Trump Family Faces Damning New Grift Revelations
Yahoo News UK • • business
Key Points:
- The Commodity Futures Trading Commission (CFTC), responsible for regulating online betting and crypto markets, is significantly scaling back enforcement efforts amid growing ties between the Trump family and these industries.
- Donald Trump Jr. is an investor and adviser to prediction market firms Polymarket and Kalshi, with the Trump family's media company partnering with Crypto.com on a prediction market venture.
- The CFTC is currently led by a single commissioner, Michael S. Selig, appointed by Trump, who has left other board seats vacant, consolidating power and weakening internal oversight.
- Since Trump’s return to the White House, the CFTC has drastically reduced cases against major crypto and prediction market companies, pushed out senior enforcement officials, and abandoned several investigations into crypto firms.
- Former and current CFTC staff report political interference benefiting companies linked to the Trump family, including efforts to suppress enforcement actions and investigations into firms like Crypto.com and Polymarket.