In February 2026, the Federal Trade Commission announced that it “secured a landmark settlement” with Express Scripts—one of the nation’s largest pharmacy benefit managers.  Formalized as a consent order, the settlement represents a milestone in efforts to rein in PBMs, whose practices largely escaped regulatory scrutiny until the FTC launched an industry-wide inquiry in 2022. That inquiry eventually led to the FTC bringing an administrative action against the “Big 3” PBMs in 2024, alleging that they inflated the list price of insulin drugs through rebate and other anticompetitive and unfair practices.

On January 13, 2026, President Trump nominated WeatherTech founder David MacNeil to the Federal Trade Commission. This nomination follows from the FTC tightening oversight of Made-in-USA claims in 2025, with the FTC declaring July “Made in the USA Month” and sending warning letters to companies with allegedly misleading marketing.