Rep. Titus Calls for Ethics Probe into CFTC Nominee Brian Quintenz
Nevada Congresswoman Dina Titus is demanding an ethics investigation into Brian Quintenz, President Trump’s nominee to lead the Commodity Futures Trading Commission (CFTC). In a formal letter to the agency, the top Democrat on the Congressional Gaming Caucus raised serious concerns that Quintenz may be violating federal law and his own ethics pledge by improperly influencing the agency before his Senate confirmation.
A “Substantial Financial Interest”
At the heart of the issue are Quintenz’s deep ties to Kalshi, a CFTC-regulated prediction market where he currently serves on the board and holds stock options.
In his official ethics letter, Quintenz pledged he “will not participate personally and substantially in any particular matter that to my knowledge has a direct and predictable effect on the financial interests of [Kalshi].”
The documents indicate Quintenz has sought information about Kalshi’s competitors and may be involved in agency decision-making before he has been confirmed by the Senate.
A Pattern of Non-Transparency
Titus framed her request as part of a broader pattern of non-transparency at the CFTC. She accused the agency of canceling a public roundtable, ignoring her previous petitions, and allowing what she considers to be “illegal gambling” through the trading of event contracts on sporting events.
Her letter also questions the practicality of Quintenz’s promise to recuse himself from matters involving Kalshi for one year. The CFTC is facing a leadership crisis that could leave Quintenz as the sole commissioner, a situation where complete recusal from a major market participant like Kalshi would be nearly impossible.
The Nevada lawmaker is demanding the CFTC release all communications between the agency and Quintenz related to prediction markets. The request also includes communications with Kevin Webb, Quintenz’s expected Chief of Staff, regarding the nominee’s pre-confirmation involvement.
Titus has asked the CFTC’s Inspector General and its Designated Agency Ethics Official to oversee the release of the documents and to formally investigate whether Quintenz has violated any federal laws or agency procedures.
High Stakes for the Gaming Industry
The call for an investigation adds another layer of controversy to an already contentious nomination. Quintenz’s ties to Kalshi have drawn fierce opposition from the American Gaming Association and numerous tribal gaming groups, who fear he will use the CFTC to create a backdoor for federally regulated sports betting that bypasses state laws.
As the Senate prepares to consider the nomination, Titus’s letter puts the issue of potential conflicts of interest front and center. “It is imperative that the public fully understand the extent of his involvement regulating a sector in which he has a substantial financial interest,” she wrote.
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