He chased the Mask for several episodes, when he obtained it failed to work for him (a moment taken directly from the original Dark Horse Comics in which "Walter" was a recurring character), he simply dropped it. Walter remained a recurring character throughout the series. He is strong enough to actually break the Mask in two. An impressive feat as only seconds before the Mask withstood being hit by cars and run over by a steamroller without a scratch).
It was revealed Walter runs for Mayor of Edge City. Even though he's already getting and putting on the mask (he spends a good part of the first season trying to get it, even without Pretorius's orders), for some reason, it does not work on him.