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Trading could soon be very different on the Nasdaq stock market if the stock exchange gets its way. Thats because Nasdaq president Tal Cohen has announced the exchanges plans to introduce 24-hour trading to the platform in the near future. The move to 24-hour trading would represent a seismic shift for the Nasdaqand present opportunities and challenges to investors, businesses, and the media who cover them. Heres what you need to know. Nasdaq proposes 24/5 trading In a blog post published today, Nasdaq president Tal Cohen has proposed what is colloquially called 24/5 tradingthe ability to trade stocks and other securities on exchange 24 hours a day for five days a week. In the blog post announcing Nasdaqs intention, Cohen calls the potential move a pivotal moment of modernization for the exchange. We are excited to share that Nasdaq has begun engaging with regulators, market participants and other key stakeholders, with a view of enabling 24-hour trading five days a week on the Nasdaq Stock Market, he wrote, noting that 24-hour trading could expand wealth-building opportunities and broaden investor access. However, the Nasdaq operates in a highly regulated industry, so it cannot unilaterally decide to offer 24-hour trading. Not only does it need to get regulatory approval, but it must also ensure that it and its technology and financial partners that enable millions to trade securities on its platform have it within their means to facilitate a switch to 24-hour trading. The U.S. equities markets process millions of messages per second, and every incremental changewhether in trading rules or the guardrails that protect investorsrequires seamless industry-wide coordination, thoughtful planning, testing, and coordinated implementation, Cohen noted. A harmonized and aligned approach across all markets is key to avoiding operational complexity and ensuring a seamless customer experience.” While Cohen didnt explicitly state the companys new proposed 24-hour trading hours, given that they would be five days a week, the new trading period would likely run from 12:01 a.m. on Monday to 11:59 p.m. on Friday, Eastern Time (ET). Currently, the Nasdaq trades from 9:30 a.m. to 4:00 p.m. ET Monday to Friday, like other major U.S. markets. The Nasdaq also currently offers extended trading hours. Premarket trading runs from 4:00 a.m. to 9:30 a.m. ET, and post-market trading runs from 4:00 p.m. to 4:05 p.m. and 4:05 p.m. to 8:00 p.m. ET, Monday to Friday. If the Nasdaq gets approval for its new 24/5 trading schedule, it will add an additional eight hours to every trading day. Who does 24/5 trading benefit? Well, one of the biggest beneficiaries, of course, is Nasdaq. The exchange makes its money by charging fees for the services it provides with each trade. The more trades being made, the more money Nasdaq stands to make. But Nasdaq would argue that a move to 24/5 trading will benefit investors in general, who would be able to trade any time they want during the five-day workweek. However, another big benefit would be to a specific type of investor: those who live internationally, especially those in Asia. Due to time differences, many investors in Asiaat least retail investorsare typically off work or sleeping for the night when American exchange activity is at its height. For example, there is a 14-hour time difference between Japan and New York. By switching to a 24/5 trading schedule, investors in Asia would have more access to U.S. markets during their normal waking hours. Attracting more investment to our markets presents a compelling opportunity for both the U.S. and global economy, Cohen wrote. It is therefore incumbent on us to enhance access for those operating across different time zones.” Companies and the media may find 24/5 trading challenging Of course, while Nasdaq and international traders might find 24/5 trading beneficial, other entitiesincluding the companies whose shares trade on the Nasdaq and the media who report on themcould find the move challenging. Companies, especially the ones found on the tech-heavy Nasdaq, like Apple, Amazon, Alphabet, Nvidia, and more, like to control when investors receive news about them, as much as they can, anyway. The reason for this is that news, especially when it’s first disseminated, can make a stocks price swing wildly in one direction or another. This is why many companies report their earnings before or after regular market hours. Retail investors typically dont trade in those hours, which helps mitigate any large-scale fear- or greed-based selling or buying when news hits. If stocks are traded 24/5, companies lose this bufferwhich could lead to increased trading volatility. If this change happens, every CEO or CFO will have to be extra careful what they say during earnings calls, as any statementcorrectly interpreted or notcould lead to instant trading volatility. And for the media covering Nasdaq companiesand the markets in generalwell, they will no longer be able to call it a night after 4 p.m. If the Nasdaq is trading 24/5, that means U.S. financial news is now happening 24/5, and investors are going to want real-time analysis and updates. When does Nasdaqs new trading begin? Currently, theres no definitive date for Nasdaqs 24/5 trading sessions to begin because the change needs to be approved by regulatorsand Nasdaq needs to get the buy-in from its partners and the companies that trade on its exchange. However, if everything goes as Nasdaq would like, Cohen says the company anticipates 24/5 trading to begin in the second half of 2026. Nasdaq, Inc. shares (Nasdaq: NDAQ) are currently down less than 1% to around $75.56 in early morning trading after the news was announced.
