Axios

Trump Media & Technology Group, the parent company of Truth Social, on Tuesday reported just $1 million in third quarter revenue and a $19 million net loss.

The big picture: Trump's presidential campaign didn't boost ad sales, as revenue was actually down a bit from the same period in 2023.

A largely subdued market Tuesday gave off an air of calmness while the rest the country stresses about the unfolding election — but don't be fooled.

Why it matters: The outcome could have a direct impact on the economy, stock market, currencies, crypto, regulations and taxes.

All eyes are on swing state voters this Election Day in what is expected to be one of the closest presidential contests in U.S. history.

Why it matters: No matter how divided U.S. politics may feel, tens of millions of citizens will all do the same thing today — exercise their right to vote.

The Biden administration warned the Iraqi government that if it doesn't prevent an Iranian attack from its soil, it could face an Israeli attack on its territory, two U.S. officials told Axios.

Why it matters: The U.S. is trying to deter Iran from attacking Israel and is concerned that if it does strike Israel from Iraqi soil it would further escalate the regional war.

The Election Day arrest of a man accused of attempting to bring a flare gun, lighter and "accelerant" into the U.S. Capitol is reigniting simmering concerns among lawmakers about security around the 2024 election.

Why it matters: Members of Congress in both parties fear that no matter who wins the highly charged presidential election, violence may inevitably follow.

Shares of former President Trump's social media company rose sharply Tuesday morning and then plunged suddenly in the afternoon in a volatile session as investors awaited election results.

Why it matters: Trump Media & Technology Group, which owns Truth Social, has become something of a proxy for investors to bet on Trump himself.

Don't expect to know whether former President Trump or Vice President Harris has won the presidency before you head to bed tonight.

Why it matters: The picture might come into focus by Wednesday morning, if one candidate strongly outperforms the polls, but it might also take days before the results are known.

With polls closing Tuesday evening, officials are warning that foreign adversaries will likely spread false stories about election hacks to undermine trust in the voting process.

Why it matters: Sharing lies that an election was hacked is a lot easier than hacking a voting machine.

Israeli Prime Minister Benjamin Netanyahu on Tuesday fired the country's minister of defense, Yoav Gallant.

Why it matters: Netanyahu's decision amid Israel's multifront war is being driven largely by domestic political pressure, including from members of his coalition government who are pressing him to pass laws that would exempt ultra-Orthodox men from serving in the military.

Stablecoins and regulatory structure have been the big focus for the crypto industry's legislative efforts, and three scenarios have emerged that provide the best chance for either one of them to pass before January.

Why it matters: The lame duck session of Congress — the period between the election and the swearing in of newly elected members — might not be lame at all for the blockchain industry.

Behind-the-scenes decision desks have come to define the modern political media mechanics of Election Night, which stretches well beyond a single day.

Why it matters: These desks' role has been complicated by the challenges of declaring a winner in swing states with tight margins and the growing popularity of mail-in or early voting.

Former President Trump told reporters after casting his ballot that he's not sure whether he'll declare victory on election night, as he did in 2020, and acknowledged the possibility he could lose.

Why it matters: Allies and adversaries alike expect Trump to announce he won, regardless of what results show, and to claim fraud if he loses. That gives added significance to Trump's statement that he currently believes this election has been "fair," and to his concession that there is even the slightest possibility Vice President Harris could win.

Former President Trump and his allies have vowed to go after the media in a second presidential term, but a strong U.S. legal and regulatory framework means bullying and harassment campaigns would probably be more effective than leveraging presidential powers.

Why it matters: Are there political levers the former president could pull to target media companies he doesn't like? Yes. But harassment campaigns and lawsuits that drain companies of time, money, resources and trust are much easier and can be just as punitive.

It's Election Day in the U.S. and people around the country are getting out to vote, which can look very different from one state to the next.

