It's not the meat that's problematic. There are a few points:

https://www.nytimes.com/2026/08/20/us/trump-wild-horses-legal-loophole-slaughter.html

The government can spend more than $3,000 to capture a mustang and bring it to market, but sells each for as little as $25. A horse can fetch up to $750 at a slaughter plant. The potential for profit keeps buyers coming.