NRA annual convenion in May 2018. Photo: Loren Elliott/AFP/Getty Images.

U.S. gun-control groups outspent gun-rights groups for the midterm elections by 40% — largely because of funding from billionaire Michael Bloomberg — unraveling the National Rifle Association's longstanding dominance in spending on gun politics, Reuters reports.

Why it matters: It's the first time in about 20 years the spending is reversed in federal races. However, gun-control groups have outspent gun-rights advocates in state elections in recent years.

By the numbers: Data from the Federal Election Commission shows that gun-control groups spent about $20 million so far in the federal election campaign, outspending by pro-gun groups, mostly the NRA, by nearly $6 million. Per Reuters, Michael Bloomberg has promised an additional $100 million towards House and Senate Democrats this year.

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Investors are betting the future is priced in euros

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It's the euro's time now — at least that's how investors have been positioning recently.

What's happening: Speculators have raised their bets to the highest in nine years that the dollar will fall and increased bullish bets that the euro will rise to the highest level on record, Reuters reported citing data from the CFTC.

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Illustration: Annelise Capossela/Axios

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  4. Public health: America's flying blind on its coronavirus response.
Mike Allen, author of AM
3 hours ago - Politics & Policy

3 keys to Joe Biden picking Kamala Harris

Photo: Jeff Kowalsky/AFP via Getty Images

Three quick points about Joe Biden's historic selection of Sen. Kamala (pronounced COMMA-luh) Harris of California as his running mate — and clues they give us to how Biden would govern:

  1. She was always at the top of his list. As I look back through my text threads with top Dems over the past five months, she was always assumed to be the most likely pick.