The Donation: Context and Scale
Griffin's $50 million contribution to the Preserve America PAC in 2022 was the largest single political donation in Florida history. It came as DeSantis was positioning himself for a presidential run, and as Griffin was publicly criticizing Illinois Governor J.B. Pritzker. The donation was not merely a political contribution — it was a public statement of alliance between the nation's most powerful retail market maker and the governor of Florida.
The Move to Miami
In 2022, Griffin announced Citadel's move from Chicago to Miami. In press statements, he praised Florida's business environment, tax climate, and quality of life. The move brought Citadel's headquarters to a state whose governor had just received Griffin's most significant political investment. It also moved Citadel's primary regulatory nexus to Florida's Office of Financial Regulation — a less aggressive regulator than the Illinois Securities Department.
Florida's Regulatory Silence
In the years since the donation and the move, Florida's Office of Financial Regulation and Florida Attorney General's office have taken no public enforcement action or investigation related to Citadel Securities' PFOF practices. Given that 4.5 million Florida retail investors are directly affected by these practices, the absence of state-level investigation is notable — particularly in a state whose governor received $50 million from Citadel's founder.
The Appearance Problem
Even if no explicit agreement exists between Griffin and DeSantis, the appearance of regulatory capture is severe. Florida investors deserve to know whether their governor's historic political relationship with Citadel's founder is affecting the willingness of Florida regulators to protect them. The Florida Legislature's oversight committees should examine this question.