Friday’s SpaceX IPO will be a defining moment not only for capital markets but also for the booming space industry and Elon Musk’s broader industrial empire, which has catapulted America to the lead in the space race against Communist China and Russia.
Ahead of the four-times-oversubscribed SpaceX IPO, we explained to readers how to profit from the incoming data center boom in low-Earth orbit and broke down the mechanics of the IPO in an easy-to-understand format.
Next, we want to give readers the opportunity to understand where the space industry is headed to position bullish bets, as this industry will likely have tailwinds for years to come. It's all about following the money.
We are leaning on Jefferies analyst Aniket Shah’s Wednesday report, which provided a roadmap for understanding the space industry through five easy takeaways.
1. The global space economy has reached $600bn, potentially tripling to $1.8trn by 2035. Commercial activity accounts for 80% and spans satellite TV, broadband, GPS infrastructure, and satellite manufacturing. The remaining 20% is government spending. Within the investable "backbone" of physical infrastructure, state-sponsored spending is projected to grow faster than commercial, rising from $125bn to $320bn (+256%) vs $205bn to $435bn (+212%) for commercial over the next decade. Defense is the fastest-growing category within the space economy.
2. The US accounts for 60% of global government spending on space; China ranks second. US government space spending is ~$80bn, more than the rest of the world combined. China spends ~ $20bn, but this figure is not PPP-adjusted, meaning its effective spending power is materially closer to the US than the nominal gap implies. Japan is a notable third player, having designated space as one of Prime Minister Takeshi's 17 strategic sectors (see here & here). China has similarly identified space as a strategic area in its 15th Five-Year Plan (see here & here).
3. Space Force budget surged 40% in one year, fueled by the Golden Dome program. Golden Dome is a top strategic priority driving the budget surge. Golden Dome is a multi-layered missile defense initiative that integrates space-based sensors, interceptors, and AI-enabled command and control to address ballistic, hypersonic, and cruise missile threats. Space Force now commands ~$40bn and the Missile Defense Agency ~$10bn, totaling ~$50bn, far exceeding NASA's budget ($24.4bn).
4. SpaceX has captured a structural share of federal space dollars. It is NASA's largest commercial contractor and plays a critical role across launch services, communications, IT, and the broader data layer of the space architecture. The US government has effectively outsourced significant space activity to SpaceX, creating an inextricable linkage between federal spending priorities and the company's business.
5. US vs China: Moon Race 2.0 is accelerating. The rivalry plays out across three dimensions: lunar programs, global coalitions, and codified policies.
Now, let's visualize where the space industry is headed into the 2030s:
The global space economy has reached $600bn
The space economy is set to triple to $1.8trn by 2035
The US accounts for 60% of global space spending
National defense is reshaping the US space economy
Space Force budget surges 40%, fueled by Golden Dome
SpaceX has captured a structural share of federal space dollars
US vs China: Moon Race 2.0 is accelerating
Professional subscribers can read more on the space industry here at our new Marketdesk.ai portal.
Tyler Durden Thu, 06/11/2026 - 10:40Authored by Darlene McCormick Sanchez via The Epoch Times,
ActBlue CEO Regina Wallace-Jones invoked the Fifth Amendment on Wednesday before the House Administration Committee, surrounding reports that she may have misled Congress about how the platform vets foreign donations.
The U.S. Capitol building on June 9, 2026. Madalina Kilroy/The Epoch TimesWallace-Jones had originally agreed to testify voluntarily before Congress concerning ActBlue's vetting process for foreign contributions to domestic candidates. But her attorneys requested a congressional subpoena on Monday, ahead of her June 10 testimony, according to committee lawmakers.
The House asked Wallace-Jones to testify after a recent New York Times report included memos from Covington & Burling, a law firm that worked for ActBlue, warning that she may have misled Congress about the process for screening overseas donations.
ActBlue is the dominant Democratic fundraising platform. In 2025 alone, the platform reported raising almost $1.8 billion from 52 million contributions, and Q4 that year marked the single-largest off-cycle quarter in ActBlue history.
Under federal election law, foreign nationals or those who are not permanent residents are forbidden to donate directly to federal candidates or political action committees.
Administration Committee Chairman Bryan Steil (R-Wis.) said only Americans should decide their elections during the hearing titled, "Preventing Fraudulent Donations: Transparency, Verification, and Accountability."
🚨 HOLY SMOKES. ActBlue just PLED THE 5TH and REFUSED to answer about getting foreign donations infiltrating US politics on behalf of Democrats
She wouldn't even refute getting RUSSIAN money! 🤯
ActBlue is a FRAUD group. Shut it down!
