Conspiracy Theories Newsletter, 2026 Edition

Partners Tiffany Rider, James W. Attridge, Daniel K. Oakes, Jacklin Chou Lem, and Mary Helen Wimberly co-authored the 2026 edition of Axinn’s Conspiracy Theories newsletter, which examines the direction of criminal antitrust enforcement under the Trump Administration.

Now a year in, the Trump 2.0 commitment to continued and aggressive criminal antitrust enforcement is bearing fruit, bolstered by a “frenzy” of tips from the newly established whistleblower rewards program. The Antitrust Division initiated 100 new investigations in 2025 and filed 24% more cases in 2025 compared to 2024. Ongoing investigations and litigation continue to focus on procurement, consumer-facing markets, and labor markets, while exploring novel theories of harm involving the use of AI and environmental, social, and governance efforts. Even states are dusting off criminal authority with increasing frequency, and the DOJ continues to emphasize the need to invest in and update compliance efforts, or risk the possibility of criminal investigation, prosecution, and “significant prison sentences” for culpable executives.

The newsletter offers predictions and practical insights into what businesses should anticipate from the DOJ’s Antitrust Division in the year ahead.

Special thanks to associates Tasneem Chowdhury, Chandler Gordon, Aigerim Saudabayeva, and Duncan Weals for their valuable contributions.

Click here to read the newsletter.