The Megyn Kelly Show: AM Update 3/17/2026 (Guest Host: Mark Halpern) Episode Title: Vance to Head Fraud Task Force, Trump Pressures Allies on Iran, SBF Vying for Pardon
Release Date: March 17, 2026
Host: Mark Halpern (filling in for Megyn Kelly)

Episode Overview

This AM Update episode, hosted by Mark Halpern, offers a fast-paced breakdown of major headlines: President Trump's launch of a sweeping federal welfare fraud task force led by Vice President J.D. Vance; escalating U.S. military operations in Iran's Strait of Hormuz, and the geopolitical friction over contributions from allied nations; severe nationwide weather events; and the latest on Sam Bankman-Fried's pardon bid post-FTX scandal. Notably, this episode leans into in-depth discussion and direct quotes from the key policymakers.

Key Discussion Points and Insights

1. Trump Launches Welfare Benefits Fraud Task Force

[02:32–06:47]

• Executive Order Announced: President Trump signed an order establishing the Welfare Benefits Fraud Task Force, responding to “staggering” fraud in Minnesota’s benefits system—losses possibly “totaling in the billions.”

• Task Force Leadership:

  • Chair: Vice President J.D. Vance
  • Vice Chair: FTC Chairman Andrew Ferguson
  • Senior Advisor: Stephen Miller

• National Scope:

  • The order speculates similar fraud in “California, Illinois, New York, Maine, and Colorado.”
  • Task Force’s remit: “coordinate and accelerate a comprehensive national strategy to stop fraud, waste and abuse within federal benefits programs.”
  • This initiative is part of the administration's crack-down on government waste, noting a new DOJ post—Assistant Attorney General for National Fraud Enforcement.

• Recent Investigative Journalism:

  • City Journal and Nick Shirley uncovered “fake providers,” “fraudulent claims,” and organized networks siphoning taxpayer funds.
  • President Trump asserts the exposed $19B fraud in Minnesota is likely "one little aspect," sketching a larger, primarily “blue state” pattern, but pledging to go after fraud “wherever it’s taking place.”

  Notable Quote:

  • Donald Trump [04:23]:

    “You've been seeing it and seeing it pretty big in Minnesota, $19 billion. But that's only for one little aspect of the fraud... And California, as they say, is 10 times worse... This is not a Republican, Democrat thing. This is wherever it's taking place... if we found half of the fraud that's taking place in this country... we would have much more than a balanced budget.”

• Stephen Miller’s Contention:

  • Claims fraud “could ultimately reach into the trillions of dollars.”
  • Suggests Democrats set up systems “to funnel hundreds of billions and ultimately trillions of dollars to migrants,” citing an anecdote where “half” of detained immigrants in ICE custody claimed Medicaid benefits.

  Notable Quote:

  • Stephen Miller [05:16]:

    “The extraction of wealth from American taxpayers to people who don't belong here is the primary cause of the national debt, and this is the first ever effort to shut that down.”

• J.D. Vance on Interagency Gaps:

  • Notes lack of agency coordination as a “big hole,” e.g., Treasury and DOJ not sharing evidence of financial fraud, HHS and Treasury not communicating on Medicaid fraud.

  Notable Quote:

  • VP J.D. Vance [06:14]:

    “What this executive order does is force the entire apparatus of the federal government to do two things. Stop the fraud in the American taxpayer and make sure that the benefits that ought by right go to American citizens go to American citizens and not to fraudsters.”

2. Operation Epic Fury & Geopolitics in the Strait of Hormuz

[06:47–11:15]

• Military Campaign Update:

  • Trump asserts US strikes in Iran have cut ballistic and drone attacks by “90%” and “95%” respectively, destroyed “over 100 naval vessels,” and “dozens of minelaying ships.”

• Call for Allied Participation:

  • Trump criticizes reluctance from “countries we’ve helped for many years,” highlighting imbalances (“We have 45,000 great soldiers protecting them... And we want to know, do you have minesweepers? ‘Would rather not get involved, sir.’”)

  Notable Quote:

  • Donald Trump [07:52]:

    “For 40 years we're protecting you and you don't want to get involved in something that is very minor. I just want the fake news media and everybody else to remember that that was said because... if we ever needed help, they won't be there for us.”

• Oil Markets and US Drilling:

  • Trump claims successful market stabilization; touts “we drill, baby, drill... number one in oil by double now,” crediting both domestic and Venezuelan output.

