Tech Report: FTC investigates Instacart pricing as shares slide

Shares of grocery delivery service Instacart fell about seven percent in extended trading Wednesday.

(LILAMAX)- Shares of grocery delivery service Instacart fell about seven percent in extended trading Wednesday after a report said the U.S. Federal Trade Commission has opened an investigation into the company’s pricing practices.

Reuters reports the FTC has sent Instacart a civil investigative demand as part of the probe. The move comes after a recent study found prices for identical products at the same supermarkets can vary by roughly seven percent when purchased through Instacart, potentially adding more than $1,000 a year in extra costs for customers. Instacart responded by saying retailers, not the company, set the prices listed on its app.

Meanwhile, prediction markets could grow into a trillion-dollar industry by the end of the decade, according to consulting firm Eilers & Krejcik. Sports betting is driving much of that growth and is expected to account for 44 percent of trading volume as prediction markets mature. These platforms allow users to wager on outcomes tied to sports, politics, culture, and other real-world events.

Some gamers may soon see money coming their way. DirectToU and Alliance Entertainment have agreed to a $1.57 million class-action settlement after allegations the companies shared consumer information with third parties without consent. Consumers who purchased videos or video games, or signed up for notifications from DirectToU between August 8, 2022, and September 22, 2025, may be eligible for a payout. Estimated payments range from $60 to $145, though eligible customers must file a claim.

In entertainment news, the Academy of Motion Picture Arts and Sciences has signed a multiyear deal with Google-owned YouTube to stream the Oscars globally beginning in 2029. The Academy currently partners with Disney for domestic and international broadcasts related to the awards ceremony.