The Feds Step In! US Congressman Demands Investigation into PSA Monopoly

Right then, the ink is barely dry on the PSA/Beckett contract, and we’ve already got a massive plot twist. If you thought the "grading wars" were over, think again—the US government might be about to restart them.

​Just days after Collectors Holdings (the parent company of PSA) announced they were buying Beckett (BGS), a US Congressman has formally demanded the Federal Trade Commission (FTC) launch an immediate antitrust investigation.

​Congressman Pat Ryan didn't mince his words, accusing Collectors of trying to "corner the trading card market" and claiming this latest deal would give them control over 80% of the entire industry.

​What is the accusation?

In a letter sent to the FTC Chair, Ryan argued that Collectors Holdings is aggressively eliminating its competition.

​The Roll-Up: He pointed out that they bought PSA in 2021, snapped up SGC in early 2024, and are now grabbing Beckett.

​The Numbers: According to his data, this merger leaves PSA (72%), SGC (8%), and Beckett (3%) all under one roof, effectively creating a monopoly with no real alternative for collectors.

​The Conflict: He also highlighted that Collectors doesn't just grade cards; they own the marketplace (Goldin), the data (CardLadder), and the grading service. He argues this "vertical integration" allows them to manipulate the value of assets and dictate terms to small businesses.

​Ryan even dropped a quote that hits home for us hobbyists: "Kids, collectors and local card stores, shouldn't have to worry that the system is stacked against them".

​Why does this matter for us in the UK?

You might be thinking, "This is American politics, what’s it got to do with me in the UK?" The answer is: Everything.

​Pricing Power: If one company controls 80% of the market, they can set whatever price they want. We already pay a premium in the UK for shipping and intermediaries; if the base grading fees go up because there's no competition, we’ll feel it the hardest.

​Service Choice: We use BGS for thick cards and SGC for vintage because they offer something different. If the US government decides this merger is illegal, it could force Collectors to sell off SGC or Beckett, keeping those options truly independent.

​The "Freeze": Investigations like this can take months. It throws a huge spanner in the works for the Beckett acquisition. We might see a period of uncertainty where nothing changes until the lawyers sort it out.

​So, is the "Big 3" becoming the "Big 1" a done deal? Not if Congressman Ryan has anything to say about it.

​Watch this space, folks. The hobby drama isn't over yet.