The Supreme Court ruled 6-3 that President Trump had the authority to remove Federal Trade Commission Commissioner Rebecca Slaughter, a decision that significantly expands presidential power over supposedly independent federal agencies. The conservative majority found that provisions limiting presidential removal of commissioners to “for cause” violate the Constitution’s separation of powers. This ruling overturns the precedent set in *Humphrey’s Executor*, which previously shielded agency members from arbitrary presidential dismissal, leading to concerns that FTC policy will become more politicized.
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The Supreme Court has expanded presidential authority by striking down a federal law that previously limited the president’s ability to remove members of the Federal Trade Commission. This ruling, which allows for the dismissal of commissioners regardless of cause, overturns a nearly century-old precedent designed to shield agency decisions from political influence. The majority opinion asserts that subordinates exercising the president’s power are ultimately subject to his removal. While this decision has broader implications for several independent agencies, an exception was made for the Federal Reserve.
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Renters across the US are advocating for federal regulation of rental housing fees, often referred to as “junk fees,” which significantly increase housing costs and tenant vulnerability to eviction. These fees are imposed through opaque lease terms, making it difficult for tenants to contest them due to the high cost and disruption of moving. The Federal Trade Commission (FTC) is currently considering new rulemaking to address these practices, a move supported by hundreds of tenants and activists but opposed by many in the property management industry who argue fees are essential for financial stability and resident services. Recent FTC settlements with major landlords, Invitation Homes and Greystar, over allegations of unlawfully charging tenants millions in fees have amplified the call for nationwide protections, with lawmakers also urging the FTC to establish clear federal standards.
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The Commodity Futures Trading Commission (CFTC) is reportedly dismantling its regulatory efforts concerning online betting and cryptocurrency markets, a development coinciding with deepening ties between the Trump family and these burgeoning industries. The Trump family’s financial interests have significantly expanded through crypto and prediction markets, with Donald Trump Jr. holding advisory and investment roles in prominent firms like Polymarket and Kalshi. Simultaneously, the CFTC has seen a dramatic reduction in enforcement actions and significant staff changes, leading to concerns that political influence is undermining the agency’s oversight functions for the benefit of politically connected entities.
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The Commodity Futures Trading Commission (CFTC) is examining oil futures trades made on March 23 by at least three previously undisclosed firms: Qube Research & Technology, Totsa, and Forza Fund Ltd. These trades, which occurred shortly before an announcement regarding Iran, reportedly resulted in significant profits for the firms. While the firms have not been accused of any wrongdoing and deny awareness of an investigation, their trading decisions are being scrutinized alongside other suspicious trades that occurred around key geopolitical announcements, prompting a broader inquiry by the Justice Department as well.
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A federal judge has temporarily halted Arizona’s enforcement of gambling laws against predictive market operators like Kalshi, suspending a criminal case against the company. The ruling stems from a lawsuit filed by the federal government, which argues that federal law governing “swaps” preempts state gambling regulations. This decision prevents Kalshi’s upcoming arraignment on charges of illegal wagering.
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John Q. Hosedrinker