Good morning. A jury unanimously rejected Elon Musk’s claims against OpenAI, finding that he brought his lawsuit against the company and Chief Executive Sam Altman after the statute of limitations expired.

• Why? In deliberations that lasted less than two hours, the nine-person panel found against Musk on technical grounds. He had alleged in testimony that the startup behind the world’s most popular chatbot “stole a charity” when it converted into a for-profit company. U.S. District Judge Yvonne Gonzalez Rogers, who presided over the case, accepted the verdict and dismissed the claims.
   
• Musk’s reaction: Musk’s attorney said in court that his side will reserve its right to appeal. Musk, in a post on his social network X, described the ruling as a terrible precedent and accused the judge of using the jury as a fig leaf.
   
• What next for OpenAI? OpenAI now has a clear path to a public listing. In the past year, the company that makes ChatGPT has managed a host of challenges. These have included renegotiating a relationship with longtime partner Microsoft that had grown acrimonious at times, gaining regulatory approval for a conversion to a for-profit business, and the rise of rival Anthropic as a formidable competitor that has emerged as a presumptive front-runner in the AI revolution.
   
• Impact: The verdict brings to a close a case that fixated the tech world on the grievances and drama of some of the most powerful personalities in artificial intelligence.

Justice Department drops criminal case against Indian billionaire Gautam Adani.

The Justice Department said it would drop its criminal fraud case against billionaire Gautam Adani as part of the Trump administration’s broader move to resolve pending matters against the Indian business magnate and his associates.

The settlement: The Treasury Department’s Office of Foreign Assets Control said earlier Monday that Adani Enterprises, a part of the Adani Group, will pay $275 million to settle an investigation into alleged violations of Iran sanctions. The Securities and Exchange Commission said last week it had reached an agreement with Adani and his nephew, Sagar Adani, to settle related civil charges for a total of $18 million. The Adanis didn’t admit wrongdoing as part of either settlement.

The mysterious crypto judges who settle Polymarket disputes.

Polymarket, a prediction market, faces scrutiny over its arbitration system for resolving disputed bets, where holders of digital tokens vote to decide which side won.

In nearly 20% of disputes reviewed by The Wall Street Journal, accounts deciding the outcome were tied to bets in the very same market.

• The U.S. Securities and Exchange Commission said it won’t stop companies and executives that settle cases from denying they committed wrongdoing, Risk Journal reports, a reversal of the agency’s longstanding “gag rule.” (free link)
   
• NextEra Energy and Dominion Energy have agreed to combine in a blockbuster utilities deal. Now comes the hard part: a regulatory marathon.
   
• Lululemon Athletica is urging its shareholders to vote against the slate of directors nominated by founder Chip Wilson, saying he has outdated perspectives about how to position the athletic-apparel retailer for the future.
   
• The Environmental Protection Agency unveiled proposals that would end Biden-era limits for certain so-called forever chemicals in drinking water and allow utilities to seek a delay in meeting a deadline for reducing other such chemicals.
   
• Two senior Senate Democrats have demanded Treasury Secretary Scott Bessent immediately halt indirect purchases of cartel-linked gold by the U.S. Mint, reports Risk Journal, after a report found the U.S. government had spent hundreds of millions of dollars on gold tied to criminal organizations operating under U.S. sanctions in Colombia, Nicaragua and Venezuela. (free link)
   
• If securities regulators carry through on their plan to allow public companies to report earnings twice a year, rather than the current quarterly schedule, investors and their financial advisors will have less information on which to base their decisions. How much less, and how markets will respond, are among the major questions that can’t be answered until the proposal takes effect, but some advisors aren’t cheering the effort.
   
• The Trump administration created an extraordinary settlement fund with nearly $1.8 billion to compensate people who claim that the federal government weaponized the legal system against them, a move that could direct federal money to President Trump’s allies with minimal oversight. The Treasury Department’s top lawyer resigned Monday after the government announced the controversial settlement.

Trump says planned Iran attack on hold after Gulf leaders’ request.

President Trump said he would hold off on a planned U.S. attack on Iran at the request of Gulf leaders to make room for negotiations with Tehran over a prospective deal to end the war.

The president said the leaders of Qatar, Saudi Arabia and the United Arab Emirates asked him to hold off on the attack because “serious negotiations are now taking place.” A day earlier, he warned that the “clock is ticking” and that if Iran didn’t move on peace negotiations “there won’t be anything left of them.”

Trump’s post comes after weeks of stalled efforts to reach a deal to end the war since a fragile cease-fire was announced in April.

Swatch’s new watch debut descends into chaos.

Swatch’s latest chaotic product launch—replete with riot police and tear gas—shows that for buzz-seeking brands, manufactured virality can have its upsides—and its complications.

Swatch was forced to close stores on three continents over the weekend after fans and watch profiteers overwhelmed the debut of the manufacturer’s tie-up with luxury brand Audemars Piguet. When sales were meant to begin on Saturday, large crowds grew agitated when word spread there were limited quantities to sell.

• The world is making a run on U.S. energy, setting American motorists and foreign buyers on a collision course.
   
• U.S. forces killed an estimated 20 Islamic State militants in a hotly contested corner of Nigeria, days after an operation that killed the group’s No. 2, U.S. and Nigerian officials said Monday.
   
• Ukraine’s military has wrestled Russia’s much-larger army almost to a halt in recent months, having gained a tactical and technological edge.
   
• Major U.S. home builders face surging legal liabilities from increasing lawsuits over alleged construction defects.
   
• Amazon Web Services CEO Matt Garman spoke with The Wall Street Journal about how his company is approaching artificial intelligence, the challenges of getting it right and the race to stay ahead of rivals.
   
• The booming expedition-cruise business is grappling with fallout from the hantavirus outbreak.
   
• A person at SpaceX’s rocket complex in Texas died in a workplace accident Friday, according to local authorities.
   
• Unions representing Long Island Rail Road workers reached a deal with the Metropolitan Transportation Authority on Monday, the third day of a strike that halted the country’s busiest commuter railroad.

Mythos rewires the bug-bounty industry.

Software bug bounty hunters are squaring off against Anthropic’s Mythos and other emerging artificial-intelligence tools that have the ability to uncover thousands of cybersecurity flaws in digital systems in the same time it takes humans to spot just a handful.

Among other strategies, many are leveraging the supercharged tools in hopes of beating them at their own game. By pairing AI with their industry expertise, the bug hunters are targeting fewer, but higher-prized security flaws that promise a richer payday.

• Anthropic recently began letting users of its powerful artificial-intelligence model Mythos share cybersecurity threats with others who may face similar vulnerabilities, modifying its previous stance amid concerns that limiting access to the information could hurt smaller companies.