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The Supreme Court decision striking down Donald Trump's many tariffs may prove to be a windfall for the family of Commerce Secretary Howard Lutnick, a key architect of Trump's signature economic policy. In July, Wired reported that Cantor Fitzgerald, which Lutnick chaired until he was appointed to Trump's Cabinet, was allowing its traders to purchase the rights to hundreds of millions of dollars of refunds in the event the tariffs were struck down in court. The firm now happens to be headed by Lutnick's sons Kyle and Brandon.

Cantor Fitzgerald is rejecting claims that it sold a product that would pay off if the Supreme Court ruled, as it did Friday, against tariffs imposed by the Trump administration, where Cantor's founder is Commerce Secretary. Wired reported in July that Cantor was among the Wall Street firms pitching a financial product tied to the outcome of the Supreme Court case. It cited an email sent by a Cantor salesman that said the firm had "already put a trade through representing about ~$10 million" of tariff-refund rights "and anticipate[s] that number will balloon in the coming weeks." Two Democratic senators called for an investigation and the CEO of one of the country's largest import-logistics firms amplified the story.

Amid online claims Commerce Secretary Howard Lutnick's sons, Brandon and Kyle Lutnick, senior executives at Cantor Fitzgerald, could benefit from the Supreme Court's tariff ruling, a firm spokesperson told Newsweek it has "never executed any transactions or taken risk on the legality of tariffs." The Cantor Fitzgerald spokesperson added, "Any report suggesting otherwise is completely false."

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