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Trump Appoints Gambling CEOs to CTFC After Ousting Enforcement Lawyers
Coinbase, Polymarket, Kalshi, DraftKings, Robinhood CEOs Appointed to CFTC Committee After Flagship Enforcement Office is Gutted
On Tuesday, The Daily Wire reported that President Donald Trump has established an advisory commission at the Commodities Futures Trading Commission filled with gambling, prediction market and crypto CEOs. Also, as of this week, the CFTC’s flagship enforcement office in Chicago now has no enforcement attorneys, with one of the ousted attorneys warning that “if I was a different person, I would launch a crypto scam right now, because there’s no cops on the beat.”
The following is a statement from Demand Progress Education Fund Policy Director Emily Peterson-Cassin:
“The Trump administration hollowed out the CFTC’s flagship law enforcement office and then let in the CEOs of companies that openly encourage insider trading, scams and gambling. The corruption couldn’t be more obvious. 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. As we saw with the FTC and now CFTC, President Trump has given up on caring about protecting working class Americans and has given the keys to our economy to billionaire scammers.”
Demand Progress amplifies the voice of the people -- and wields it to make government accountable and contest concentrated corporate power. Our mission is to protect the democratic character of the internet -- and wield it to contest concentrated corporate power and hold government accountable.
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‘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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Congressional Report Warns TrumpRx May Lead 'Families to Pay More to Big Pharma'
"The president should work with Democrats and Republicans to actually lower prescription drug costs for families," said Sen. Maggie Hassan, "rather than helping Big Pharma line its pockets."
Feb 13, 2026
Democratic members of the congressional Joint Economic Committee on Friday released a report warning that US families could end up spending thousands of dollars more on prescription drugs because of a website recently unveiled by President Donald Trump.
Launched last week with pharmaceutical companies, TrumpRx.gov is marketed as an aggregator to help patients save on prescription drugs by using manufacturer coupons or buying directly from manufacturers.
However, as the new report highlights, "many of the brand-name drugs listed on TrumpRx have significantly cheaper generic alternatives, which are excluded from TrumpRx. This means that TrumpRx steers families to pay more to Big Pharma when they could be getting the same medication at a much lower price."
"No matter what the president says, the bottom line is that TrumpRx directs families to buy expensive brand-name drugs when generic versions are available elsewhere at a fraction of the cost."
The report provides a chart comparing TrumpRx and generic prices, both for one prescription fill and the full annual cost. It also notes the difference. In some cases, the president's option is $10-50 more a year. However, there are also examples in which families could save hundreds or thousands of dollars with generic drugs.
For example, Colestid, a medication that lowers cholesterol, would cost $2,771.21 a year through TrumpRx, compared with $856.70 for the generic option, a difference of $1,914.51. The antidepressant Pristiq is $2,401.20 on the president's website, versus just $320.88 for the generic, a potential yearly savings of $2,080.32.
The biggest difference featured in the document is for Tikosyn, which helps patients maintain a normal heart rhythm. The TrumpRx annual cost is $4,032, whereas the generic is only $192.68, a difference of $3,839.32.
The report also stresses how extra costs from the president's site could stack up for households in which multiple people need medication:
- For example, if in one family a parent gets treatment for high cholesterol and their child gets treated for seizures, over the course of 2026 this family would pay $2,142 more if they use TrumpRx versus generic drug alternatives.
- For another family where one adult gets treatment for depression while the other receives treatment for menopause symptoms, over the course of 2026 this family would pay $2,493 more if they use TrumpRx versus generic drug alternatives.
"No matter what the president says, the bottom line is that TrumpRx directs families to buy expensive brand-name drugs when generic versions are available elsewhere at a fraction of the cost," said Sen. Maggie Hassan (D-NH), ranking member of the Joint Economic Committee and the Senate Finance Subcommittee on Health Care.
"The president should work with Democrats and Republicans to actually lower prescription drug costs for families," Hassan argued, "rather than helping Big Pharma line its pockets."
While the Trump White House responded defensively to the Democratic report, with spokesperson Kush Desai claiming to MS NOW that "product listings on TrumpRx.gov are in no way an endorsement for use of any prescription drug over another" and accusing Democrats of "resorting to idiotic or simply ignorant lines of attack instead of simply giving the president credit where it's due," the panel members aren't alone is highlighting such cost differences.
The added cost for US families also isn't lawmakers' only concern about TrumpRx. Last month, shortly before the site's launch, Democratic Sens. Dick Durbin (Ill.) Elizabeth Warren (Mass.), and Peter Welch (Vt.) sent a letter to the US Department of Health and Human Services Office of Inspector General raising concerns about the new direct-to-consumer (DTC) platform.
"There appear to be possible conflicts of interest involved in the potential relationship between TrumpRx and an online dispensing company, BlinkRx, on whose board the president's son, Donald Trump Jr., has sat since February 2025," they wrote. "Moreover, legitimate concerns about inappropriate prescribing, conflicts of interest, and inadequate care have been raised about the exact types of DTC platforms to which TrumpRx would route patients."
