The U.S. Department of Justice has opened an investigation into the NFL over potential anticompetitive tactics, a government official told CNBC. The investigation stems from questions about “affordability for consumers and creating an even playing field for providers,” the official said.

The government’s investigation comes as the NFL is looking to renegotiate media rights deals with its broadcast networks earlier than previously planned, CNBC previously reported. The league is also reportedly considering a bigger package of games with streaming giant Netflix.

In a statement to CNBC, the league called its media distribution model “the most fan and broadcaster-friendly in the entire sports and entertainment industry,” and said that more than 87% of NFL games are on free, broadcast TV.

Teams are always shown on broadcast networks in their local markets, regardless of whether games are airing on cable TV or streaming-only.

“The NFL has for decades put our fans front and center in how we distribute our content. The 2025 season was our most viewed since 1989 and reflects the strength of the NFL distribution model and its wide availability to all fans,” the league said.

The Wall Street Journal earlier reported the DOJ probe.

Last week, Fox Corp., which owns a package of Sunday NFL games, and Sinclair, owner of affiliate stations, raised a similar issue with the Federal Communications Commission. The media companies had reportedly told the FCC that sports shouldn’t be allowed behind paywalls — such as exclusive streaming deals — since it means higher costs for consumers and further issues for legacy TV.

As the cost of sports media rights have skyrocketed, so, too, have the costs for consumers to watch, via increasingly piecemealed media packages that can require multiple subscriptions as well as price hikes for those services.

The NFL is currently in the midst of an 11-year, $111 billion media rights agreement that lasts through the 2033-34 season with broadcast networks CBS, NBC and Fox, as well as Disney’s ESPN and Amazon’s Prime Video.

However, the league is beginning to renegotiate its deals with broadcast partners, which would see increased revenue for the league and would eliminate an opt-out clause after the 2029-2030 season, ensuring a longer runway for the games to remain with their current broadcast partners.

All major sports leagues in the U.S. have seen a similar divvying up of games across traditional TV and streaming platforms, but the NFL, with the shortest schedule, still has the highest concentration of games on broadcast TV.

Recently the NFL began renewal talks with Paramount Skydance’s CBS for a deal that would keep a package of Sunday games on the broadcast network, CNBC previously reported. CBS currently pays approximately $2.1 billion a year, and a potential increase as a result of the renewed negotiations could see the network pay more than $3 billion in the next deal, CNBC reported.

While live sports, especially the NFL, garner the highest ratings for linear TV, the league has entered into various streaming-only agreements in an effort to reach consumers without traditional TV packages.

Amazon’s Prime Video is the exclusive home of Thursday Night Football, and in the last few years Netflix has been the host of Christmas Day games. The league has also signed one-off exclusive streaming deals for certain games, including the playoffs, with the streaming counterparts of legacy media companies like NBC’s Peacock.

During a 2024 CNBC x Boardroom Game Plan event, NFL Executive Vice President of Media Distribution Hans Schroeder discussed the growing importance of streaming for the league’s future. At the time he noted the league’s Wild Card game that aired exclusively on Peacock as “the most transformative moment” in recent years.

— CNBC’s Jessica Golden contributed to this report.

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Fresh estimates from the American Gaming Association (AGA) show Americans are on track to legally bet about $3.3 billion on the NCAA Division I Women’s and Men’s Basketball Tournaments this year. The total would represent a 54% jump compared with wagering levels just three years ago, showcasing how quickly regulated sportsbooks have become part of the country’s sports culture during one of the busiest stretches on the calendar.

At the same time, industry analysts say a growing presence from prediction market platforms is beginning to reshape the sports betting ads landscape.

“March Madness is the highlight of the college basketball season and fans are gearing up for a month of tournament action,” said Bill Miller, President and CEO of the American Gaming Association in a press release. “Fans continue to engage with legal, state- and tribal-regulated sports betting in record numbers during one of the biggest moments on the sports calendar.”

Prediction market ads raises compliance concerns

Research compiled for the AGA by analytics company Sensor Tower shows that while traditional sportsbook marketing has cooled, promotion tied to prediction market platforms has surged across digital channels.

Licensed online sportsbooks actually pulled back on advertising last year. Digital impressions tied to regulated operators fell nearly 14% in 2025. Over the same period, prediction market platforms dramatically increased their marketing footprint, quickly capturing a larger share of sports wagering-related ads seen by U.S. consumers.

