John Gaspar

🚨 BREAKING: TODAY I FORMALLY ASKED THE FEDERAL TRADE COMMISSIONER TO TAKE A HARD LOOK AT HISA’S $74.03 MILLION BUDGET (see formal letter below).🚨 Today I sent a detailed letter to FTC Chairman Andrew Ferguson asking the Commission to carefully examine HISA’s proposed 2027 budget before taking final action. This isn’t simply about one budget. It’s about fiscal stewardship, transparency, governance, accountability, and whether the current regulatory structure is delivering the value the Thoroughbred industry was promised. The letter asks important questions about: • The continued growth of HISA’s budget. • Technology, payroll, legal, consulting, travel, and administrative spending. • Startup loans, loan forgiveness, and outstanding loan obligations. • Governance, independence, and transparency. • HISA’s prolonged delay in resolving more than 30 proposed rule changes involving prohibited substances and the impact those delays may have had on regulatory certainty and fairness. • The FTC’s authority to require reforms if it concludes the current organizational model is no longer the most effective or fiscally responsible way to achieve Congress’s objectives. The letter also asks the FTC to examine whether allowing significant proposed rule changes to remain unresolved for years while enforcement continues under the existing rules promotes the fairness, consistency, and regulatory certainty that Congress intended. For those accused under rules HISA itself later proposed to amend, these delays may have resulted in years of litigation, substantial legal expense, reputational damage, and significant economic hardship. I want to be absolutely clear about one thing: I strongly support horse safety, meaningful medication rules, rigorous testing, and fair enforcement. This letter is not about weakening integrity. It is about ensuring that integrity is delivered through a system that is transparent, accountable, fiscally responsible, procedurally fair, and worthy of the industry that is required to fund it. Because I believe these issues are of national importance, copies of this letter have also been furnished to select Members of Congress all of which I have personal relationships with. I encourage everyone with an interest in the future of Thoroughbred racing to read the letter and decide for themselves. The full letter is attached below. REFORM IS COMING. Repost and speak out. @hisa_us @LisaLazarusCEO @BreedersCup @jockeyclub @NTRA