That is, during the Biden Administration, the DOJ took a very expansive position on antitrust by attempting to define “the market” very narrowly. A classic example of this approach was the Biden-era DOJ’s antitrust action against the credit card company, Visa, regarding its debit card business. Visa holds the largest market share in the U.S., with MasterCard, American Express, and Diners Club as the runners-up for the “front of the card” position. Are these debit networks one market or separate markets? The same is true for the energy market in the Devon/Coterra merger.

Source: Forbes March 02, 2026 18:19 UTC