AGA data shows prediction market advertising surged in 2025, with 43% of digital sports betting ads in early 2026 lacking required responsible gaming messaging. Credit: American Gaming Association / Sensor Tower

This has produced a compliance gap, according to the AGA. The group’s analysis indicates that roughly 15% of sports betting ads viewed online in 2025 failed to include responsible gaming messages required by many state regulators. A large portion of those ads reportedly came from prediction market platforms operating outside the same regulatory frameworks as licensed sportsbooks.

Kalshi has become a central player in that trend. By 2025, the platform ranked as the third-largest sports betting advertiser in the country based on digital impressions. The pace has accelerated even further in early 2026.

During the first two months of the year alone, about 43% of digital sports wagering ads seen by American consumers lacked state-mandated responsible gaming messaging because they originated from prediction market operators. Kalshi’s advertising has also dominated visibility across the market, generating roughly 5.2 billion impressions so far this year, compared with about 2.9 billion impressions for FanDuel.

Meanwhile, marketing by licensed sportsbook operators continues to decline. A Nielsen analysis commissioned by the AGA found overall sports betting ad spending slipped 5% year over year, while total advertising volume across all channels dropped 1% and now sits 27% below its peak in 2021.

Television advertising has shrunk even more dramatically. Sports betting TV ad volume fell 9 percent year over year and has been cut in half since 2021. Even at its high point, however, sports wagering represented only a small slice of the broader advertising market. In 2025 the sector accounted for about 0.9% of total television ad spending, compared with 1.5% for alcohol and nearly 14% for pharmaceutical advertising.

However, the gaming industry continues to grow despite those changes. AGA data shows U.S. commercial gaming revenue reached another record in 2025, reflecting continued expansion of legal betting markets nationwide. The organization has also been urging Congress, alongside the Indian Gaming Association, to clarify how emerging prediction and crypto-based markets fit into existing gambling laws.

“Confidence in your wager – and in the integrity of the games – starts with a fair and compliant betting market,” said Miller. “That’s why it’s so important that everyone offering sports bets in the U.S. comply with state and tribal regulations, ensuring that consumers are protected.” The AGA has pointed to events like the Super Bowl, where it projected roughly $1.76 billion in legal wagers on Super Bowl LX, as evidence that regulated betting continues to surge.

Featured image: Canva

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Fresh research from the Kansspelautoriteit (KSA) shows nearly a quarter of Dutch adults, 24%, believe people around them see gambling as normal behavior. Men were significantly more likely than women to share that view. The regulator surveyed 1,000 residents and found that when gambling comes up casually in conversations with friends or family, people are more likely to join in themselves.

“For many, gambling problems don’t appear overnight and often stay under the radar,” said Kansspelautoriteit chair Michel Groothuizen in a translated statement. The regulator says discussions about betting often focus on big wins or fast cash. That upbeat framing, it argues, can romanticize gambling and make it tougher for people to recognize when things are going wrong or to speak openly about concerns.

The survey results highlight how strong social influence can be. Some 43% of respondents said they would be less inclined to gamble if no one in their immediate circle did. Meanwhile, 18% reported regularly hearing gambling described as an easy way to make money. More than three-quarters of those surveyed said they see gambling problems mainly as the result of poor choices rather than addiction. Many also admitted they would struggle to confront someone they suspected might be in trouble.

Netherlands gambling normalization warning ahead of next World Cup

Research from the United Kingdom is adding to worries about how exposure shapes behavior. A recent study by the University of Sheffield examined betting patterns among men aged 18 to 45 during the 2022 FIFA World Cup. The researchers found that televised gambling ads were strongly associated with people placing bets, including individuals who had not intended to gamble beforehand. Viewers were significantly more likely to bet during matches that featured betting advertisements compared with games that did not.

Lead author Ellen McGrane said the findings raise questions about whether current advertising rules are strong enough to protect vulnerable viewers. “These television adverts may be acting as powerful triggers during live games, encouraging betting even among people who had no prior intention to gamble,” she said in a release.

The Sheffield team cautioned that when overall participation increases, gambling-related harm typically rises as well. With the 2026 FIFA World Cup expected to draw massive global audiences, public health advocates are paying close attention.

Across Europe, some regulators are already pushing for tighter controls on betting promotions during major sporting events. France’s gambling authority recently called on operators and broadcasters to scale back World Cup-related advertising to limit pressure on fans and vulnerable groups.