REP. JIM JORDAN: Your board chairman said… pic.twitter.com/iYfda3A6so
"Ms. Wallace-Jones is here today because there's a significant concern that ActBlue may have allowed foreign donations on their platform, lied to Congress, and withheld responsive documents from a congressional subpoena," Steil said. "All three of those actions are illegal."
Steil said Wallace-Jones provided a 2023 letter to Congress stating that ActBlue prevents foreign donations by requiring donors with a foreign address to provide U.S. passport information. If a contribution appears to be from a foreign address, ActBlue contacts the donor to request U.S. passport information. The platform would then refund the contribution if ActBlue was unable to contact the donor.
"The New York Times reported that ActBlue's outside counsel determined those three steps are not always followed," Steil said.
Surrounded by attorneys, Wallace-Jones did not answer any questions posed during the hearing, citing the "attorney-client privilege and my Fifth Amendment rights under the Constitution."
Wallace-Jones wrote an opinion piece in The Washington Post that appeared on the day of her hearing, saying she would invoke her Fifth Amendment "rights against self-incrimination."
"This is a proceeding designed to build an illegitimate criminal case against us. I cannot and will not let my words be misused in that way," she opined.
Democrats on the committee called the hearing political theater and questioned why the Republican fundraising platform, WinRed, wasn't receiving equal scrutiny from Republicans.
"We're here because Republicans want to talk about ActBlue, not because they're serious about strengthening campaign finance laws or actually strengthening the abuse of fraud in this country," said Rep. Robert Garcia (D-Calif.), ranking member of the Oversight and Government Reform Committee.
Administrative Committee ranking member Joe Morelle (D-N.Y.) said Republicans are ignoring alleged problems with WinRed. He accused the platform of victimizing elderly Americans.
Morelle also requested a subpoena for Republican Texas Senate candidate Ken Paxton, who, as Texas attorney general, sued ActBlue in state court on April 20. The lawsuit alleged that the platform misleads consumers by illegally accepting fraudulent foreign donations for federal and state candidates.
ActBlue filed a countersuit on May 1 in the U.S. District Court for the District of Massachusetts, seeking to block Paxton's lawsuit. Attorneys for the platform asked a federal judge to declare Paxton's ongoing ActBlue investigation and lawsuit unconstitutional, alleging violations of the First and Fourteenth Amendments.
ActBlue accused Paxton of escalating his investigation after donations for James Talarico, his Democratic opponent in the Texas Senate race, surged.
Paxton responded on the day the suit was filed, saying in an X post that ActBlue was "trying to take [him] down."
U.S. Rep. Bryan Steil (R-Wis.) speaks at a hearing with the House Administration subcommittee on Elections in Washington on June 24, 2021. Anna Moneymaker/Getty Images Tyler Durden Thu, 06/11/2026 - 10:20US Treasury Secretary Bessent announced on X Thursday morning that Washington is moving forward on a plan to compensate America's Gulf regional allies for damage sustained during Iranian counterattacks on their energy and civic infrastructure.
He made clear that any damage to Gulf allies would be paid for with frozen Iranian funds, which Tehran leadership has long blasted as blatant theft.
According to Bessent's latest announcement: "The Iranian regime will lose the zero-sum game it is playing." The Treasury Secretary listed out the following new policy and plan:
Interestingly, there is implicit here a possible acknowledgement that US forces won't be able to immediately be able to stop Iran from enacting its toll collection protocol, which it has hinted is being done in coordination - or at least with an 'understanding' - from Oman, which itself has come under pressure from the Trump administration of late.
Over eighty oil, gas, and vital infrastructure facilities across the Gulf have been hit - with most of the attacks having occurred in March and April - with one recent report estimating up to $58 billion in damage. Iran has sought to justify these attacks as 'retaliation' for these Gulf countries hosting American bases during the US unprovoked assault on the Islamic Republic.
An unnamed US official had previously told ABC's Senior White House correspondent Selina Wang last weekend: "Treasury will utilize all tools available to allow Iranian assets to be made available to our Gulf allies to support rebuilding and repairs for any future damage caused by Iran."
"The Secretary has also directed his team to assess conditions amongst our Gulf allies and request comprehensive estimates of the costs associated with repairing damage Iran has inflicted since the start of the conflict," the source had added.
Also as part of that earlier reporting, it was revealed:
The Iranian assets could include frozen assets and ships the U.S. has seized. The administration is reaching out to Gulf allies right now and asking for their evaluation.
This is only likely to further derail efforts to get Tehran and Washington back to the negotiating table. Already the US has balked at Iran's own insistent it be given reparations for damage done.
Iran is meanwhile still demanding that its billions in funds long frozen by Washington be given back as part of a deal. The Trump administration has so far rejected this, at least in terms of its public-facing position.
Tyler Durden Thu, 06/11/2026 - 10:00