The big picture: The close contest between Former President Trump and Vice President Harris has seen threats, security concerns, and skepticism in the build up to today — the final chance for voters to have their say.

Texas leaders and the U.S. Justice Department made an 11th-hour agreement over federal monitors at polling places on Election Day.

The big picture: Texas Attorney General Ken Paxton late Monday sued the DOJ, asking a federal judge to restrain agency personnel from "being present at voting locations and central count stations in the 2024 election."

The 36.2 million Latinos who are eligible to vote in this year's presidential election are critical to its outcome.

The big picture: As the Latino population has grown and dispersed around all pockets of the country, it's become less reliably Democratic and less easy to predict. Here's some of what we've learned about Latino voters in this election season.

The Fed decided six weeks ago that it's time to loosen the screws on the economy. The bond market, and election year rhetoric, aren't cooperating.

Why it matters: For now, financial markets have settled on a new reality that America's political backdrop may keep interest rates higher than Fed officials anticipated when they commenced their rate-cutting campaign in September.

The FBI on Tuesday warned that videos promoting false election narratives featuring the agency's name and insignia were circulating online as voters cast ballots across the country.

Why it matters: Election disinformation could influence the results in the razor-thin presidential race and sow distrust in the electoral process and the election's outcome.

Former President Trump's chances of recapturing the White House fell sharply over the weekend across prediction markets like Polymarket and Kalshi. Then they climbed back up.

Why it matters: Volatility like this underlines why using betting markets to gauge the status of the presidential race is tricky. And yet, prediction and betting markets have emerged this year as a powerful force in shaping public opinion — and campaign messaging — about the horse race.

America's largest companies are talking to Wall Street about the stakes of the presidential race more this year than in recent election cycles.

Why it matters: The economic policy fallout from this election — huge tariffs? higher tax rates? — appears more high stakes for corporate America than in the recent past, at least if the elevated election talk is any guide.

America's whiplash election ends Tuesday when polls close nationwide following a year of political uncertainty and violence unlike any other in this country's modern history.

Why it matters: A perfect storm fueled by the unrelenting pace of historic headlines has conspired to test America and its democracy.

Don't let the early results on Election Night fool you. Delayed absentee ballot counts in key swing states could tilt how the presidential race ultimately shakes out.

Why it matters: President Trump seized on phenomena known as the "red mirage" and "blue shift" to push baseless claims in 2020 that the election had been stolen. Experts say there's potential for a similar shift this year, too.

An "I Voted" sticker is your ticket to freebies and deals this Election Day.

Why it matters: It's technically illegal to offer freebies in exchange for votes and businesses typically get around this by offering the deals to all.

The vast majority of America's largest newspapers by circulation aren't endorsing a presidential candidate this year, marking a stark departure from previous election cycles.

Why it matters: Endorsements have fallen off significantly in the past two election cycles as papers grapple with growing polarization and fears of political retribution.

Some state GOP officials and former "fake" electors from 2020 who are serving again in this year's election don't plan to fall in line with any push to overturn the results if Vice President Harris wins their state, Axios has learned.

Why it matters: It's the latest sign that if Republicans try to reverse an election loss by Donald Trump this year in a way similar to the alleged elector scheme of 2020, it will be tougher to carry out.

Lies and propaganda about presidential candidates' stances, voting system security and the integrity of American democracy are multiplying ahead of Election Day.

Why it matters: Russia, China and Iran are peddling fake videos at a rate never seen before — and they're racking up likes and engagement on social media platforms.

Vice President Harris and former President Trump spent the eve of Election Day campaigning in the key swing state of Pennsylvania on Monday.

Why it matters: Polls show the Democratic and Republican presidential candidates are effectively tied in all seven battleground states, including Pennsylvania — which Axios' Dave Lawler notes is likely to swing the election one way or the other.

Vice President Harris and former President Trump tied in Dixville Notch as the first Election Day results were announced Tuesday in the tiny New Hampshire township.