In the Netherlands, the Kansspelautoriteit has launched an online platform called OpenOverGokken to offer independent information and direct people to support services. The regulator says acknowledging how social norms influence behavior is an essential first step toward preventing harm.

Featured image: Canva

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House Bill 1226, titled the Maryland Illegal Online Gambling Enforcement Act, would let the Attorney General issue cease-and-desist orders to any sweepstakes operator accused of offering or promoting illegal online gambling in the state. It also requires the Attorney General to keep a public list of website URLs that have received those orders, effectively creating a blacklist that others would be expected to follow.

Under the bill’s language, a platform provider is defined broadly as any company that stores or hosts content on a web server and makes it accessible online. Financial transaction providers, including payment processors and credit card issuers, are also explicitly covered.

That reach is what stands out to legal observers.

“It’s pretty far reaching,” said Robert L. Ruben, a partner at Duane Morris LLP and a gaming law expert, in an interview with ReadWrite.

Maryland online gambling bill jurisdiction questions and criminal penalties

Ruben pointed to a key distinction in how the bill treats operators compared with platform providers.

“If you notice there’s a difference in the provisions of the bill regarding an operator versus a platform provider or someone else,” Ruben said. “For the operator, the provision says that you’re submitting to the jurisdiction only if you knew or should have known that what the bill refers to as illegal online gambling is occurring in the state. But for the platform provider, it does not have that language.”

It’s not completely unprecedented that a regulator would claim jurisdiction over an entity that’s unaware that its products are being offered in a particular state. But again, I haven’t seen it before in gaming in a criminal context like this.

Robert L. Ruben, Duane Morris LLP partner

The measure states that an out-of-state platform provider whose service allows for online exchanges to or from people physically located in Maryland submits to the jurisdiction of Maryland courts. It also says platform providers and financial transaction providers are deemed to have constructive knowledge of websites identified by the Attorney General.

The structure, Ruben said, could create enforcement and due process challenges, especially because the bill carries criminal penalties.

“I think that could be problematic from an enforcement perspective, particularly a statute that carries criminal consequences,” Ruben said. “If you don’t know that software is somehow being used by somebody else, I think enforcement could be difficult under U.S. law.”

For operators, a first violation could mean up to three years in prison or a $50,000 fine, rising to $100,000 for subsequent violations. Each wager is treated as a separate offense. Platform providers face escalating daily fines if they fail to comply with blocking orders.

Ruben stresses that the bill includes a compliance window

“In most if not all cases under this bill, those penalties don’t kick in unless you fail to cease within the 10-day period,” he said. “So before they impose those harsh penalties, they are providing an opportunity to come into compliance.”

The proposal also squarely targets sweepstakes-style platforms, defining them as games that use a dual-currency system and simulate casino play. Similar legislative fights are unfolding in states including Florida, Indiana and Illinois, where industry groups such as the Social Gaming Leadership Alliance have argued that expansive bans risk sweeping in legitimate promotional models and skill-based offerings.

As drafted, HB 1226 has a companion measure in the Senate, a routine step in Maryland’s legislative process. Lawmakers would need to reconcile both versions before sending any final bill to the governor.

For now, the bill has sparked debate over how far a single state can go in trying to police the global internet.

As he put it, “I haven’t seen it before in gaming in a criminal context like this.”

Ruben said he would prefer to see the bill give prosecutors clearer discretion, especially in cases where any violation is inadvertent rather than intentional. He also flagged what he called a “curious” tension in the definitions section. 

While the bill’s definition of online gambling includes “games, sweepstakes games, games of chance, and any other game typically offered in a casino,” the definition of a wager refers to placing money at risk on an outcome determined by “skill, chance or elements of skill and chance.” 

This creates a potential conflict, he suggested, because the definition of illegal online gambling focuses on games of chance, not games of skill. “If the intent, and it’s not clear to me, if the intent is to render illegal gains of skill, that is in conflict with, you know, decades and decades of Maryland case law that a game of skill is not illegal gambling,” Ruben said.

Featured image: Canva

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Spring & Mulberry, a Raleigh, North Carolina–based company, is pulling certain Mint Leaf Date-Sweetened Chocolate Bars from shelves after routine testing raised safety concerns, according to a Monday announcement from the Food and Drug Administration (FDA).

