States Are Stepping Up as the New Antitrust Enforcers

The rapid increase in state antitrust lawsuits has frustrated business executives, who say merger approval by 50 states and two federal agencies isn’t efficient. Uncertainty over whether and when states will intervene is acting as an invisible tax on dealmaking and a drag on the U.S. economy, said Jon Orszag, who is a founding partner of Econic Partners, an economics consulting firm, and has advised on deals worth roughly $500 billion since early 2025.

Other corners of America’s antitrust community have applauded the uptick in state action. “Each episode of apparent manipulation by lobbyists is an opportunity for the states to stand tall and say we’re the last guardians of what is good about America’s antitrust system,” said William Kovacic, a former chair of the Federal Trade Commission.

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Article source: https://www.nytimes.com/2026/10/17/business/dealbook/state-antitrust-enforcement.html