United States President, Donald Trump, signed an executive order on Monday against ticket resale and price speculation at concerts, during an event where he was accompanied by singer Kid Rock, reports Efe.
The text instructs the Federal Trade Commission to work with Attorney General Pam Bondi to ensure that competition laws are properly applied in the concert and entertainment industry.
It also orders Bondi and Treasury Secretary Scott Bessent to ensure that ticket resellers comply with tax collection laws.
Trump signed the order at his desk in the Oval Office with Kid Rock standing next to him, dressed in a red suit with patriotic motifs of the American flag.
The singer, who has long supported the Republican leader, denounced that companies use bots to buy tickets in bulk and resell them with significant profit margins.
The Department of Justice sued Live Nation and its ticket sales portal, Ticketmaster, in May of last year, during the Joe Biden Administration, for monopolizing the market and harming artists and consumers.
The case caused a huge uproar in the United States due to complaints from fans when trying to purchase tickets for Taylor Swift's 'The Eras Tour' on Ticketmaster.