Five Investing Myths Challenged by Probability Theory - Index Fund Advisors, Inc.

Open this photo in gallery:U. S. President Donald Trump in the Oval Office of the White House on Tuesday. Jacquelyn Martin/The Associated PressA lawsuit challenging U. S. President Donald Trump’s tariffs targeting Canada has been filed in the United States Court of International Trade. The lawsuit, filed today by the non-profit Liberty Justice Center on behalf of U. S. food importer Gellert Global Group, argues Trump’s use of a Depression-era trade statute exceeds his power as president. Trump used Section 338 of the Tariff Act of 1930 to slap an array of Canadian goods with a 50 per cent levy after trade talks broke down in August. Ottawa’s accounting obscures true scale of borrowing, PBO says ahead of 2026 budgetThe same statute was used the following month to ban the import of other Canadian goods, including motorcycles and some alcohol and dairy products. Liberty Justice Center CEO Sara Albrecht says in a news release that no president should have the power to pull a dormant statute off the shelf and use it to impose sweeping tariffs or import bans. The lawsuit asks the court to declare the tariffs unlawful and order a refund.

Plan would repay lenders through a $1.7-billion equity rights offering and a $1.5-billion loan

Utah Attorney General Derek Brown announced a lawsuit against Kalshi, its affiliates and two Susquehanna trading companies, alleging that the prediction markets platform had been facilitating illegal betting in the US state since 2024. In a Tuesday press briefing, Brown said Utah officials had petitioned a court to compel the companies to return about $30 million to $60 million in profits they made through allegedly illegal event contracts. The Utah attorney general alleged that Kalshi illegally offered its services to more than 32,000 users in the state, resulting in significant losses. “Under Utah law, I have determined that this operation is causing a significant and substantial ongoing harm to a significant number of Utahns,” said Brown. “And so today, we are asking the court to stop sports, elections, politics, culture and mention bets here in Utah.” Kalshi sued Utah in February after lawmakers passed a bill on betting on prediction markets as gambling under state law. In August, a judge ruled in favor of Utah officials, saying federal laws under the US Commodity Futures Trading Commission (CFTC) do not preempt state gambling laws.

SummaryThe U. S. Commodity Futures Trading Commission released the agenda for its first "Frontier Forum" event next week, hosted by the agency's Innovation Task Force. The October 28 event will invite leaders in the artificial intelligence space to discuss how AI may shift how the U. S. derivatives markets operate. The potential effects of artificial intelligence in the derivatives markets will be in focus at the U. S. Commodity Futures Trading Commission's first in a new series of meetings hosted by its Innovation Task Force on October 28. Using President Donald Trump's favored "super intelligence" descriptor, the agenda released on Tuesday marks the opening outing of what the regulator is calling its "Frontier Forum" series. It begins with a look at how derivatives markets may respond to the influx of machine intelligence and how the technology may impact price discovery and risk management. "Super intelligence is poised to transform our financial markets,” said CFTC Chairman Mike Selig in a statement. The task force said the event will hear from leaders in the space, including the heads of firms such as Ornn, Architect and Liquid Compute.

Open this photo in gallery:Matthew Proud, chief executive officer of MAK, at his Toronto office in September, 2025. DUANE COLE/The Globe and MailMatthew Proud’s special purpose acquisition company has made good on its threat to pull out of a proposed combination with last-mile delivery company UniUni. The Toronto Stock Exchange-listed SPAC, called MAK Acquisition Corp. MAK-U-T on Tuesday delivered a notice of termination to UniUni, officially known as Uni Express Inc., of a May purchase agreement between the two entities. Mr. Proud, the former chief executive officer of the chronically governance- and debt-challenged Toronto legal software company Dye & Durham Ltd., is CEO of MAK. MAK warned in a notice of breach last month to UniUni that it could pull out of the deal, stating that the delivery company hadn’t lived up to its commitment under their combination agreement “to operate its business within certain specific parameters” including limiting its pretax loss to a defined maximum cumulative amount.

Streaming service cites “intense competition’ and acknowledges ‘some investor concern about our view hours growth.”