Good Morning! Today’s edition is 929 words, a 4-minute read.

What’s on tap: 

• DHS shutdown

• Chloe Kim wins silver

• Most educated states

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Big Stories

SAVE America Act

• The Republican-controlled House passed President Trump's SAVE America Act 218-213, with only one Democrat voting yes. The bill requires voters to provide documentary proof of citizenship in person, such as a passport or birth certificate, when registering for federal elections. It also mandates photo ID for in-person voting and ID copies for mail-in ballots.

• The legislation faces a daunting Senate path. Republican Senators Lisa Murkowski and Susan Collins oppose the bill, with Murkowski noting Republicans fought federal election mandates in 2021 but are now proposing them. With Republicans holding 53 seats and some GOP senators opposed, the bill cannot reach 60 votes to break a filibuster.

• Democrats say the bill is designed to disenfranchise voters, claiming voting by noncitizens is already illegal and rare. Republicans argue voter ID requirements are broadly popular.

North Korea Succession

• South Korean intelligence officials told lawmakers Thursday that Kim Jong Un's teenage daughter is close to being designated as North Korea's future leader, extending the family dynasty to a fourth generation.

• Kim Ju Ae, believed to be about 13 years old, first appeared publicly at a missile test in November 2022 and has since attended military parades, weapons tests, and factory openings with her father. She traveled with him to Beijing in September for a summit with Chinese President Xi Jinping and visited the family mausoleum on New Year's Day, considered the clearest sign of her succession position.

• North Korea's Workers' Party Congress later this month could formalize her succession, though party rules require members to be at least 18. She would be the first female leader in North Korea's traditionally male-dominated system.

DHS Shutdown Looms

• The Department of Homeland Security is headed for a partial shutdown early Saturday after Democrats blocked a funding bill Thursday, demanding legislation to rein in immigration enforcement following the fatal shootings of two US citizens by ICE agents in Minneapolis. The Senate vote was 52-47, short of the 60 needed to advance.

• The shutdown will affect the TSA, FEMA, Coast Guard, and other agencies beyond immigration enforcement. Senate Minority Leader Chuck Schumer said Democrats will not support the "status quo" and that immigration abuses "cannot be solved merely through executive fiat alone." Republicans attempted to pass a two-week stopgap, but Democrats blocked it.

• Meanwhile, border czar Tom Homan announced Thursday that ICE would end its Minneapolis crackdown, Operation Metro Surge, which deployed 3,000 agents and resulted in 4,000 arrests since November. But Democrats said ending the operation is insufficient without legislation. Both chambers adjourned for recess despite the looming shutdown.

Someone just spent $236,000,000 on a painting. Here’s why it matters for your wallet.

The WSJ just reported the highest price ever paid for modern art at auction.

While equities, gold, bitcoin hover near highs, the art market is showing signs of early recovery after one of the longest downturns since the 1990s.

Here’s where it gets interesting→

Each investing environment is unique, but after the dot com crash, contemporary and post-war art grew ~24% a year for a decade, and after 2008, it grew ~11% annually for 12 years.*

Overall, the segment has outpaced the S&P by 15 percent with near-zero correlation from 1995 to 2025.

Now, Masterworks lets you invest in shares of artworks featuring legends like Banksy, Basquiat, and Picasso. Since 2019, investors have deployed $1.25 billion across 500+ artworks.

Masterworks has sold 25 works with net annualized returns like 14.6%, 17.6%, and 17.8%.

Shares can sell quickly, but my subscribers skip the waitlist:

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_{*Per Masterworks data. Investing involves risk. Past performance not indicative of future returns. Important Reg A disclosures: masterworks.com/cd}

Quick Stories

US News

• Two US Navy ships collided during refueling in South America, injuring two sailors with minor injuries. Both the warships remain operational and continue sailing. (More)

• The Trump administration ended greenhouse gas emission standards for all vehicles made since 2012, revoking the 2009 Endangerment Finding. (More)

• A judge blocked the Pentagon from punishing Senator Mark Kelly, ruling it violated the retired Navy officer's free speech and threatened constitutional rights of millions of military retirees. (More)

World

• Mexico sent two Navy ships with food and supplies to Cuba as a U.S. oil blockade deepens the island's energy crisis. (More)

• Two Israelis were charged with using classified military information to bet on Polymarket about Israeli operations. (More)

• Russia blocked WhatsApp, cutting off 100 million users. The Kremlin says the app refused to store user data and messages for government monitoring as Russian law requires. (More)

Business & Economy

• US stock markets closed lower on Thursday (S&P -1.57%, Nasdaq -2.03%, Dow -1.34%). (More) Stocks as investors weighed AI’s risks, including industry disruption and potential job losses.

• Pinterest shares plunged 19% after the company missed earnings and gave weak sales guidance. It's the second quarter in a row Pinterest lost a fifth of its value. (More)

• Home sales fell 8.4% in January to the slowest pace since 2023. The National Realtors Association calls it a "new housing crisis" as high prices and low supply keep Americans stuck. (More)

Sports & Entertainment

• A Mississippi judge granted Ole Miss quarterback Trinidad Chambliss a sixth year of eligibility, ruling the NCAA ignored medical evidence when denying his waiver. (More)

• Thunder guard Nikola Topić made his NBA debut Thursday after beating cancer. The 12th overall pick in 2024 missed his rookie season due to cancer treatment and a torn ACL. (More)

• Chloe Kim lost her Olympic halfpipe crown to 17-year-old Gaon Choi, who rallied from two brutal falls to win gold. Kim fell on her final run attempting a historic third straight title, but still took silver. (More) | Ukrainian skeleton athlete Vladyslav Heraskevych was disqualified from the Olympics for wearing a "helmet of remembrance" honoring Ukrainians killed in the war with Russia. (More)

Science, Health, & Tech

• Scientists found elephant whiskers transition from stiff bases to soft tips, helping them pinpoint touch despite thick skin. This gives elephants the dexterity to pick up peanuts without crushing them. (More)

• Aurora's self-driving trucks now complete 1,000-mile trips nonstop, beating human drivers who must take federally mandated breaks. (More)

• Researchers boosted a protein in aging mouse brains that restored their ability to make new neurons. The early finding could eventually help treat age-related cognitive decline in people. (More)

Extra Credit

Ranking the most educated states in America.

Fugitive arrested while trying to watch his country compete at the Olympics.

Why wood-burning fireplaces are facing extinction.

Media orders pizza delivery to a crime scene.