Illustration: Sam Jayne / Axios

Spotify is a giant step closer to going public without engaging in a traditional IPO process, as the SEC has approved a New York Stock Exchange request to modify certain rules related to direct listings.

Why it matters: The direct listing for Spotify, which confidentially filed to go public in late December, is being closely watched by other tech "unicorns," like Airbnb, Lyft and Uber. If successful, others might follow suit.

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Trump administration cuts refugee cap to new record low

Photo: Mandel Ngan/AFP via Getty Images

The Trump administration plans to only admit a maximum of 15,000 refugees this fiscal year, the State Department said in a release late Wednesday evening.

Why it matters: This is yet another record low refugee cap. Before leaving office, President Obama set the refugee limit at 110,000 for fiscal year 2017 — a number Trump has continued to slash throughout his presidency.

Updated 25 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Global: Total confirmed cases as of 9 a.m. ET: 34,018,143 — Total deaths: 1,014,995 — Total recoveries: 23,674,533Map.
  2. U.S.: Total confirmed cases as of 9 a.m. ET: 7,234,327 — Total deaths: 206,963 — Total recoveries: 2,840,688 — Total tests: 103,939,667Map.
  3. Health: New poll shows alarming coronavirus vaccine skepticism — New research centers will study "long-haul" COVID — Coronavirus infections rise in 25 states.
  4. Business: Remdesivir is good business for Gilead.
  5. Retail: The holiday shopping season will now begin in October.
  6. 🎧Podcast: The looming second wave of airline layoffs.
Kendall Baker, author of Sports
48 mins ago - Sports

Barstool jumps into sports betting

Illustration: Eniola Odetunde/Axios

Barstool Sports was founded in 2003 as a free gambling newspaper. It later became a sports blog before growing into a media empire, and now things have come full circle with the recent launch of its own branded sportsbook.

Driving the news: The Barstool Sportsbook app saw a record 21,000 downloads per day during its first weekend (Sept. 18–20), breaking DraftKings' and Fanduel's daily records despite Pennsylvania being the only state where it was operational.

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