A Nevada Congresswoman asked for the Commodity Futures Trading Commission (CFTC) to probe if Chairman nominee Brian Quintenz is jeopardized by his monetary interest in the controversial forecast market trading platform Kalshi.

- Nevada Rep. Dina Titus wants the CFTC to release Chairman candidate Brian Quintenz's communications about prediction outcome markets.

• Titus is worried Quintenz, who's still waiting for Senate approval, won't be impartial on regulative decisions because he's on Kalshi's board.
• Kalshi has actually been in a legal fight with numerous U.S. states.
  
  Rep. Dina Titus sent a letter to CFTC Acting Chairwoman Caroline Pham asking for the commission check out whether Quintenz has a conflict of interest because he serves on the board of Kalshi. Titus, who isn't in favor of Quintenz's election, questioned if he breached federal law, agency treatments, regulations, or his ethical pledge before the Senate verification.
  
  As co-chair of the Congressional Gaming Caucus, I am prompting the @CFTC to investigate @BrianQuintenz, as the Senate considers his nomination for Chair of the CFTC.
  
  Quintenz is currently on the board of Kalshi and holds stock options in the business, which is managed by the ...
  
  "Specifically, I request that you release all appropriate communications from or about Mr. Quintenz related to prediction markets and occasion agreements," Titus wrote in the letter. "As you are conscious, Mr. Quintenz is presently on the board of Kalshi and holds stock alternatives in the company. Kalshi is a Designated Contract Market controlled by the CFTC that provides event contracts connected to sports and other topics.
  
  She added, "Since Mr. Quintenz's election in February, the CFTC has actually taken a number of actions associated with prediction markets that have affected Kalshi and its competitors. This includes settling lawsuits with Kalshi, approving brand-new prediction market platforms, and closing relevant investigations."
  
  Open information
  
  Titus serves Nevada's First District, that includes Las Vegas. She's likewise co-chair of the Congressional Gaming Caucus and spoke up versus the Big Beautiful Bill's new betting tax. Now, she's set her sights on prediction market platforms, which she calls "illegal betting."
  
  In the letter to the CFTC, Titus questioned a recent Freedom of Information Act request that revealed Quintenz pursued information on Kalshi's competitors before his nomination. This came after Quintenz pledged in writing to the CFTC that he would avoid conflicts of interest surrounding Kalshi and have nothing to do with the trading company for one year.
  
  "While I hope Mr. Quintenz is following the law and his own ethical promise, sadly this company has actually already proven not to be transparent, cancelling a formerly revealed public roundtable, neglecting my petition request, and overlooking CFTC regulations and the law by enabling the trading of event contracts on sporting events that are prohibited betting," Titus composed.
  
  Decision-making concerns
  
  The Silver State Congresswoman is worried Quintenz won't be impartial towards Kalshi and prediction outcome markets regarding future regulative choices, so Titus is asking for the CFTC release all of Quintenz's communications on the topic. This includes his personal e-mails and conversations with Kevin Webb, who Titus said is anticipated to be named Quintez's chief of staff if he becomes commission chair.
  
  "As the Senate considers Mr. Quintenz's to chair this crucial firm, it is crucial that the general public fully understand the level of his participation regulating a sector in which he has a substantial monetary interest," Titus composed. "I am worried that as Chair, he will not promote both his own ethical pledge and other laws and policies associated with conflicts of interest."
  
  Quintenz received President Donald Trump's nomination earlier this year, however there's been a problem in the Senate Agriculture Committee, which two times canceled his nomination vote over the last month. Quintenz functioned as CFTC chair in Trump's first administration.
  
  Kalshi under fire
  
  Kalshi burst onto the scene during the 2024 U.S. Presidential Election and came under fire in numerous American states for providing political and sports outcome agreements in all 50. Nevada, Maryland, and New Jersey, in addition to other jurisdictions, tried to stop Kalshi from using sports outcome markets that are comparable and challenge those states' legal, managed, and taxed sportsbooks.
  
  However, Kalshi resisted with several suits. A Maryland judge ruled against Kalshi's preliminary injunction motion last week, the trading platform's first major setback.