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Read Full BioRep. Dina Titus has called for further investigation into Brian Quintenz, Donald Trump’s nominee to lead the Commodity Futures Trading Commission (CFTC).
Titus submitted a letter to the current CFTC Acting Chair, Caroline A. Pham, urging further scrutiny of Quintenz’s links with Kalshi.
Quintenz is a current board member of Kalshi and has publicly stated he will resign from his position if elected as CFTC chair, as well as recuse himself from matters involving the company for at least a year.
In the letter, however, Titus notes that, “Despite this pledge, a recent Freedom of Information Act request from The Closing Line indicates that Mr. Quintenz has sought information regarding Kalshi’s competitors and that he may be involved in agency decision-making before his Senate confirmation.”
As a result, Titus wants the CFTC to “release all relevant communications from or about Mr. Quintenz related to prediction markets and event contracts.”
Quintenz Appointment Faces Mounting Opposition
The appointment of Quintenz has been delayed twice already, with the first delay resulting from a senator’s flight delay and the most recent postponement at the request of the White House.
The White House reiterated its support for Quintenz, with spokesperson Liz Huston stating: “Brian Quintenz remains President Trump’s nominee to serve as chairman of the CFTC.”
“He will help execute President Trump’s mission of making America the crypto capital of the world, and we look forward to his swift confirmation.”
However, not everyone agrees. The Winklewoss twins, famous for their involvement in the founding of Facebook, and billionaires through crypto investments, voiced their opposition to Quintenz.
Tyler Winklewoss is quoted in the New York Post as saying: “His stated positions are not aligned with President Trump and the Administration’s stated goals.”
Quintenz’s Ethics in Question After Emails Released
The Post article followed the release of emails revealing that Quintenz’s associates had tried to obtain information related to markets overseen by the CFTC.
The article goes on to quote several other sources close to the White House that oppose the appointment.
One source told The Post: “Senators are concerned because they don’t want to face criticism over ethical issues, which could fuel Democratic campaign ads in the next midterm. I don’t know if he’ll be confirmed, but the emails certainly aren’t helping.”
The criticism over ethics posed by Titus, a Democrat, shows that the senators’ concerns are not unfounded.
Titus Calls for Reversal of Trump’s Big Beautiful Bill
Titus has also led opposition to an amendment in Trump’s Big Beautiful Bill, which changes the amount of losses gamblers can claim back before paying tax.
She introduced the FAIR BET Act, which will reverse the tax change and allow bettors to continue deducting all losses from winnings before paying any tax on the remaining profit.
There are no immediate plans for a full vote on either the FAIR BET Act or Quintenz’s appointment.
Senators confirmed some appointments before the Senate adjourned for its August recess. With opposition growing against Quintenz, it remains to be seen whether he will be confirmed when the Senate reconvenes in September.
