The Enhanced Games fizzled out as a sporting sensation and a financial disaster, breaking just one swimming record while hemorrhaging nearly $62 million—despite being backed by a billion-dollar IPO. The company, which sells FDA-approved performance drugs via telehealth, is pivoting to a cheaper online series called Enhanced Breakers to keep the spotlight on performance medicine. Meanwhile, the broader industry is booming, fueled by FDA reclassifications that are loosening regulations around peptides and other substances.

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