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The soccer tournament has helped propel the prediction markets to new user records, creating what may be the largest gambling event in history.
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As Trump Scraps With Meloni, His Envoy to Italy Is at Sea The New York TimesTrump's envoy faces protests in Venice on latest stop of super yacht diplomacy tour AP NewsBillionaire U.S. ambassador greeted by protests in Venice on latest stop of super yacht diplomacy tour NBC NewsTrump envoy's tour on $450mn superyacht stirs anger in Italy Financial Times
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World Cup final: Spain vs Argentina - Which team has best chance to win? Al JazeeraSpain captain Rodri says team must raise level vs. Argentina ESPNArgentina vs. Spain odds, prediction, time: 2026 World Cup final picks from expert on 20-9 roll CBS SportsWorld Cup Final Drives Billions in Bets on Kalshi and Polymarket The New York Times
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The betting site Kalshi emerged as a dominant sports betting platform during the World Cup. But the company avoids billions of dollars in taxes by insisting it is not a sports gambling operator.
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There's no way to sugarcoat this: Small and midsize businesses should be scared to death about the consequences of the Inflation Reduction Act. Unless they provide goods and services to the green energy industry, the law's unforeseen consequences could increase their operating expenses in two ways. Here's what to expect — and how to prepare.
SEE MORE Audit-Proof Your Small Business
The Inflation Reduction Act is essentially a climate change law with some health care benefits. While the new legislation doesn't include any direct tax increases on small and midsize businesses, some of its provisions have the potential to raise costs for these companies significantly.
First Reason Why Cost of Business Could Be Going Up
For one, your chances of being audited may be going up. The new bill substantially expands the Internal Revenue Service's budget: More than half of the $80 billion increase in the IRS budget over 10 years will be used to beef up enforcement through new technology and new hires. That means more audits for companies that are the least able to financially manage them. I worry for businesses that gross $5 million or less since they usually don't have excess funds to pay a lawyer $50,000 to fight the IRS if their matter proceeds to court.
In a letter to the Senate, the agency's commissioner said, "These resources are absolutely not about increasing audit scrutiny on small businesses or middle-income Americans." Even so, with the hire of new auditors, it's likely that people with little or
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