The trio also expressed alarm about high prices, noting that "pharmaceutical manufacturers who will reportedly be participating in TrumpRx have spent billions of dollars in combined advertising expenses for drugs sold on existing DTC platforms."
"The pharmaceutical industry's outrageous DTC advertisements fuel demand for specific medications, which balloon healthcare expenses," the senators wrote. "We are concerned that DTC advertising, including in relation to TrumpRx, will steer customers to prescriptions that may be reimbursed by federal health programs, creating the potential for unnecessary or wasteful spending."
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Trump Has Spent $40 Million in Secretive Deals Deporting Hundreds of People to Third Countries
“Through its third country deportation deals, the Trump administration is putting millions of taxpayer dollars into the hands of foreign governments, while turning a blind eye to the human costs," reads a new Senate report.
Feb 13, 2026
Using secretive agreements, often with countries that have histories of human rights abuses, the Trump administration has "expanded and institutionalized" a system in which the government deports migrants to nations where they have never lived, according to a report released Friday by Democrats on the US Senate Foreign Relations Committee.
The report, titled At What Cost? Inside the Trump Administration’s Secret Deportation Deals, was commissioned by Sen. Jeanne Shaheen (D-NH) and is the first comprehensive review of the administration's coercive and secretive agreements with countries including El Salvador, Equatorial Guinea, and Eswatini.
Third-country deportations were "previously a rare tool used only in exceptional circumstances," said the authors, but "the Trump administration has broadened this practice into a sprawling system of global removals," sending direct financial payments of $32 million in taxpayer money to foreign governments.
Five countries, which also include Palau and Rwanda, entered into those deals and have taken 300 people. In all, the administration has spent more than $40 million on the deportations, according to the report.
“This report outlines the troubling practice by the Trump administration of deporting individuals to third countries—places where these people have no connection—at great expense to the American taxpayer and raises serious questions,” said Shaheen, the ranking member of the committee. “Through its third country deportation deals, the Trump administration is putting millions of taxpayer dollars into the hands of foreign governments... For an administration that claims to be reigning in fraud, waste, and abuse, this policy is the epitome of all three.”
The senators conducted a 10-month review of the administration's agreements and third country deportations through January 2026, with staff traveling to the countries and meeting with people who have been deported, attorneys, US and foreign officials, and human rights organizations.
The agreements, said the senators, amount to an "expensive and dangerous form of shadow diplomacy that prioritizes the appearance of toughness over the security of Americans" and includes little oversight over whether public funds are being used to finance human trafficking or rights abuses.
While the agreements include "blanket language" on upholding international human rights laws, the report states, the senators' extensive review uncovered no evidence that the administration is conducting systemic monitoring or follow-up enforcement, "raising serious concerns that the assurances made by foreign governments exist only on paper and that the United States is turning a blind eye to what happens to migrants in third countries."
Cart Weiland, a deputy assistant secretary at the US State Department, was questioned by the Senate Foreign Relations Committee about his work helping to establish the third country agreements and "could not articulate whether any oversight on their treatment had been conducted. Instead, he reiterated that 'the agreement has a provision that explicitly mandates adherence to international human rights treaties and conventions.'"
Committee staff members also heard from US officials in one country that they had been instructed "not to follow up on the treatment of deportees."
A Trump administration attorney even acknowledged in a federal court case regarding deportations to Ghana, another country that has entered into agreements with the administration, that it appeared "Ghana was violating assurances it had provided the United States, including that it would comply with the Convention Against Torture, after sending a migrant onward to a country where they would likely be tortured."
The senators also found that the administration is likely using third countries to circumvent US immigration law—carrying out removals "that US law would otherwise prohibit, such as sending protected individuals onward to countries where they may face persecution or death."
The majority of migrants flown to third countries have had court-ordered protections prohibiting the US from sending them back to their home countries, where they could face persecution or torture.
"One migrant with protective orders stated: 'While at the fuel stop in the US Virgin Islands, the apparent head [US Immigration and Customs Enforcement] official on the plane... told me that those on the plane were being sent to Ghana and that Ghana would send us to our home countries," according to the report.
The document said that "the Trump administration’s defense is that the United States 'does not have the power to tell Ghana what to do,'" a claim it also made after garnering condemnation for its use of the Alien Enemies Act to deport about 250 Venezuelan migrants to El Salvador, where they were imprisoned in the notorious Terrorism Confinement Center (CECOT).
The report also details how the administration has threatened some countries with increased tariffs, travel bans, or cuts to US foreign aid if they don't enter into the deals.
"The Trump administration is expending political capital in its bilateral relationships that could instead be used to advance more pressing USb national security interests, while not being transparent about the full extent of its deal-making, including what is being offered to foreign governments," reads the report.
The senators emphasized that they released their report "as the administration is aggressively seeking to strip hundreds of thousands of migrants of legal status in the United States through the ending of temporary protected status and humanitarian parole, among other avenues, increasing the risk of expanded third country deportations."
The Democrats on the committee said they would continue to conduct oversight of the agreements and demand transparency.
"The Trump administration should cease its use of these third country deportation deals," they said, "which are putting millions of taxpayer dollars into the hands of foreign governments without oversight while turning a blind eye to the potential human cost."
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