Chicago Loses Olympics Bid — Badly.

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In a shocking turn of events, the IOC just voted Chicago out of contention to host the 2016 Olympics — on the first ballot. (Update: Rio won.) Meaning not only did Chicago not win, it was the least popular choice among the four finalist cities. The crowds assembled in Chicago are "dumbfounded," according to CNN, and seem to be in a state of stunned disbelief. The decision doesn't necessarily reflect anything on President Obama — there could be a million reasons the IOC didn't choose Chicago, including the fact that half of Chicago didn't want it — but because of his unprecedented involvement, his critics will happily opine on what this signifies about the power and influence of Obama in the coming days.

Earlier: The Obamas Make Their Final, Obama-esque Olympic Pitches