CFTC Officials Who Flagged Trump-Linked Firms Suspended

Senior officials at the Commodity Futures Trading Commission who raised compliance concerns about prediction-market platforms tied to the Trump family were placed on administrative leave, opened to internal investigations and later pushed out, internal records and interviews show.

Staff raised specific problems at three firms: Polymarket, Crypto.com and a Gemini affiliate. Records say Polymarket lacked adequate fraud protections, Crypto.com did not treat small bettors fairly, and the Gemini affiliate began operating before completing a required regulatory review.

The documents link the firms to members of the Trump family. Polymarket received investment from a venture firm backed by Donald Trump Jr.; Crypto.com is a business partner of Trump Media; and founders connected to Gemini backed a crypto company co-founded by Eric Trump.

By late 2025, two officials who flagged concerns were on administrative leave and subject to internal probes. Three other staff who had enforced crypto rules faced similar disciplinary actions. Agency records indicate the employees were not told which rules they had violated.

Acting leadership at the commission intervened while the compliance issues were active, helping the firms secure approvals and favorable outcomes, according to people familiar with the matter. The acting chair later joined MoonPay, and a senior counsel moved to become general counsel at the Gemini affiliate whose application she had helped clear.

Internal data and staff accounts show the commission reduced its crypto enforcement work. The agency dropped at least five crypto investigations and formal enforcement filings fell from more than 80 under the prior leadership to two under the current one. Recent cases targeted individual operators rather than major firms.

Separately, the commission has filed lawsuits challenging state regulators’ actions involving prediction-market platforms in Wisconsin, Minnesota, New York, Arizona, Connecticut and Illinois. Agency officials say they seek clarity on their jurisdiction as online event contracts operate across state lines.

The House Agriculture Committee asked the president to nominate four commissioners to fill vacancies, saying the commission is unable to handle its responsibilities with only one commissioner in place.

One former staffer summarized the workplace effect bluntly: ‘Don’t cause trouble for those industries.’ A White House spokesman issued a statement that the president ‘only acts in the best interests of the American public’ and that there are no conflicts of interest.