A U.S. Congresswoman urged the commodity regulator to investigate its nomination chairman Brian Quintenz, with his ties to Kalshi, a CFTC-regulated forecasting platform.
Democratic agent Dina Titus asked Caroline Pham, acting chairman of the Commodity Futures Trade Commission, to open “ask Mr. Brian Quintenz if he violated CFTC policy, any applicable federal regulations, or any moral oath before his own Senate confirmation” in a letter Monday.
“Specifically, I ask you to publish all relevant communications from Mr. Quintendz in connection with the forecast market and activity contract,” she wrote.
“As you know, Mr. Quintenz is currently on the Kalshi board of directors and holds stock options in the company.”
The recent vote for Quintenz nomination has been derailed and has been postponed twice in the past month.
Last week, the Senate Agriculture Committee held a planned hearing At the request of the White Housebut the government It is said that Nominations are still supported.
Congresswoman demands a communication release
Titus said the recent Freedom of Information Act request showed that Quintendz “seeks information about Carsey’s competitors who may be involved in proxy decision-making before Senate confirmation.”
She added: “While I want Mr. Quintendz to abide by the law and his own moral commitment, unfortunately the institution has proven to be opaque.” She said the CFTC ignored regulations “and laws” and that by allowing transactions to be contracted for activities, transactions are illegal gambling sports activities. ”
Titus asked the CFTC to “release all communications between agencies related to the affairs of the Predictive Market Committee and Mr. Quentinz”, including any attempt to guide people to “communicate with Mr. Quentenz through his private email.” ”
Titus’ concerns about Quintenz in June release On X, he “had to ask about his forecast market plans” at the time if he led the CFTC, “every state’s ability to regulate and tax games are under threat.”
In February, she Called The forecast market in sports is a “backdoor way to allow sports betting in 50 states” that ignores “consumer protection, responsible gaming, integrity monitoring, and state tax revenue rules and regulations.”
“unrealistic”
Titus said the steps Quintenz promised to take were unrealistic, as he was supposed to be the only person on the five-person committee that usually directed the agency.
Pham said she would leave the agency once Quintenz is confirmed, while current commissioner Kristin Johnson resigned “later this year” after his three-year term expired in April.
Quintendz said in a letter to the CFTC in May that he would resign from Carsey if appointed as an agency – Regulated The CFTC was designated as the contract market and deprived him of his shares in the company and did not participate in any matters of the company for one year after his resignation.
“Mr. Quintendz may be the only specialist of the CFTC, which seems unrealistic considering that he will not make any decisions involving Kalshi within a year, given the large amount of regulatory and legal actions regarding the forecasting market.”
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“In addition, regulatory inaction has a significant benefit to Carsey,” she added.
Winklevoss twins flip Quintenz
Titus’ letter was a few days after Politico Report On Wednesday, cryptocurrency exchange Gemini co-founders Cameron and Tyler Winklevoss urged Donald Trump to reconsider Quentin’s nomination.
The brothers reportedly told Trump that Quintendz would not have more influence on the CFTC and that he did not align with the president’s agenda, pointing out that Quintendz pointed out in his June testimony that the CFTC’s budget needed to increase its new responsibilities in regulating cryptocurrencies.
This is the first time that Quintenz’s Trump-nominated twins have made a sharp reversal against Quintenz, Cameron Winklevoss release February said on X that he was “completely a leader in CFTC demand” and Taylor Winkelworth Write Draft picks are “what should be” and “a great choice for encryption and the United States.”
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