Yet, a mere four days into his second term, Trump gave notice that he intended to boost whatever deep state already existed, when he
dismissed 17 inspectors general, including those for the
Department of Defense, the State Department, and the Department of Housing and
Urban Development. Eight of these officials sued to challenge their dismissal,
leading to a Sept. 24 U.S. district court ruling that the dismissals violated
the 1978 Inspector General Act because they did not involve a 30-day notice to
Congress. The court did not reinstate the officials, stating that Trump could
dismiss them again after providing appropriate notice to Congress.
For what it's worth, the Senate as of February 11, 2026 had confirmed at least eight individuals Trump nominated to inspector general positions.However, "six of these nominees had srved as politically appointed officials in the first or second Trump administration."
Thirteen-plus months into his second term, Donald Trump alreeady had shattered all records for corruption by a public official. Now we have learned that
The Trump administration is throwing its support behind the prediction market operators Kalshi and Polymarket in a critical legal battle between the growing prediction market industry and states that wish to ban these platforms.
The move by Michael Selig, the recently appointed chairman of the Commodity Futures Trading Commission, could have enormous implications for how sports betting is regulated in the country and, if Kalshi and Polymarket were to prevail, could erode the ability for states to effectively regulate gambling.
Any friendly decision the CFTC makes on this industry could end up financially benefiting the president's family as well. President Trump's son, Donald Trump Jr., has invested in Polymarket through his venture capital firm and is a strategic advisor for Kalshi.
The CFTC currently regulates prediction markets, and that federal oversight allows Kalshi and others to operate in all 50 states, even those where gambling is illegal. Several states have sued Polymarket and Kalshi, alleging that the companies effectively operate casino or gambling operations in violation of state gambling laws, and have ordered them to shut down or stop operating in their states.
The Iran war has proven a boon for many investors as
According to a Reuters review of Polymarket's website, $529
million was laid on a
series of contracts tied to the timing of attacks, and $150 million was bet on
contracts on the removal of Khamenei as Supreme Leader.
Analytics firm
Bubblemaps said on X that six accounts made a $1.2 million profit from
Polymarket bets funded in the hours before Saturday's raids.
Rival Kalshi also ran a market on "Khamenei out"....
Democratic senator Chris Murphy on Connecticut has vowed to introduce legislation to ban this practice while
Democratic senators on
February 23 had also raised concerns that prediction markets breached U.S.
rules, and created incentives to foment conflict and disclose classified
information, after a mystery trader made a
roughly $410,000 profit betting on the ouster of Venezuelan President Nicolas
Maduro.
It was seven months ago that we learned
Two federal investigations of the online prediction betting site Polymarket have been closed with no charges filed against the cryptocurrency-based marketplace, a person familiar with the matter told CNBC on Tuesday....
The anticlimactic conclusion of the probes is the latest example of the Trump administration dropping actions initiated under the Biden administration against crypto companies or online betting markets.
In May, the CFTC moved to drop its appeal of a federal judge’s ruling that allowed the prediction market KalshiEx to accept bets on U.S. elections.
The Justice Department and CFTC had been investigating whether Polymarket was accepting bets from people in the United States, despite promises made by the company in early 2022 not to do so.
The assurances were made after Polymarrket was fined $1.4 million by the CFTC, which concluded that the marketplace had failed to register as a facility for even-based binary options, Bloomberg reported.
As a presidential candidate in spring of 2024, Donald Trump pledged to "demolish the deep state." On election night six months later, the "candidate of peace" vowed "I'm not going to start wars." He now has unleashed a massive bombing campaign against Iran, putting the lie to one promise, and his promise to "end the deep state" has become cover for unleashing a deep state with unimaginable depth and breadth.
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