The recall involves lot No. 025255 of the 2.1-ounce chocolate bars, which were sold online and through select retailers nationwide since Sept. 15, 2025.

The affected bars come in teal packaging, with the lot number printed on both the box and inner wrapper.

“Spring & Mulberry is proactively recalling the specific lot in which this risk applies to protect public health,” the company noted.

“The potential for contamination was noted after routine testing by a third-party laboratory.”

No illnesses have been reported so far, according to Spring & Mulberry.

Chocolate bars sold across the US have been recalled amid nationwide salmonella concerns. FDA

The recall involves lot No. 025255 of the 2.1-ounce chocolate bars, which were sold online and through select retailers nationwide since Sept. 15, 2025. FDA

Salmonella can cause serious – and in some cases fatal – infections, particularly among young children, older adults and people with weakened immune systems.

Symptoms may include fever, diarrhea, nausea, vomiting and abdominal pain, with rare cases leading to more severe complications.

“In rare cases, infection can result in the organism entering the bloodstream and causing more severe illnesses such as arterial infections (i.e., infected aneurysms), endocarditis, and arthritis,” the announcement noted.

“Spring & Mulberry is proactively recalling the specific lot in which this risk applies to protect public health,” the company noted. FDA

North Carolina-based Spring & Mulberry pulled certain Mint Leaf Date-Sweetened Chocolate Bars from shelves after testing showed safety concerns, the FDA announced. AFP via Getty Images

Consumers are urged not to eat the affected chocolate bars and to throw them away.

Refunds are available by emailing Spring & Mulberry, according to the FDA.

The announcement comes amid a slew of other food recalls.

The FDA announced last week that a recall of cheese products has been upgraded to the most serious risk category after testing positive for a potentially deadly bacteria, listeria monocytogenes.

The federal agency also recently announced that more than 38,000 cases of frozen tater tots sold in 26 states were being recalled over concerns they may contain plastic fragments.

Spring & Mulberry did not immediately respond to FOX Business’ request for comment.

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Fidelity’s annual study found that 64% of respondents are considering a financial resolution for the new year, an increase from 56% last year.

It also found that the top three financial resolutions have remained consistent year-over-year, with 44% saying they want to save more money, 36% wanting to pay down debt, and 30% looking to spend less money.

“This was the second year in a row where Americans were prioritizing more of those short-term savings,” Leanna Devinney, market leader at Fidelity Investments, told FOX Business in an interview. “So this was similar to last year where they were saying, ‘I want more short-term savings goals like building up an emergency fund or paying down debt versus longer-term goals.’”

The study found that 55% feel overwhelmed by personal finances while 31% of Americans described their relationship with money as stressful. Among age groups, Millennials (68%) and Gen Z (64%) were the most overwhelmed by their personal finances.

64% of respondents are considering a financial resolution for the new year, an increase from 56% last year. Nattakorn – stock.adobe.com

Americans are also feeling more stressed than in recent years when it comes to saving money for goals after paying bills (35%), being able to pay monthly bills (34%), paying for healthcare costs in retirement (30%) and having enough retirement savings to retire as planned (30%).

Fidelity found that nearly three-quarters of Americans dealt with a financial setback last year, which could explain the focus on building savings for unforeseen setbacks, with 20% reporting an unexpected non-health emergency.

“In 2025, 72% of Americans said they experienced some type of financial setback, and then 55% said they’re overwhelmed by their personal finances,” Devinney said. “Due to rising prices, 33% shared they feel they have significantly less money.”

The study was conducted by Fidelity Investments. Christopher Sadowski

“While those are factual worries, what we’re also seeing is optimism,” Devinney noted, adding that the study found 70% see themselves in a better or similar financial situation than they were in at the same time last year.

More respondents said they feel better about their finances than they did five years ago – with 43% saying that in this year’s study, an increase from 36% last year.

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“The beginning of the year really started as a roller coaster. We saw significant market volatility and then a significant market rebound, and then also just the continued concern around being able to compete with rising prices, and, year over year, we have seen tough inflation.”

“I think why the last two years we’re seeing a little bit more prioritization around short-term savings is probably due to some volatility that we saw, as well as Americans this time around saying that they did have to dip into some of their savings,” she said.

Devinney said that it’s encouraging that Americans are prioritizing their short-term financial goals more, pointing to the 25% who said they want to build up their emergency fund in the next year and another 23% who said they wanted to stick to a spending budget.

