President Donald Trump has made it clear that he is invested in the sports world. He became the first sitting President to attend the Super Bowl and he was present at the NCAA Wrestling Championships. Now, he just signed an executive order that will change ticket prices Nationwide.
BREAKING: Donald Trump Just Changed Ticket Prices Nation Wide For Sporting Events (Report)
Ticket price gouging in live entertainment was ended Monday by an executive order signed by President Trump:
The order directs the Federal Trade Commission (FTC) to work with Attorney General Pam Bondi to ensure competition laws are enforced in the concert and entertainment industry. It aims to uphold price transparency throughout all stages of the ticket-buying process for consumers.
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.
“I want the fans to have fair ticket prices, to be able to go enjoy more shows,” Kid Rock said. “I’d like to take my ticket price lower, but if I set my ticket prices low, these bots immediately eat them up and they resell for hundreds of dollars more and I’m just making these bad actors rich.”
Trump’s order demands that the Better Online Ticket Sales (BOTS) Act, enacted in 2016, be more rigorously enforced, which allows the FTC to take action against those who resell concert tickets purchased in bulk through bots.
Taylor Swift’s Eras Tour in 2022 drew heightened attention to the issue of price gouging, when resale prices reached tens of thousands of dollars. Legislators accused Ticketmaster, the country’s biggest ticketing website and concert promoter, of operating as a monopoly because of its sky-high prices.
This is certainly a groundbreaking executive order that will impact not only Sports, but live entertainment throughout the United States.
