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Senators Press Howard Lutnick’s Former Investment Firm Over Tariff Conflict of Interest Concerns

Last month, WIRED reported that the investment banking arm of Cantor Fitzgerald, a financial services company led by the sons of US commerce secretary Howard Lutnick, was exploring creating a financial product for clients to bet on whether President Donald Trump’s signature tariffs would be struck down in court. In response to WIRED’s reporting, Democratic senators Ron Wyden and Elizabeth Warren sent a letter to Cantor Fitzgerald chairman Brandon Lutnick on Wednesday demanding more information

Trump’s Commerce Secretary Loves Tariffs. His Former Investment Bank Is Taking Bets Against Them

Cantor Fitzgerald, a financial services company led by the sons of US Commerce Secretary Howard Lutnick, is creating a way for investors to bet that President Donald Trump’s signature tariffs will be struck down in court. Traders at the firm’s investment banking subsidiary, Cantor Fitzgerald & Co., say they have the capacity to buy the rights to hundreds of millions of dollars in potential refunds from companies who have paid Trump’s tariffs, according to documents viewed by WIRED. Lutnick ran

Trump's Commerce Secretary Loves Tariffs. His Former Investment Bank Is Taking Bets Against Them

Cantor Fitzgerald, a financial services company led by the sons of US Commerce Secretary Howard Lutnick, is creating a way for investors to bet that President Donald Trump’s signature tariffs will be struck down in court. Traders at the firm’s investment banking subsidiary, Cantor Fitzgerald & Co., say they have the capacity to buy the rights to hundreds of millions of dollars in potential refunds from companies who have paid Trump’s tariffs, according to documents viewed by WIRED. Lutnick ran