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The tech firm’s stock has plummeted 30% so far this quarter, CNBC noted Friday.

Only four trading days remain — and the stock is staring down its steepest drop since the 2001 aftermath of the dot-com meltdown.

Shares of Larry Ellison’s Oracle are heading for worst quarter since 2001. SOPA Images/LightRocket via Getty Images

Wall Street is losing faith in Oracle’s capacity to crank out new server farms for OpenAI, even after the artificial intelligence giant agreed to spend over $300 billion with the tech firm.

Earlier this month, Oracle reported weaker-than-expected quarterly revenue and free cash flow, and on the earnings call, newly appointed finance boss Doug Kehring called for $50 billion in fiscal 2026 capital expenditures — 43% higher than the plan in September and double the total from a year earlier.

Additionally, Oracle is plotting $248 billion in leases to boost cloud capacity, on top of building data centers, CNBC reported.

That kind of growth won’t come cheap — it’ll take boatloads of debt.

Oracle piled on $18B in a jumbo bond sale in September, one of the biggest ever in the tech industry. Top brass vowed to protect the company’s investment-grade rating, but wary investors aren’t buying it, driving up the cost of insuring Oracle’s debt.

“Considering Oracle is already barely hanging on to an investment grade rating, we would be concerned about Oracle’s ability to live up to these obligations without restructuring its OpenAI contract,” analysts at D.A. Davidson wrote in a note to clients on Dec. 12.

They have the equivalent of a hold rating on the stock.

Oracle did not comment.

Oracle’s stock has plummeted 30% so far this quarter. Only four trading days remain — and the stock is staring down its steepest drop since the dot-com meltdown. REUTERS

This comes just months after Oracle named Clay Magouyrk and Mike Sicilia as its new CEOs, replacing Safra Catz, who was instrumental in shaping the company’s cloud strategy and thrusting it to the forefront of the ongoing AI boom with big contract wins.

Just two weeks before the transition, Oracle reported about a jaw-dropping 359% surge in revenue backlog tied heavily to OpenAI’s blockbuster commitment.

When news of the OpenAI pact broke on Sept. 10, Oracle stock went into overdrive, rocketing nearly 36% — the third-biggest rally since its 1986 IPO — and hitting an intraday record of $345.72 per share.

“We think $340 was terrifying,” said Zachary Lountzis, vice president at Lountzis Asset Management, told CNBC.

The firm held $25 million in Oracle shares as of Sept. 30, according to a filing.

Wall Street is losing faith in Oracle’s capacity to crank out new server farms for OpenAI, even after the AI giant agreed to spend over $300 billion with the tech firm. Getty Images

Lountzis’s fear proved prescient.

Oracle shares subsequently cratered 43%, closing Wednesday at $197.49 — though the stock caught a brief bump last Friday after TikTok agreed to sell part of its US business to Oracle and other investors. Oracle has long provided cloud services to the social media giant.

“Our philosophy is that we’re OK with short-term overvaluation if the economics of the business have not changed, and that was the case with Oracle,” Lountzis said.

“We didn’t feel the economics of the business changed with all the largely positive news that came out. And I think what we’ve seen from $340 down to $180 is actually a very healthy correction.” 

For Lountzis, much of his trust in Oracle comes down to Larry Ellison, who founded the company in 1977 and is now the world’s second-richest person, according to Bloomberg.

“You would have gone bankrupt 40 times betting against Larry over the last 50 years,” Lountzis said. “He sees the future.”

Oracle named Clay Magouyrk (above) and Mike Sicilia as its new CEOs. The two men have laid out their vision for supercharging the company’s growth. Oracle

Others on Wall Street are not so sure.

That’s despite the new execs’ long-term vision for stronger growth in the next four to five years, with revenue set to step up to $225 billion in the 2030 fiscal year from $57 billion in fiscal 2025.

Eric Lynch, managing director at Florida’s Suncoast Equity Management, said it’s hard as an investor to get comfortable with Oracle’s plans. The company said much of its projected growth will come from artificial intelligence infrastructure, with Nvidia’s graphics processing units at the center of it.

“Four or five years is a long time,” Lynch said. “That’s just not within our investment discipline.”

Lynch added that he’s concerned about such heavy dependance on OpenAI, which is burning cash at a rapid rate and has committed to more than $1.4 trillion in total AI build-outs and investments.

“Will the demand be there from OpenAI?” Lynch said.

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