President-elect Trump's Cabinet Appointments

President-elect Trump has announced many significant Cabinet positions since his reelection on November 5, but the Secretary of the Treasury role remains unfilled.

Leading Candidates

One favorite for the position is Scott Bessent, an American investor and hedge fund manager known for being the top investor for liberal donor George Soros. Trump has referred to Bessent as "one of the most brilliant men on Wall Street" and met him at Mar-a-Lago in Florida on Friday, according to the Wall Street Journal.

Another contender is Howard Lutnick, CEO of Cantor Fitzgerald, who is an outspoken Bitcoin advocate. His company custodians billions in Tether reserves. The New York Times reported that several crypto executives, including Coinbase CEO Brian Armstrong and Ripple CEO Brad Garlinghouse, have lobbied Trump's transition team for Lutnick's appointment.

Current Odds

Despite other potential candidates, bettors on Polymarket currently see Lutnick and Bessent as the frontrunners for the Treasury position, with Lutnick holding a slight edge. Lutnick's odds are at 49%, with Bessent at 45%. Robert Lighthizer, the former U.S. Trade Representative, sits at just 4%.

Lutnick's odds saw a significant increase, rising from around 20% to 49% overnight, likely spurred by recent coverage and an endorsement from Elon Musk on X. Musk criticized Bessent as a "business-as-usual choice," suggesting Lutnick could enact real change to avoid driving America bankrupt.