Trump clears path for industry cronies to 'mow down' staff at key watchdog agency: report

Source: Raw Story

May 24, 2026 8:07PM ET


A Sunday report in The New York Times revealed how the Trump administration is using a key government agency to shut down any efforts to regulate online betting markets such as Kalshi and Polymarket. According to the Times, the administration has stacked the Commodity Futures Trading Commission (CFTC) with industry insiders who have systematically “mowed down” staffers at the agency who have expressed interest in providing oversight on prediction markets.

Among other things, the report documented how multiple officials at CFTC have been put on leave simply for asking questions about the betting markets’ ties to members of President Donald Trump’s family or for having past experience enforcing regulations related to cryptocurrencies.

What’s more, the Times found that even being an industry insider isn’t enough to guarantee good standing in the agency. Brian Quintenz, who was tapped by Trump to lead CFTC last year, saw his nomination withdrawn after he drew the ire of Cameron and Tyler Winklevoss for refusing to support their cryptocurrency exchange’s complaint against the agency.

Revelations about industry insiders rolling over regulators at CFTC come as the Trump administration is fighting any attempts by states to regulate prediction markets.

Read more: https://www.rawstory.com/trump-2676937095/