MAGA godfather Steve Bannon is laying the groundwork for a 2028 run for president, two people familiar with his thinking tell Axios' Alex Isenstadt.

Why it matters: The former White House adviser isn't serious about becoming president — that's not the point. Instead, he's told allies he wants to shape the debate and pressure Republican candidates to embrace an "America First" agenda — including a non-interventionist foreign policy, economic populism and opposition to Big Tech.

• Former Rep. Matt Gaetz (R-Fla.), who has appeared on Bannon's "WarRoom" podcast, said: "The Bannon campaign will merge the foreign policy of Rand Paul with the tax policy of Elizabeth Warren."

Bannon adamantly denied a run to Axios: He called the idea "bullsh*t" and said he's been focused on something else for 2028: supporting a third term for President Trump, despite the Constitution's two-term limit on presidents.

• "We don't have a country if we don't get every ounce of fight and energy from President Trump — you can drive a Mack Truck through the 22nd Amendment — and that's exactly what I intend to do in order to save our country," Bannon told us.
• Bannon said he's helping with an upcoming book by lawyer Alan Dershowitz, "Could President Trump Constitutionally Serve a Third Term?" The legal analysis, out in March, lays out an argument for how Trump could constitutionally serve a third term.

The intrigue: Bannon associates, familiar with his private comments on the 2028 election, envision a nontraditional campaign run from his Capitol Hill podcast studio — and without rallies in early primary states such as Iowa and New Hampshire.

• A Bannon ally said the biggest "tell" that he's weighing a run is his cheerleading for a third Trump term. "When Trump doesn't end up running, he'll reluctantly say he must carry the mantle," the ally predicted.

🥊 For now, Bannon is not-so-subtly pressuring three potential GOP contenders for president in 2028 — Vice President JD Vance, Secretary of State Marco Rubio and Sen. Ted Cruz (R-Texas).

• Bannon yesterday orchestrated a massive "Save Texas from Radical Islam" all-day conference and dinner, including 150 grassroots leaders from 22 groups, in Grapevine, Texas. The event was organized by WarRoom and sponsor Patriot Mobile, with Glenn Beck as keynote. Bannon told us the event drew 750 — the ballroom limit — with 1,000+ requests for tickets. He launches "WarRoom: Texas" on Monday.

🎙️ Bannon told us he's moving his show to Texas for the entire month of February to focus on a Texas primary on March 3.

• Share this story ... Axios' Holly Otterbein contributed.

Former prosecutors and criminal defense attorneys are alarmed by the Trump administration's "highly unusual" decision to kick local investigators off the probe into the deadly ICE shooting in Minneapolis.

• Why it matters: Politicians on both sides rushed to weigh in on whether the killing of 37-year-old Renee Nicole Good was justified. With so many officials making snap judgments — and the feds' lockdown of the evidence — widespread acceptance of the results seems unlikely, Axios' Brittany Gibson and Marc Caputo report.

"This is what a cover-up looks like," said Dan Gelber, former federal prosecutor and Miami Beach mayor.

• "It's shocking to me that this is the route and the path that it's taking, because I do believe that it undermines the public trust in the government," said Eric Nelson, one of the defense attorneys for Derek Chauvin, a former police officer convicted in 2021 for the murder of George Floyd.

Driving the news: The Minneapolis Bureau of Criminal Apprehensions said the agency is being barred from the crime scene, evidence and interviews.

• Hennepin County Attorney Mary Moriarty said that without evidence-sharing, her office can't evaluate the case for charges.

The Justice Department blamed Minneapolis Mayor Jacob Frey (D), who called self-defense a "bullsh*t" reason for the shooting.

• Because of the comment, a Justice Department official said, "They have no intent to pursue a good-faith investigation."

A new video, circulated by online media outlet Alpha News, shows the shooting that took Renee Nicole Good's life from the perspective of the agent who fired the gun, who was recording the encounter on his phone.

• Vice President Vance, reposting the video on X, said: "Watch this, as hard as it is."

5 takeaways from the video via WashPost (gift link).

Protests sweeping across Iran near the two-week mark today.

• With the internet down in Iran and phone lines cut off, gauging the demonstrations from abroad has grown more difficult. But the death toll in the protests has grown to at least 65 people killed and over 2,300 others detained, according to the U.S.-based Human Rights Activists News Agency.

Supreme Leader Ayatollah Ali Khamenei has signaled a coming clampdown despite U.S. warnings.

• Secretary of State Marco Rubio posted today on X: "The United States supports the brave people of Iran."

Get the latest.

President Trump hosted top oil executives at the White House yesterday and urged them to invest $100 billion in Venezuela, which he suggested the U.S. may "run" for years, Axios' Zachary Basu writes.

• ExxonMobil CEO Darren Woods was blunt: "We've had our assets seized there twice. And so you can imagine to reenter a third time would require some pretty significant changes. Today, it's uninvestable."

Drill deeper ... Exxon statement.

A drug marketed as "pink cocaine" is turning up more often in U.S. nightclubs and busts, Axios' Russell Contreras reports.

• Why it matters: No two batches are the same. The potent powder is a dangerous cocktail of drugs, commonly ketamine and ecstasy, sometimes mixed with methamphetamine or fentanyl. That unpredictability sharply raises the risk of overdose.

⚡ Catch up quick: Authorities from Los Angeles to Miami have reported busts or issued strong warnings involving pink cocaine, also known as tuci or tusi, in recent months.

• New York City investigators last year seized pink cocaine along with dozens of guns in a Tren de Aragua-linked trafficking case.

"There is no antidote for pink cocaine," says Kaitlyn Brown, clinical managing director for America's Poison Centers. "All responders can do is support the patient while the drugs clear their system."

• Read on.

The days of quiet quitting are over. Gen Z is navigating today's tough job market with side gigs, Axios' Sami Sparber reports.

• Side hustles, including retail and gig work, can range from hosting bar trivia to working the polls in election season to driving and delivery work for Uber, Lyft, DoorDash or Instacart (or multiple apps at once!).

Why it matters: Over half of Gen Z-ers (57%) now have side hustles, compared with 21% of Boomers and older, according to The Harris Poll, which dubbed them "America's first true 'side hustle' generation."

• Most are picking up side hustles for extra cash. Some are chasing creative or entrepreneurial goals. "For Gen Z, the day job funds the passion project," Glassdoor researchers wrote.

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