CFTC Makes $1.8M Whistleblower Award -- Second Award Under Trump Administration

Posted January 2, 2026

By the Constantine Cannon Whistleblower Lawyer Team

Shortly before the holidays (on December 19), the Commodity Futures Trading Commission (CFTC) announced a $1.8 million award to two whistleblowers “whose information significantly contributed to the successful resolution of enforcement cases involving defrauded investors.”[1] It is only the second award under the CFTC Whistleblower Program since President Trump took office, the first one (of $700,000) being awarded in May.

Like the Securities and Exchange Commission (SEC) under the closely analogous SEC Whistleblower Program, the CFTC maintains strict confidentiality over its whistleblowers. So in announcing the latest award, it did not identify the whistleblowers or the enforcement actions they supported. Even the agency’s Whistleblower Award Determination — which was largely redacted — provided little detail on the basis for the award or the specifics of what the whistleblowers did to earn it.[2]

Under the CFTC and SEC Whistleblower Programs, individuals who provide the agency with information that leads to a successful enforcement action may receive up to 30% of the Government’s recovery. Since issuing its first whistleblower award in 2014, the CFTC has made more than $395 million in awards to whistleblowers who have helped the Government bring in roughly $3.3 billion in recoveries.

With only two awards this year — collectively amounting to only $2.5 million — this is by far the smallest year for the program in terms of number and size of awards. Some are questioning where the agency currently stands given the dearth of awards this year.

Constantine Cannon whistleblower partner Gordon Schnell notes a noticeable decline in both CFTC and SEC whistleblower awards this year. “There really has been a dramatic drop,” Schnell says, “some of which can be explained by the agency streamlining that has occurred with both staff reductions and more targeted enforcement priorities.”

But Schnell worries something more may be going on with the programs. Schnell says he “hopes this is just a blip in what up until now has been a steady stream of awards, leading to a growing number of whistleblower tips, leading to billions of dollars in Government recoveries.” According to Schnell, by all accounts the whistleblower programs have been an unprecedented success leading Congress to use them as a model for numerous other whistleblower programs.

One bright light in all this is the continued stewardship of Cynthia Lie, acting director of the CFTC Whistleblower Office. Lie has shown a strong commitment to the CFTC program, promoting it at conferences and in her public statements, and being highly responsive to whistleblowers and their counsel when reaching out to the agency for assistance or support.

In the CFTC’s press release announcing the most recent award, Lie stayed true to this commitment singing high praise for the whistleblowers involved and publicly recognizing the critical role of whistleblowers in supporting the CFTC’s enforcement mission:

We are grateful to the whistleblowers for coming forward. Like many before them, these whistleblowers showed courage and commitment to the public interest. They provided critical assistance . . . . We remain committed to rewarding individuals who provide significant information and cooperate with our investigations.

With Lie at the helm, we can expect continued support from the CFTC Whistleblower Office. Schnell points to his own dealings with Lie, noting how supportive she and her Office have been with the matters he has pending before them. Whether that support will extend throughout the agency and lead to a resumption of what had been a consistent flow of CFTC whistleblower awards remains to be seen in the months ahead.

Constantine Cannon has substantial experience representing whistleblowers under the CFTC Program. If you would like to learn more about the Program, what it means to be a whistleblower more generally, or our multiple whistleblower successes, please do not hesitate to contact us. We will connect you with an experienced member of the Constantine Cannon whistleblower team for a free and confidential consultation.