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Cryptocurrency coins, including the $Trump meme coin and bitcoin, seen in a photo illustration in Brussels, Belgium, on February 8, 2026.
(Photo by Jonathan Raa/NurPhoto via Getty Images)
‘Corruption Couldn’t Be More Obvious’: Trump Stacks Key Panel With Crypto and Gambling CEOs
"President Trump has given up on caring about protecting working class Americans and has given the keys to our economy to billionaire scammers."
Feb 13, 2026
Alarms are being raised amid reports that President Donald Trump is stacking a key regulatory committee with CEOs of online prediction markets, cryptocurrency firms, and sports betting apps.
As reported on Thursday by the right-wing Daily Wire, the Commodity Futures Trading Commission (CFTC) is launching a new initiative called the Innovation Advisory Committee, which CFTC Chairman Michael Selig said would be tasked with ensuring "the CFTC’s decisions reflect market realities so the agency can future-proof its markets and develop clear rules of the road for the Golden Age of American Financial Markets."
Among the members of the committee are Tarek Mansour, CEO of online betting market Kalshi; Brian Armstrong, CEO of cryptocurrency hub Coinbase; Christian Genetski, president of the FanDuel sports betting app; and Matt Kalish, president of sports betting app DraftKings North America.
Emily Peterson-Cassin, education fund policy director at Demand Progress, said the committee's composition has deeply concerning implications for the future of the US economy.
"The corruption couldn’t be more obvious," said Peterson-Cassin. "It’s hard to see the CTFC succeeding at its mission to prevent a repeat of the 2008 financial crisis when it is influenced from the inside by a rogues’ gallery of billionaire CEOs responsible for monetizing and gamifying virtually every aspect of everyday life."
Peterson-Cassin added that the latest move shows that "President Trump has given up on caring about protecting working class Americans and has given the keys to our economy to billionaire scammers.”
The creation of the Innovation Advisory Committee wasn't the only news made by CFTC this week, as Barron's reported on Monday that the commission's enforcement division based in Chicago has now been completely gutted, as its entire litigation team has either resigned or been laid off.
One laid-off former CFTC attorney told Barron's that the gutting of the office will make it much easier for financial scammers to rip off Americans.
"If I was a different person I would launch a crypto scam right now," said the attorney, "because there’s no cops on the beat."
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Alarms are being raised amid reports that President Donald Trump is stacking a key regulatory committee with CEOs of online prediction markets, cryptocurrency firms, and sports betting apps.
As reported on Thursday by the right-wing Daily Wire, the Commodity Futures Trading Commission (CFTC) is launching a new initiative called the Innovation Advisory Committee, which CFTC Chairman Michael Selig said would be tasked with ensuring "the CFTC’s decisions reflect market realities so the agency can future-proof its markets and develop clear rules of the road for the Golden Age of American Financial Markets."
Among the members of the committee are Tarek Mansour, CEO of online betting market Kalshi; Brian Armstrong, CEO of cryptocurrency hub Coinbase; Christian Genetski, president of the FanDuel sports betting app; and Matt Kalish, president of sports betting app DraftKings North America.
Emily Peterson-Cassin, education fund policy director at Demand Progress, said the committee's composition has deeply concerning implications for the future of the US economy.
"The corruption couldn’t be more obvious," said Peterson-Cassin. "It’s hard to see the CTFC succeeding at its mission to prevent a repeat of the 2008 financial crisis when it is influenced from the inside by a rogues’ gallery of billionaire CEOs responsible for monetizing and gamifying virtually every aspect of everyday life."
Peterson-Cassin added that the latest move shows that "President Trump has given up on caring about protecting working class Americans and has given the keys to our economy to billionaire scammers.”
The creation of the Innovation Advisory Committee wasn't the only news made by CFTC this week, as Barron's reported on Monday that the commission's enforcement division based in Chicago has now been completely gutted, as its entire litigation team has either resigned or been laid off.
One laid-off former CFTC attorney told Barron's that the gutting of the office will make it much easier for financial scammers to rip off Americans.
"If I was a different person I would launch a crypto scam right now," said the attorney, "because there’s no cops on the beat."
From Your Site Articles
- Trump Appoints Gambling CEOs to CTFC After Ousting Enforcement Lawyers ›
- Most of Trump's Net Worth Comes From 'Crypto Empire': Report ›
- How GOP's Crypto Bills Would Benefit Trump and His Family ›
- Trump Agency ‘Setting Stage for Another Financial Crisis’ With Attack on Prediction Market Regulations | Common Dreams ›
Related Articles Around the Web
Alarms are being raised amid reports that President Donald Trump is stacking a key regulatory committee with CEOs of online prediction markets, cryptocurrency firms, and sports betting apps.
As reported on Thursday by the right-wing Daily Wire, the Commodity Futures Trading Commission (CFTC) is launching a new initiative called the Innovation Advisory Committee, which CFTC Chairman Michael Selig said would be tasked with ensuring "the CFTC’s decisions reflect market realities so the agency can future-proof its markets and develop clear rules of the road for the Golden Age of American Financial Markets."
Among the members of the committee are Tarek Mansour, CEO of online betting market Kalshi; Brian Armstrong, CEO of cryptocurrency hub Coinbase; Christian Genetski, president of the FanDuel sports betting app; and Matt Kalish, president of sports betting app DraftKings North America.
Emily Peterson-Cassin, education fund policy director at Demand Progress, said the committee's composition has deeply concerning implications for the future of the US economy.
"The corruption couldn’t be more obvious," said Peterson-Cassin. "It’s hard to see the CTFC succeeding at its mission to prevent a repeat of the 2008 financial crisis when it is influenced from the inside by a rogues’ gallery of billionaire CEOs responsible for monetizing and gamifying virtually every aspect of everyday life."
Peterson-Cassin added that the latest move shows that "President Trump has given up on caring about protecting working class Americans and has given the keys to our economy to billionaire scammers.”
The creation of the Innovation Advisory Committee wasn't the only news made by CFTC this week, as Barron's reported on Monday that the commission's enforcement division based in Chicago has now been completely gutted, as its entire litigation team has either resigned or been laid off.
One laid-off former CFTC attorney told Barron's that the gutting of the office will make it much easier for financial scammers to rip off Americans.
"If I was a different person I would launch a crypto scam right now," said the attorney, "because there’s no cops on the beat."
From Your Site Articles
- Trump Appoints Gambling CEOs to CTFC After Ousting Enforcement Lawyers ›
- Most of Trump's Net Worth Comes From 'Crypto Empire': Report ›
- How GOP's Crypto Bills Would Benefit Trump and His Family ›
- Trump Agency ‘Setting Stage for Another Financial Crisis’ With Attack on Prediction Market Regulations | Common Dreams ›
Related Articles Around the Web
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