was at the time of the investment.”

“Betting markets also secured a big win earlier this month when a US appeals court gave Kalshi, a predictions startup, the green light to offer markets on which party would take over Congress next year. While the case hasn’t been completely resolved, it likely won’t be decided before election day. This means election markets are here to stay, much to the joy of political influencers and elites like Musk online.”

Business of Politics

Trump Pitches Products Over His Campaign

October 6, 2024 · 2:11 pm ET · Leave a Comment

NBC News: “With just weeks left before the November election, former President Donald Trump has taken to promoting items and businesses that are not at all connected to his presidential campaign…”

“While running for president this cycle, Trump has also promoted a sneaker brand, boots and even Bibles — all of which are business and not campaign ventures. He has long mixed business with politics; prior to his legal battles that have raged for years now, those potential conflicts of interest were the subject of far greater attention.”

“But the fact that Trump is promoting his business interests again in the closing weeks of the campaign has his Democratic rivals saying it is proof he is unfocused, and even some of his allies saying the effort is unwise.”

2024 Campaign, Business of Politics

Truth Social Users Are Getting Scammed

October 6, 2024 · 9:16 am ET · Leave a Comment

“Donald Trump launched Truth Social in 2022 as a social media platform where the MAGA faithful could hang out without any liberals to spoil the fun. The biggest selling point? It was the only place where Trump was personally posting his unhinged screeds after getting banned from Twitter over that whole coup attempt,” Gizmodo reports.

“But new documents obtained by Gizmodo reveal the site has also been flooded with scammers who are swindling users out of enormous sums of money. We’re talking about people who’ve lost hundreds of thousands of dollars in a relatively short period of time.”

Business of Politics

Betting on Congressional Elections Is Lawful

October 2, 2024 · 10:43 am ET · Leave a Comment

“A federal appeals court on Wednesday refused to block a lower-court ruling allowing Americans to bet on the outcome of the 2024 congressional elections,” CNBC reports.

Business of Politics

Peter Thiel Bets on the Future of Gambling on Elections

September 10, 2024 · 11:47 am ET · Leave a Comment

Controversial billionaire political donor Peter Thiel raised about $70 million in funding for Polymarket, a start up which offers “event contracts” for users to bet on things like political elections — despite the threat of impending federal regulation for election gambling, Forbes reports.

Business of Politics

Trump Cashes In During Final Weeks of Campaign

September 8, 2024 · 5:37 pm ET · Leave a Comment

Washington Post: “No presidential candidate has ever so closely linked his election with personal for-profit enterprises, selling a staggering array of merchandise that includes signed Bibles where he receives a royalty for hawking them, pricey sneakers, gold necklaces, cryptocurrency cards, pens, books, licensing fees on overseas properties and more.”

“His company’s website also sells a variety of political merchandise at higher prices than his campaign charges for the same items.”

2024 Campaign, Business of Politics

Trump Selling Pieces of Suit He Wore in Biden Debate

August 27, 2024 · 4:53 pm ET · Leave a Comment

“Donald Trump announced on Tuesday that he is selling a new collection of digital trading cards, and that supporters who buy 15 or more cards will receive a physical card adorned with a piece of the suit he wore for the presidential debate against Joe Biden in June,” The Guardian reports.

2024 Campaign, Business of Politics

Trump Media Quietly Enters Deal With GOP Donor

July 30, 2024 · 9:16 am ET · Leave a Comment

“This month, former President Donald Trump’s media company announced it was making its first major purchase: technology to help stream TV on Truth Social, its Twitter-like platform,” ProPublica reports.

“There was a mystery at the center of the deal: One of the companies on the other side of the transaction, which went unmentioned in Trump Media’s press release but was named in securities filings, is an obscure entity called JedTec LLC. Based in a North Louisiana village, the company has virtually no public footprint and no website, and it is unknown to streaming technology experts.”

“Interviews and public records reveal that the man behind JedTec is Louisiana energy magnate James Davison. A major Republican donor, he is known for his immense influence in state and federal government, including personal friendships with past presidents, and for using his wealth to benefit people in politics.”

“The acquisition will put Trump’s company in a business relationship with someone with numerous interests before the federal government.”

Business of Politics, Trump Legacy

Anti-Harris Gear Missing from Trump Rally

July 27, 2024 · 2:43 pm ET · Leave a Comment

“The anti-Biden gear that used to fill entire tables at Trump’s rallies is conspicuously absent at his event today in St. Cloud, Minn. No Harris merchandise had taken its place, yet,” the Washington Post reports.

“Vendors said they weren’t sure when any anti-Harris swag was coming. One wondered what she would do with all her Biden gear now: ‘Kind of irrelevant,’ she said, declining to speak more because she was busy.”

Business of Politics

Trump Sells Assassination Attempt Sneakers

July 17, 2024 · 12:52 pm ET · Leave a Comment

A website owned by Donald Trump, is the go-to retailer to secure a pair of high-top sneakers printed with an image from the recent assassination attempt against the former president, Rolling Stone reports.

The limited-edition 5,000-quantity run are going for $299 and have already sold out in a number of sizes.

Business of Politics

Flying the Trump Flag

July 15, 2024 · 7:24 am ET · Leave a Comment

Amazon indicated Sunday that the top searches in the run-up to Prime Day this week were for Trump flags, hats, and shirts, while “trump hat” and “trump flag” spiked on Google Trends, Semafor reports.

Business of Politics

How Trump Monetized a Persecution Narrative

July 12, 2024 · 1:39 pm ET · Leave a Comment

New York Times: “As he seeks to reclaim the presidency, Mr. Trump has reprised the pitchman role from his reality TV days, with a crucial difference: He has intertwined the marketing of his private business affairs with the messaging of his campaign, leveraging his political stature for profit.”

“All of it could be described as Martyr Inc., a machinery that makes Mr. Trump money and promotes his re-election by characterizing him as unjustly persecuted and selflessly saving his supporters from a similar fate.”

Business of Politics

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Taegan Goddard

Taegan Goddard

Taegan Goddard is the founder of Political Wire -- which for more than two decades has been one of the nation's most influential political news sites.

More about Taegan Goddard →

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