Trump-Linked Digital-Asset Firms Reinforce Legal, Lobbying Teams Ahead of Midterms
Summary
- Companies tied to President Trump’s family in the digital-asset industry are strengthening legal and lobbying defenses ahead of a possible Democratic victory in the midterm elections.
- If Democrats win control of Congress, they are likely to keep raising potential conflicts of interest between the Trump family’s businesses and government policy related to digital assets.
- World Liberty Financial, Binance, Polymarket and Kalshi are reinforcing their response systems by adding legal, administrative and lobbyist personnel as they prepare for congressional scrutiny.
Forecast Trend Report by Period
Digital-asset companies tied directly or indirectly to President Donald Trump’s family are preparing for a possible Democratic victory in the upcoming midterm elections. They are also bracing for potential congressional investigations.
Bloomberg reported on October 26 that World Liberty Financial, Binance, Polymarket and Kalshi are strengthening their legal and lobbying operations.
The move is aimed at a scenario in which Democrats win control of either the Senate or the House of Representatives in the midterms. Democrats have repeatedly raised concerns about potential conflicts of interest between the Trump family’s businesses and government policy on digital assets.
World Liberty Financial has recently expanded staffing in its legal and administrative functions. Digital-asset custodian BitGo also hired a lobbying firm in July with experience responding to congressional investigations, the report said.
Prediction-market platforms Polymarket and Kalshi have also hired lobbyists linked to Democratic figures. Polymarket has received investment from 1789 Capital, an investment firm backed by Donald Trump Jr., while Kalshi lists Trump Jr. as an adviser.
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