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One prediction market finally found a bet it would not take... and the bettor is banned for life.

Here are the 7 things you missed today:

1. 🛒 The FTC is Suing Amazon For $20Bn Over Secret Ad Surcharges

Turns out the FTC reads the fine print on ad auctions. It sued Amazon on Monday alongside 22 state attorneys general, alleging the company quietly slipped a “soft reserve price” surcharge into its own ad auctions starting in 2019, inflating advertiser costs by roughly 50% in peak season. Regulators want $20 billion. Amazon calls the suit “misguided”... it settled a separate FTC case for $2.5 billion last September. (Quartz)

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3. 🍏 Phil Schiller Stepped Down as Tim Cook's Apple Tenure Ended

Phil Schiller joined Apple in 1987, so he has earned the right to a slow exit. He stepped down as App Store head on Monday, the same day Tim Cook handed the CEO job to John Ternus, and he stays on as an Apple Fellow. Carson Oliver takes over daily App Store duties under Eddy Cue. Six senior leaders have now headed for the door. (TechCrunch)

4. 🛍️ DTC Brands Continue to Bet on Creator-Driven Content

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5. 🎵 Sony Music & Warner Chappell Sued Anthropic Over Pirated Songs

Sony Music and Warner Chappell would like a word with Anthropic about its reading list. The publishers sued the AI lab in California federal court late Friday, naming Dario Amodei and Benjamin Mann personally and alleging a “brazen campaign” of torrenting copyrighted lyrics and sheet music to train Claude. Anthropic settled a similar piracy case for $1.5 billion in July and says it will fight this one. (TechCrunch)

6. 🤖 Instagram is Throttling Undisclosed AI Profiles

Instagram has decided that if your favorite influencer is not a person, you should probably be told. It renamed its “AI creator” tag to “AI-generated profile” on Monday and will cut the reach of accounts featuring synthetic people who skip the label. Photo editing and caption polish do not count. Wired recently found 20-plus suspect accounts pushing one dating app... so, timely. (TechCrunch)

7. 🚫 Kalshi Handed George Santos its First Lifetime Ban

Kalshi has learned that George Santos will, in fact, bet on George Santos. The prediction market permanently banned him Monday and fined him $71,356 after he allegedly cleared $17,839 wagering on whether he would attend the State of the Union, an outcome he could reportedly influence himself. It is the platform's first lifetime ban ever. He settled with the CFTC for $35,000 in June. (TechCrunch)

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