Congresswoman Demands Ethics Probe into CFTC Chair Nominee Brian Quintenz Over Kalshi Ties

U.S. Representative Dina Titus has called on the CFTC to investigate its nominated chair, Brian Quintenz , over possible ethical violations related to his role at Kalshi, a regulated prediction market platform. In a formal letter sent Monday to Acting CFTC Chair Caroline Pham, the Nevada Democrat urged the agency to determine whether Quintenz breached federal ethics rules, CFTC policies, or his own pledge made prior to Senate confirmation. Titus emphasized the need for transparency, requesting the release of all communications involving Quintenz and any discussions pertaining to prediction markets and event contracts. “As you are aware, Mr. Quintenz is currently on the board of Kalshi and holds stock options in the company,” Titus wrote, raising concerns about conflicts of interest, especially as Kalshi is directly regulated by the CFTC . Calls for Transparency Amid Delayed Nomination The White House has supported Quintenz’s nomination, but a vote has been delayed twice in the past month. A scheduled Senate Agriculture Committee hearing was recently canceled at the administration’s request, further fueling scrutiny over Quintenz’s ties to the platform. Titus cited a Freedom of Information Act (FOIA) request that allegedly showed Quintenz had inquired about Kalshi’s competitors and may have engaged with CFTC matters before receiving Senate approval. “While I hope Mr. Quintenz is following the law and his own ethical pledge, unfortunately this agency has already proven not to be transparent,” she said. The congresswoman also criticized the CFTC’s past decisions to permit trading on event contracts, including sports outcomes, which she labeled as illegal gambling. Titus pressed for the release of any internal communications, especially those involving efforts to engage with Quintenz through private email channels—an issue that could further complicate his confirmation process. Concerns Over CFTC Leadership Vacuum With Commissioner Kristin Johnson expected to step down later this year and Caroline Pham planning to resign once Quintenz is confirmed, the nominee may soon lead the agency solo. Titus questioned whether his promise to recuse himself from Kalshi-related matters for one year would be feasible, given the regulatory attention prediction markets are likely to receive. “Mr. Quintenz may be the only commissioner of the CFTC for some time,” she noted. “It seems impractical to believe that he will not make any decisions involving Kalshi for one year.” Titus also warned that regulatory inaction, in such a scenario, would directly benefit Kalshi. Quintenz has pledged to resign from Kalshi, forfeit his shares, and abstain from involvement in company-related matters for a year if confirmed. Nonetheless, Titus believes these measures fall short of addressing the broader conflict risks. The post Congresswoman Demands Ethics Probe into CFTC Chair Nominee Brian Quintenz Over Kalshi Ties appeared first on TheCoinrise.com .

Source: The Coin Rise