Howard Lutnick's old firm did not, in fact, profit from Supreme Court tariff ruling

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.