Rep. Titus Calls for CFTC Investigation into Trump Nominee Brian Quintenz Over Kalshi Connections

Representative Dina Titus Requests CFTC Inquiry into Quintenz’s Ties with Kalshi

U.S. Representative Dina Titus has urged the Commodity Futures Trading Commission (CFTC) to conduct a thorough investigation into Brian Quintenz, the nominee proposed by President Donald Trump to lead the agency. Titus’s concerns stem from Quintenz’s relationships with Kalshi, a prediction market platform. Quintenz is set to succeed the current CFTC Chair Caroline Pham.

Titus Demands Transparency in Communications Between Quintenz and the CFTC

Titus has called on the CFTC to disclose all communications involving Brian Quintenz related to commission activities concerning prediction markets. She also requested details about attempts to reach Quintenz through his personal email for matters linked to the commission. Earlier in the year, Titus highlighted the importance of questioning Quintenz regarding his intentions toward prediction markets, emphasizing that his leadership could affect state control over gaming regulations and taxation.

Additionally, Titus referenced findings by prediction market expert Dustin Gouker, who revealed, via a Freedom of Information Act request, possible issues surrounding Quintenz’s nomination. Gouker reported that an associate of Quintenz might have sought confidential information from the CFTC regarding the approval process for potential competitor designated contract markets against Kalshi.

Titus also expressed doubts about the promises Quintenz made if appointed as CFTC chair. Although Quintenz pledged to resign from Kalshi, divest his shares, and abstain from related decisions for a year, Titus argued these commitments may be unrealistic since Quintenz would likely serve as the only commissioner on the typically five-member leadership panel.

Quintenz’s Nomination Faces Additional Challenges

Brian Quintenz was nominated earlier this year by President Trump to lead the CFTC. Previously, Quintenz served as a commissioner during Trump’s first term and was generally well-regarded in the cryptocurrency community. The CFTC is anticipated to become increasingly influential in shaping regulations for the crypto industry as Congress considers legislation expanding the agency’s authority.

However, Quintenz’s confirmation has encountered obstacles. Just recently, leaked email correspondence connected to Quintenz delayed the voting process, complicating his confirmation.

If he is confirmed as chair, Quintenz will oversee the CFTC amid a major leadership turnover, with all other commissioners either having resigned or planning to step down soon.