  Notable Quote:

  • Donald Trump [09:29]:

    “We’re number one in oil by double now... Venezuela’s been great, by the way. Millions, literally millions of barrels of oil are being taken out... The big companies are going in... numbers that they’ve never been able to do.”

• Prospects for Negotiation with Iran:

  • Trump says Iran is “negotiating,” claims “all their leaders are dead... we don’t know who we’re dealing with,” and describes the Iranian regime as a “paper tiger.”

  Notable Quote:

  • Donald Trump [10:28]:

    “They're a country based on disinformation and now they're using disinformation plus AI and that's a terrible situation... I talk to everybody because sometimes good things come out of it. But I don't know if they're ready yet. They're taking a pounding.”

3. Extreme Weather Across the U.S.

[12:39–14:27]

• Bomb Cyclone Blizzard:

  • Midwest & Great Lakes battered; “30 million Americans under winter storm alerts,” and “120 million…under wind alerts.”
  • “More than 3,000 flight cancellations,” with “snow drifts,” “dozens of crashes,” and widespread power outages.

  Storm Explanation:

  • Meteorologist [13:20]:

    “This type of winter storm forms through a process known as bombogenesis…Think of it as a winter hurricane… often accompanied by strong winds, blizzard conditions and rain or snow.”

• Southwest Heat Wave:

  • “39 million people under heat alerts,” Phoenix hitting “low to mid 90s,” with “temps as high as 107 degrees by Friday” forecasted.
  • Some areas “20 to 30 degrees above normal.”

4. Sam Bankman-Fried (SBF) Seeks Presidential Pardon

[14:27–19:00]

• Background:
  • SBF, convicted in 2023 for FTX-related fraud, is serving 25 years and ordered to forfeit $11B.
  • Now lobbying via social media proxies for a Trump pardon, recently praising Trump and criticizing Biden on prescription drugs and energy prices.
• Congressional Reaction:
  • Senator Bernie Marino (R-OH):

    “The guy’s a piece of shit. The guy shouldn’t be pardoned. The guy should go to jail for a long, long time.” [16:40]

  • Senator Cynthia Loomis (R-WY):

    “I hope the president doesn't fall for that. He hurt a lot of people. He should have to spend some time contemplating that.” [16:57]

• Pardons for Other Crypto Figures:
  • Trump has pardoned Ross Ulbricht (Silk Road) and Changpeng "CZ" Zhao (Binance).
  • But SBF’s prospects seem dim; Trump told NYT in January “[I]t is not planned to pardon Bankman Fried. I don’t know him at all. No.”

Memorable Quotes & Moments (with Timestamps)

• Trump on Welfare Fraud:

  “If we found half of the fraud that's taking place in this country, we would have much more than a balanced budget.” — Donald Trump [00:42], [04:23]

• Stephen Miller’s Claim on Migrant Fraud:

  “The extraction of wealth from American taxpayers to people who don't belong here is the primary cause of the national debt...” — Stephen Miller [05:16]

• VP Vance on Federal Coordination:

  “What this executive order does is force the entire apparatus of the federal government... to make sure... benefits... go to American citizens and not to fraudsters.” — J.D. Vance [06:14]

• Trump on Allied Reluctance:

  “We have 45,000 soldiers... protecting them... and you don't want to get involved in something that is very minor?” — Donald Trump [07:52]

• Senator Marino on SBF:

  “The guy's a piece of shit. The guy shouldn't be pardoned. The guy should go to jail for a long, long time.” — Senator Bernie Marino [16:40]

Important Timestamps

• 02:32–06:47: Trump exec order, task force details, discussion on scale and mechanics of welfare fraud
• 06:47–11:15: Iran operations update, global oil dynamics, allies’ roles
• 12:39–14:27: Extreme weather reports, storm/blizzard impact, heat wave details
• 14:27–19:00: SBF pardon push, Capitol Hill backlash, Trump’s clemency record in crypto

Summary

This AM Update episode delivers a comprehensive sweep of morning headlines with focus, direct commentary, and several pointed quotes from current administration voices and Congress. It sets up the narrative arcs for fraud enforcement, U.S. military action and diplomatic pressure, climate and weather extremes, and high-profile legal and political drama in crypto. The tone is urgent and often polemical, delivering a right-leaning political analysis "without BS or fear."