Texas sues Kenvue and J&J, Truth Social to offer prediction markets

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We are watching Kenvue and Johnson & Johnson, DR Horton, and Trump Media. First up, Kenvue and Johnson & Johnson, the state of Texas sued the companies, alleging that they hid the risks of autism and other disorder disorders for mothers taking Tylenol during pregnancy. Texas has alleged both companies knowingly withheld evidence that the active ingredient in Tylenol was linked to autism and ADHD. Kenvue called the allegations baseless and asserted that its medication is safe for pregnant women to take. Kenvue a Johnson and Johnson spin-off has made Tylenol since 2023. Texas claims the spin was to shield Johnson and Johnson from from liability from Tylenol’s risks. It is worth noting that the link between autism and taking Tylenol with when pregnant is not proven.

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Next up, DR Horton beating estimates for quarterly home order orders as buyers got a lift from falling mortgage rates. DR Horton, which focuses on the first-time buyer market, has been held back by affordability concerns. Many builders, including DR Horton, have been discounting properties and offering incentives to keep sales moving.

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And finally, Trump Media, the social media company getting into the prediction markets business. DJT plans to make prediction contracts available on its truth social network that will allow users to bet on events ranging from political elections to inflation rate changes. The initiative adds to recent efforts by Trump Media to capitalize on its retail following. It also comes after trading volume on the leading marketplaces, Polymarket and Kalshi, hit a fresh record.

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