Democrats are preparing to investigate how Trump’s presidency became so profitable. And they plan to end it if they win in November

A report from Axios says that Democrats are getting ready for a major legislative fight, preparing a hostile audit of President Trump and his inner circle. Their goal is to expose and eventually stop what they call the most profitable presidency in American history. If Democrats win the House in the November midterms, they plan to send subpoenas across the entire Trump orbit to look into these financial dealings.

The plan for these investigations is already laid out in a huge 927-page financial disclosure from Trump. The document lists $2.2 billion in assets and details every business venture that made 2025 the most profitable year of his life. One of the most striking numbers involves a crypto business that barely existed when he took office but brought in roughly $1.2 billion in just one year. 

Trump earned $635 million in royalties from the $TRUMP meme coin. However, that coin has dropped about 95 percent from its launch during inauguration week, causing billions of dollars in losses for the people who bought it. Besides crypto, Trump reported tens of millions of dollars in income from legal settlements with major tech and media companies, along with new income from branded sneakers, watches, perfumes, Bibles, and licensing deals in other countries.

Investigators plan to focus on people close to the president rather than Trump himself

Democratic investigators plan to focus mainly on the people around the president. Unlike Trump, his family members, allies, and appointees can be forced to testify under oath. One area they want to look into is World Liberty Financial, a crypto venture started by the Trump and Witkoff families that has attracted a lot of foreign money, including a secret $500 million investment from a senior royal from the United Arab Emirates.

Investigators are also paying close attention to the business connections of Donald Trump Jr., Eric Trump, and the sons of Commerce Secretary Howard Lutnick. These people are linked to at least 14 companies that are currently seeking $8.9 billion in federal support for critical-minerals deals.

Jared Kushner is also a major focus of these investigations. While he was leading Middle East peace talks, his firm raised billions of dollars from Gulf governments, a arrangement detailed in raising funds from Middle East governments while he served as an official envoy to the region. 

His firm’s rise has also been traced in a book describing turning proximity to power into billions. In Albania, his firm was given status as a strategic investor for a $1.4 billion luxury resort being built on a protected island. That project led to large protests known as the flamingo revolution.

Trump has brushed off concerns about these disclosures. During a CNBC interview on Thursday, he said he did not know about many of the crypto profits because his son Eric and outside firms handle his investments.

He also said there is nothing illegal about these activities, arguing that presidents cannot realistically step away from every decision that might affect their personal money. On Wednesday, he told reporters that his money is managed by outside advisers through what he called a “blind account.” Trump also said, “Everybody is profiting,” because “the stock market’s going up.”

White House spokesperson Anna Kelly defended the president in a statement, saying, “President Trump only acts in the best interests of the American public, which is why they overwhelmingly re-elected him to this office, despite years of lies and false accusations against him and his businesses from the fake news media. There are no conflicts of interest.”

As the midterms get closer, House Speaker Mike Johnson has warned about the pressure that may be coming. Speaking at the Faith and Freedom Coalition’s annual summit last week, he said, “They will turn every committee of Congress into an investigative body, and they’ll go after the president’s family, the Cabinet, his donors and friends.” He added, “Half of you in this room will be targeted,” and told the audience, “I run the protection program. I’ll take care of you.”