The big picture: An election official noted voters in the town were "following the national trends" in the midnight vote, with three people voting for Harris and three others for Trump. Polls show the presidential race is a virtual dead heat.

Flashback: Biden wins all 5 votes in Dixville Notch after township's midnight election

Boeing's strike that began in mid-September "has ended" after 59% of workers voted on Monday night to ratify a new contract, the union announced at midnight.

Why it matters: The walkout of thousands of machinists crippled Boeing's production in a year when the aerospace giant's reputation was already wounded amid high-profile quality and safety issues.

Election polling locations are open Tuesday and so are most businesses since the day is not a federal holiday.

Why it matters: No federal law mandates that employers give employees time off to vote and fewer than half of U.S. states require employers to provide paid time off to vote.

Thousands of people packed Philadelphia's Benjamin Franklin Parkway to hear Vice President Kamala Harris give her final pitch to voters on Election Day eve.

Why it matters: Turnout in Philly is critical to Harris winning the swing state, and her rally could energize voters hours before the polls open.

A Georgia poll worker was arrested and charged with mailing a bomb threat to election workers on Monday, the Department of Justice announced.

The big picture: The arrest comes as police step up security around the White House and Vice President Harris' residence in D.C. and National Guard units in several states and local law enforcement agencies prepare for possible Election Day violence.

Some schools across the U.S. are electing not to serve as polling sites over security concerns.

The big picture: At a time when schools are face rising threats of violence, so are voting sites. Jurisdictions across the U.S. are taking steps to protect election workers amid concerns about voter intimidation and possible violence at the polls this November.

Vice Presidential nominee Sen. JD Vance (R-Ohio) criticized Vice President Harris for disrespecting Americans moments before calling her "trash."

The big picture: In an effort to cast the GOP ticket in a diverging light, Vance linked Harris to President Biden apparently calling the MAGA base "garbage" last week, criticizing the VP for "the complete disrespect, the condescension and even the hatred in the way that she talks about her fellow citizens."

Joe Rogan endorsed former President Trump for president on Monday evening.

Why it matters: The podcaster's endorsement of the GOP presidential nominee on the eve of Election Day could be a major boost for Trump as "The Joe Rogan Experience" is particularly popular among young men — a key voter demographic for the Republican.

Millions of Americans will cast ballots on Election Day, joining the 80 million-plus who voted early or absentee in the high-stakes election.

Why it matters: Voters should brace themselves for lines at the polls, with some parts of the country expecting record turnout.

It may be days or even weeks after Nov. 5 before control of the White House and Congress becomes clear, but several House races could serve as early indications of which way the night is going.

Why it matters: These are the canaries in the coal mine for both parties, highly competitive races in states that report their votes early and quickly.

Axios is reporting live results for gubernatorial elections in 11 states. As of 2025, 27 states will have Republican governors and 23 will have Democratic governors.

Axios is reporting live results for the 34 U.S. Senate seats up for election. Republicans flipped the base number of seats needed to control the Senate in 2025.

Axios is reporting live results for the U.S. House, where either party needs 218 seats to win control. Republicans have a narrow majority, while Democrats need a net pickup of just four seats to regain control.

Axios is reporting live results for the 2024 general election based on race calls made by the Associated Press. Former President Trump was projected to win the presidency after surpassing the 270 electoral votes needed to win. Republicans flipped the Senate, while control of the House remains unclear as states continue to process ballots.

Elon Musk's attorney argued in a Philadelphia courtroom Monday that the tech mogul's $1 million-a-day sweepstakes winners are not chosen at random but instead are earning payment for acting as a spokesperson, multiple outlets reported.

Why it matters: Musk, one of former President Trump's biggest backers, found himself in hot — but murky — legal waters over the attention-grabbing giveaway after Philadelphia District Attorney Larry Krasner (D) filed a lawsuit over the contest. But Judge Angelo Foglietta reportedly denied the request.