Thread yesterday about Cantor Fitzgerald buying tariff hedge fund:

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“Public reporting indicates that Cantor has offered companies the opportunity to trade their legal claim to a future tariff refund in exchange for 20 to 30% of the duties the company paid,” the letter said. “In this scenario, if the courts determine that the tariffs are illegal, the company stands to recover hundreds of millions of dollars.”

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Sadly for America's favorite "native American" politician, her fishing expedition went nowhere fast because as Bloomberg reported in August, while Cantor Fitzgerald held internal discussions about facilitating such trades, it - unlike Kalshi, PolyMarket and various of its invesdtment banking peers - "quickly shut down the idea before executing any transactions."

According to the Bloomberg report, Cantor received what is known as a reverse inquiry, which is essentially a client asking whether the firm can facilitate such trades, which are done by larger Wall Street banks, and some staff discussed with potential clients about arranging them before the idea was rejected. As an aside, Cantor takes no directional position on brokered trades, and only pockets a commission when it matches a buyer and a seller, which of course is the business model of online better markets which are now valued in the tens of billions.

“We have not facilitated or executed any trades in that market,” Cantor spokesperson Erica Chase told Bloomberg adding that “what is being reported about our business is absolutely false.”

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