Biden DOJ's political targeting

What happened: The Biden DOJ has been criticized for political targeting. It's continuing to enforce an unconstitutional legal theory against gun owners (Gun Owners of America, April 2023). It settled with retired Gen. Michael Flynn, acknowledging a malicious Russiagate prosecution (The Epoch Times, April 2023). Democrats introduced legislation to ban prediction market bets on elections and government actions (April 2023). Sen. Warren found no anti-corruption protocols for Trump's children in defense contracts (CNBC, April 2023). A Biden-era intel assessment targeted white moms and homemakers as potential domestic terrorists (American Greatness, April 2023). The FBI was found to have misled the court to spy on a second Trump campaign adviser (RealClearInvestigations, April 2023). Rep. Swalwell dropped a lawsuit against FHFA director Bill Pulte (April 2023). The DOJ sued Minnesota over rules for girls' sports (The Center Square, April 2023). More names targeted by the Biden DOJ's fishing expedition were revealed (Headline USA, April 2023).

Market impact: These developments could impact sectors tied to political sentiment, such as defense contractors (e.g., Lockheed Martin, Raytheon Technologies), gun manufacturers (e.g., Smith & Wesson, Sturm, Ruger), and prediction market platforms (e.g., PredictIt, Augur). They may face regulatory headwinds, valuation repricing, or shifts in demand due to changing political dynamics.

What to watch next: Upcoming catalysts include the midterm elections (November 2023) to gauge political sentiment, any further DOJ actions or settlements, and the Supreme Court's decision on gun regulations (expected by June 2023).