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E-Commerce
It turns out 2025 isn’t the year for legalized sports betting in Georgia.Efforts to send a state constitutional amendment to voters failed Thursday in the state legislature, as neither the amendment nor a bill laying out details ever came to a vote in the House.Voters in Missouri narrowly approved sports betting in a 2024 referendum, making it the 39th state to legalize the practice. But like in Georgia, legalization faces high hurdles in the 10 remaining states that bar sports gambling.Thursday was the deadline for each Georgia chamber to pass its own legislation to the opposite chamber. The measures still could be revived in the last month of the session, but it much less likely. Lawmakers could still consider the measures in the 2026 half of Georgia’s two-year session.“It came in late and I guess people just weren’t there yet,” said House Higher Education Committee Chairman Chuck Martin, an Alpharetta Republican, referring to a bill and constitutional amendment that were introduced only last week.“We’ll keep working with people and trying to do what’s in the best interest of the state,” Martin said, saying a referendum was still possible in on the November 2026 ballot.Sports wagering is backed by Atlanta’s professional sports teams, business groups and Republican Lt. Gov Burt Jones. But those powerful proponents have struggled to pass a law in the seven legislative sessions since the U.S. Supreme Court in 2018 struck down a federal law that banned commercial sports betting in most states.In Minnesota, a proposal failed on a 6-6- tie vote in a Senate committee on Feb. 13, even though the sponsor said his bill was supported by the state’s 11 Native American tribes, which operate casinos, the state’s two horse racing tracks, charitable gambling operations and local sports teams.California voters rejected wagering in 2022. A proposal to legalize sports betting passed the Texas House in 2023, but the state Senate spurned the proposal.One state where the issue is making progress is Hawaii, where the state House on Tuesday passed a bill that would legalize online sports betting.Missouri is currently making rules and taking applications from sportsbooks, with the launch of legal betting delayed until late summer or early fall.Without Democratic votes in Georgia, a constitutional amendment couldn’t achieve the two-thirds majorities needs to pass the state House and Senate.Republicans in the state are far from unified. Some GOP lawmakers oppose sports betting, warning that legalizing sports betting will provide a pathway to addiction, especially for younger gamblers.House Minority Whip Sam Park, a Lawrenceville Democrat, said Wednesday that his party wants to prioritize use of any tax money for prekindergarten. That was part of the constitutional amendment proposed by Martin’s committee.Supporters have argued that Georgians should get a chance to vote, arguing many already bet on sports illegally.“I believe strongly and Georgians by wide margins agree with me that this change will not only bring in much needed revenue to educate our youngest learners but also provide consumer protections that don’t exist in today’s black market,” State Rep. Marcus Wiedower, the Watkinsville Republican who sponsored the measure, said in a statement.Of the 38 states that currently allow sports betting, some allow only in-person bets, although most allow electronic betting from anywhere. Jeff Amy, Associated Press
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E-Commerce
President Donald Trump signed an executive order Thursday establishing a government reserve of bitcoin, a key marker in the cryptocurrency’s journey towards possible mainstream acceptance.Under Trump’s new order, the U.S. government will retain the estimated 200,000 Bitcoin it’s already seized in criminal and civil proceedings, according to Trump’s “crypto czar” David Sacks.“The U.S. will not sell any Bitcoin deposited into the Reserve. It will be kept as a store of value. The Reserve is like a digital Fort Knox for the cryptocurrency often called ‘digital gold,'” Sacks said on social media.The executive order calls for a “full accounting” of the government’s Bitcoin holdings, which Sacks said have never been fully audited. He added that the U.S. government has previously sold off about 195,000 Bitcoin over the last decade for $366 million. He said those Bitcoins would be worth about $17 billion if the government hadn’t sold them.Sacks said the order allows for the Treasury and Commerce Departments “to develop budget-neutral strategies for acquiring additional Bitcoin.”Once a skeptic who said a few years ago that Bitcoin “seems like a scam,” Trump has embraced digital currencies and leaned into his unofficial role as the “crypto president” in ways that can both help the crypto industry and enrich himself and his family. Wealthy players in the crypto industry, who felt unfairly targeted by the Biden administration, spent heavily to help Trump win last year’s election.Establishing a Bitcoin reserve was one of several crypto-related promises Trump made on the campaign trail last year. Trump is also pushing Congress to pass industry-friendly legislation, and under his administration the Securities and Exchange Commission has started dropping enforcement actions it had taken against some major crypto companies. On Friday, Trump is set to host many key industry leaders at a White House “Crypto Summit.”Bitcoin is the oldest and most popular cryptocurrency. Created in response to the 2008 financial crisis by an anonymous person or persons, Bitcoin has blossomed from an experiment by libertarian cryptography enthusiasts into an asset with a market cap of about $1.7 trillion. While it hasn’t taken off as a way to pay for everyday things, Bitcoin has found popularity as a store of value that’s not controlled by banks, governments or other powerful entities.Bitcoin’s supply is capped at 21 million coins, a built-in scarcity that supporters say makes it a great hedge against inflation. Critics have long said Bitcoin lacks any inherent value, but it’s so far defied naysayers with remarkable price increases. Some supporters of a strategic Bitcoin reserve said it could one day help pay off the U.S. national debt.Crypto prices soared after Trump’s victory last year, and when the price of Bitcoin first crossed $100,000 in early December, Trump took credit and posted “YOU’RE WELCOME!!!” on social media.But prices have since cooled off. Trump’s executive order did not equate to an immediate price spike for Bitcoin, which was trading around $86,000 shortly after his announcement.The executive order also creates a “U.S. Digital Asset Stockpile,” where the government will hold seized cryptocurrencies other than Bitcoin. On Sunday, Trump sent crypto prices on a short-lived surge after a surprise announcement that he wanted the government to hold lesser-known cryptocurrencies XRP, Solana, and Cardano. Alan Suderman, AP Business Writer
Category:
E-Commerce
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