Hunter Biden has agreed to plead guilty to not paying taxes in 2017 and 2018, and he'll enter into a probation agreement on a charge of illegally owning a gun while being a drug user, according to a court filing by the U.S. attorney in Delaware.

🖼️ The big picture: Hunter’s plea deal is not the end, Axios' Alex Thompson writes.

• Congressional Republicans will continue to investigate him. And he'll only avoid prosecution for his gun felony if he stays drug-free for a set period of time, something he has struggled with in the past.

Former President Trump has said he will appoint a special counsel to “go after” the Biden family if he wins the next election, and several other Republicans running for the nomination criticized the plea deal.

• If a Republican wins the presidency in 2024, Hunter could be investigated again.

⚡ Catch up quick: The Justice Department charged that Hunter possessed a Colt Cobra revolver in Delaware in October 2018 while “knowing that he was an unlawful user of and addicted to a controlled substance.”

• The maximum penalty for the gun charge is 10 years in jail and a fine of $250,000.

Hunter was also charged with failure to timely file and pay taxes in 2017 and 2018 when, by his own admission, he was in the throes of an addiction to crack cocaine.

🔭 What to watch: Hunter is set to appear and be arraigned in a federal court in Delaware in the coming week where he will enter his guilty plea.

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An international team of rescuers has scoured an area roughly the size of Vermont in the remote Atlantic Ocean, looking for a lost submersible that was on an expedition to the Titanic's wreckage.

• U.S. Coast Guard officials said this afternoon that the search continues and has not yet yielded any results.
• Rescuers are racing against the clock as the oxygen supply on board the sub is expected to run out by Thursday morning.

The people on board, via AP:

• Stockton Rush, CEO of OceanGate, the company leading the expedition.
• Hamish Harding, a British businessman and billionaire adventurer who holds three Guinness World Records.
• Father-and-son Shahzada and Suleman Dawood, members of one of Pakistan’s most prominent families.
• Paul-Henry Nargeolet, a former French navy officer and Titanic expert.

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Paris will mark a "return to normal" after two Olympic Games — Tokyo 2020 and Beijing 2022 — were overshadowed by COVID, Molly Solomon, president of NBC Olympics Production told Axios on stage today at the Cannes Lions Festival on the French Riviera.

Here's what to expect:

• The opening ceremony will include "athletes floating down [the Seine River] in boats," she said.
• Paris is only six hours ahead of Eastern time. So that means many of the biggest events will be shown live from 2 to 5 p.m. ET.