Matt Levine’s Money Stuff: Ackman Has a Trade for Eric Adams

Election betting

If you went to a candidate in a US election, and you said to him “I will pay you $1 million to drop out of this race so that my preferred candidate can win,” would that be legal? It sure seems illegal, but (1) nothing in this column is legal advice and (2) in US politics these days, people casually do a lot of stuff that they wouldn’t have even considered doing a few years ago, so who knows. Here’s a 2016 Bloomberg Opinion column by Stephen Carter arguing that it is illegal to pay a candidate to drop out ...