A 2015 photo of then Attorney General Eric Holder and President Obama. Photo: Jacquelyn Martin / AP

The right-leaning consulting firm Champion Group, led by former Americans for Prosperity CEO Luke Hilgemann and COO Sean Lansing, is launching a "Defend Freedom" PAC today to bolster Republican efforts in state elections with an eye on 2020 redistricting.

Why it matters: This Republican PAC is an answer attempts from Barack Obama and others to win back state legislatures and, ultimately, control the redrawing of the electoral map in 2020.

Background: Barack Obama has made redistricting a post-presidency focus, launching the Democrat National Redistricting Committee along with Eric Holder, which has raised $11 million in its first 6 months. The Virginia elections proved that Democrats' strategies for wining back state legislatures are effective.

Big picture: District lines have generally favored Republicans for the past 20 years, and the GOP has been accused of gerrymandering along racial and cultural lines, with several cases being challenged in court. Democrats' victories in Virginia state elections earlier this month were crucial and will fuel their future efforts to gain legislative power (and therefore redistricting power) in the states, which could be a devastating scenario for the GOP.

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"Hamilton" is a streaming hit for Disney+

Data: Google Trends; Chart: Andrew Witherspoon/Axios

The debut of "Hamilton" on Disney+ last Friday sent downloads of the app soaring over the weekend.

Why it matters: With theaters closed until 2021, "Hamilton" is the biggest litmus test for whether Broadway will ever be able to successfully transition some of its iconic hits.

Wall Street is no longer betting on Trump

Illustration: Sarah Grillo/Axios

Betting markets have turned decisively toward an expected victory for Joe Biden in November — and asset managers at major investment banks are preparing for not only a Biden win, but potentially a Democratic sweep of the Senate and House too.

Why it matters: Wall Street had its chips on a Trump win until recently — even in the midst of the coronavirus-induced recession and Biden's rise in the polls.

With new security law, China outlaws global activism

Illustration: Eniola Odetunde/Axios

The draconian security law that Beijing forced upon Hong Kong last week contains an article making it illegal for anyone in the world to promote democratic reform for Hong Kong.

Why it matters: China has long sought to crush organized dissent abroad through quiet threats and coercion. Now it has codified that practice into law — potentially forcing people and companies around the world to choose between speaking freely and ever stepping foot in Hong Kong again.