Rep. Dina Titus Demands Probe Into CFTC Chair Nominee Over Kalshi Ties

Rep. Dina Titus has called for an investigation into Brian Quintenz, the nominee for U.S. Commodity Futures Trading Commission (CFTC) chair, over concerns related to his ties with Kalshi, a prediction market platform. In a letter addressed to CFTC Acting Chair Caroline Pham on August 4, 2025, Titus questioned whether Quintenz had violated CFTC policies, federal statutes, or his own ethical pledges, particularly regarding his board membership and stock ownership in Kalshi [1]. Titus, representing Nevada’s First District and co-chairing the Congressional Gaming Caucus, emphasized the need for transparency due to potential conflicts of interest that could undermine the impartiality of the CFTC [1].

Quintenz has acknowledged the concerns and stated that he would resign from Kalshi’s board if confirmed as CFTC chair. However, Titus and others remain skeptical, noting that his financial interests in the company may conflict with his regulatory duties. Industry figures, including Gemini co-founders Tyler and Cameron Winklevoss, have also raised concerns about Quintenz’s agenda in the crypto space. Tyler Winklevoss stated that many in the crypto community have “serious concerns with his nomination” [1].

The scrutiny has further delayed Quintenz’s confirmation process. His Senate Agriculture Committee vote has been postponed twice in recent weeks, with the committee citing a White House request as the reason for the latest delay [1]. This comes amid broader regulatory uncertainty in the digital asset sector, where the CFTC is expected to play a key role in shaping the legal framework. The agency is currently undergoing a leadership transition, with four of its remaining commissioners having either resigned or announced plans to leave, raising concerns about how it will operate during this pivotal period [1].

The controversy has also been fueled by findings from Dustin Gouker, a prediction market expert, who obtained troubling communications via a Freedom of Information Request Act. Gouker found that a Quintenz associate had sought non-public CFTC information about the approval process for “designated contract markets,” which could pose a direct challenge to Kalshi. While Gouker noted that such communications are not uncommon during agency transitions, questions remain about whether Quintenz should have had access to such data while still serving on Kalshi’s board [1].

Titus’s letter underscores the importance of ethical standards in regulatory positions. She argued that as a future CFTC chair, Quintenz must demonstrate that he can regulate a sector in which he has a direct financial stake without compromising his impartiality. “It is imperative that the public fully understand the extent of his involvement,” she stated, expressing concern that he may fail to uphold conflict-of-interest regulations [1].

Quintenz was previously a CFTC commissioner under the first Trump administration and was nominated by President Donald Trump earlier this year. As lawmakers seek to expand the CFTC’s authority over the digital asset industry, the agency’s leadership will play a crucial role in determining the direction of regulatory policy. The current uncertainty surrounding Quintenz’s nomination could affect institutional investor confidence, as the lack of clear regulatory guidelines may lead to hesitation in market participation [1].

The CFTC has yet to respond to requests for comment on the allegations [1].

Source: [1] Rep. Dina Titus urges probe into CFTC chair nominee Brian Quintenz over prediction market ties (https://www.theblock.co/post/365535/rep-dina-titus-urges-probe-into-cftc-chair-nominee-brian-quintenz-over-prediction-market-ties)