Trump Signs Executive Order That Aims to Curb Ticket Scalping

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Trump signs executive order targeting ticket price-gouging | CNN Business

Musician Kid Rock, who also appeared at the Republican National Convention last July, was present at the signing in the Oval Office. “I’ve spoken to him over the years about it and it bothers him,” Trump said about Kid Rock during the executive order’s signing. “It bothers a lot of other artists. They go out with a $100 ticket, and it sells for $2,000 the following night.” Trump admitted that he hadn’t known much about price gouging, “but I checked it out, and it is a big problem.” He also encouraged Kid Rock, whose real name is Robert James Ritchie, to say a few words on the matter.

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President Trump signs executive order to crack down on ticket scalping

President Donald Trump on Monday signed an executive order aimed at cracking down on the massive amount of ticket scalping and reselling that has taken place in recent years, resulting in record-high ticket prices. Although initially-set ticket prices have not fluctuated much in recent years, scalpers and bots have notoriously grabbed up the tickets for high-demand events and concerts, including tickets to see award-winning performers like Taylor Swift, Beyonce and Ariana Grande, drastically increasing their prices. The order directs the Federal Trade Commission (FTC), the Department of Justice (DOJ) and state officials to enforce laws that prevent fans from being overcharged for the tickets.

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Trump Signs Order Targeting Ticket Scalpers and Fees

The new order, which he signed with musician Kid Rock by his side, aims to combat high ticket prices by going after professional ticket brokers that use bots to snap up large quantities of face-value tickets to the most in-demand events and resell them at high markups. “Anyone who’s bought a concert ticket in the last decade, maybe 20 years, no matter what your politics are, knows that it’s a conundrum,” said Kid Rock, who wore a red, white and blue sequined outfit and sunglasses. Bots “come in to get all the good tickets to your favorite shows you want to go to, and then they’re relisted immediately,” for huge markups that don’t benefit artists, he said. The White House said the order aims to ensure greater price transparency at all stages of the ticket-buying process. Today, consumers typically buy tickets on platforms like Ticketmaster and can resell or buy tickets secondhand on platforms such as StubHub.

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The president's order will also ensure price transparency at all stages of the ticket-purchasing process, including through the secondary ticketing market. The order comes after President Obama issued an executive order on ticket scalping in the concert and entertainment industry. The president will also work with the Treasury Department to ensure that ticket scalpers are operating in full compliance with the law.
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The order directs Attorney General Pam Bondi and Treasury Secretary Scott Bessent to ensure that scalpers offering tickets at higher prices than their face value comply with all Internal Revenue Service rules. It also orders the Federal Trade Commission to ensure “price transparency at all stages of the ticket-purchase process.
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