Jul 9, 2026
President Trump has made gun ownership rights a public policy priority, and now a family member with a big position in a gun company is expected to benefit from a favorable proposed regulatory ruling.
Donald Trump Jr. is at the center of the issue, holding shares in GrabAGun [NYSE:PEW], a Texas-based online firearms retailer that sells handguns, rifles, shotguns and ammunition, among other items.
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The company, nicknamed the “Amazon of Guns,” is trading at about $3 a share as of July 8. Shares are up 3.6% year to date, but the stock has skyrocketed 33.9% since July 2 on expectations of an upcoming regulation from the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF).
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Under the ATF’s guidance, a new rule would enable licensed firearms dealers to ship guns directly to in-state residents following identity verification and a background check. The ATF rule is one of 34 deregulatory proposals issued by the agency in response to a February 2025 White House executive order to ease public access to guns.
Critics voice their concerns
Those who are critical of this potential rule say the new regulation could drive a significant increase in online gun sales, while adding that public safety is at risk, as is the survival of local gun shops. Trump Jr. — who holds over 300,000 shares in GrabAGun, valued at more than $700,000 — stands to benefit from the ruling.
“Even with the most robust virtual sales and background check process, there is no way for a gun store that is selling a gun over the internet to know if the person making the purchase is funneling the firearms to others,” Aneesa McMillan, spokesperson for Giffords, a gun control advocacy group, said in a statement, as reported by Reuters.
Trump family spokesperson Andrew Surabian said Trump Jr. is not involved in the ATF proposal.
“Don is a lifelong businessman and vocal advocate of our Second Amendment rights,” Surabian said in a statement shared with Reuters. “He does not interface with the Federal Government as part of his role with any company that he invests in or advises and had zero involvement in this particular decision.”
While company CEO Marc Nemati said neither he nor Trump Jr. were unaware of the ATF regulatory proposal, GrabAGun cited the proposed rule in a May 13 company press release.
“The ATF has proposed amendments that could allow remote firearm transfers with secure identity verification and direct-to-home delivery under an approved framework, and we believe GrabAGun is uniquely positioned to capitalize on this potential opportunity,” Nemati stated.
“For over 15 years, we have invested in building the digital infrastructure, compliance systems and regulatory expertise required to operate in this complex regulatory environment at scale. Few companies have spent that long building the operational foundation that this kind of regulatory evolution would demand.”
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Why Trump Jr. should be in the clear
Legal experts say Trump Jr., who stands to benefit if the proposed rule passes regulatory muster, has the law on his side as a GrabAGun investor.
“It is not unlawful for a President’s family member to own shares of or to serve on the board of a company that benefits from a regulatory change,” Neama Rahmani, a personal injury lawyer and president of West Coast Trial Lawyers, told Moneywise.
“Though there may be the appearance of a conflict or other conflict of interest, that alone is not enough. There has to be a specific violation of law, such as bribery or kickbacks.”
ATF and other agency regulations must comply with the APA and Congressional statutory authority, Rahmani noted, but a federal government regulation isn’t invalidated because a politician or their family members financially benefit.
“Obviously, a change like this can dramatically change the industry and harm small brick and mortar shops, and it raises questions about gun safety for online purchases,” Rahmani noted. “But those are public policy questions, not legal ones. Legally, opponents of the change have little recourse.”
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Other legal experts agree, noting that Trump and his family have no legal worries.
“While I prefer the Trumps sticking with cryptocurrency, I see nothing wrong with them making loads of money off of gun sales,” Joseph Gutheinz, founder at Texas-based Gutheinz Law Firm, LLP, told Moneywise.
Gutheinz noted President Trump is a Second Amendment champion who has always advocated for liberal laws with respect to guns and gun ownership. “Yet it’s unlikely that anyone could point to any actions of President Trump that would indicate he changed his policies to favor his son’s business,” Gutheinz stated.
He also noted that, under the ATF proposal, Americans buying guns in person or by mail must be vetted, with requisite identification shown.
“Both parties in a gun purchase transaction should each face consequences if they fail to meet all laws governing the sale or acquisition of guns or ammunition,” Gutheinz added.
“Gun buyers who lie about their backgrounds to obtain a firearm should be prosecuted, as should sellers who turn a blind eye, fail to conduct requisite background checks, or lie.”
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A former Wall Street bond trader, Brian O'Connell is the author of two best-selling books: “The 401k Millionaire” and “CNBC’s Creating Wealth.” His work is featured on national finance and business platforms like TheStreet.com, CBS News, CNN, The Wall Street Journal and Forbes.
