Brian Quintenz’s nomination as chair of the CFTC is delayed probably due to ethical concerns: Quintenz is board member of prediction market platform Kalshi, which he also has > 3mm stake. Controversially, his team requested confidential information about Kalshi’s competitors—such as Polymarket—prior to his confirmation
Eleanor Terrett
Eleanor Terrett30.7.2025
🚨NEW: There’s lots of speculation in DC about what prompted the White House to request a delay in Monday’s vote to advance @BrianQuintenz’s nomination for @CFTC chair. Some say it’s about vote count concerns, while others point to lobbying from the American Gaming Association over Quintenz’s support for prediction markets. Still others cite alleged unease expressed by industry players like the Winklevoss twins. And then there’s this blog post from a little-known publication called The Closing Line — said to be making the rounds on the Hill and in crypto lobbying circles today. Summarizing the post titled “What An FOI[A] Request Tells Us About The CFTC Nominee And Potential Conflicts Of Interest,” authored by @DustinGouker: Emails obtained via Gouker’s FOIA request appear to show Quintenz’s slated chief of staff requesting access to confidential CFTC matters as part of a transition planning process for Quintenz’s anticipated chairmanship. The blog notes that Kalshi is regulated by the CFTC and that Quintenz sits on the board of Kalshi, although he’s said publicly he will step down from the board if he’s confirmed by the Senate. Most of the emails cited were sent last month as part of that transition process. They also appear to show Quintenz’s associate asking CFTC staff to brief him on confidential matters that, according to Gouker, could intersect with Kalshi competitors like Polymarket and PredictIt. To be clear, it’s not known whether the blog post — published Saturday — influenced the White House’s Monday decision, but there’s speculation on the Hill that it may have been a contributing factor. The White House has not offered a reason for the pause, and told Bloomberg yesterday that Quintenz is still President Trump’s nominee for the position. I’ve reached out to the relevant parties for comment.
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