Donald Trump has spent the primary season throwing around his political weight by endorsing candidates all over the United States. John Hudak writes that the midterm elections will serve as a true test of the former president’s power, and the outcomes will determine his future strength in the party.

Stablecoins could produce important benefits and valuable competition in the payments industry, but current U.S. regulation of stablecoin issuers is woefully inadequate. Howell Jackson, Timothy Massad, and Dan Awrey propose a way to use an existing regulatory framework to protect consumers.