Politico: Quintenz Out As CFTC Nominee
A new report says Brian Quintenz is out as the nominee to chair the Commodity Futures Trading Commission. That means we’ll be getting a new pick to lead the agency in charge of prediction markets like Kalshi.
Politico reported that Quintenz will no longer be the nominee:
The White House withdrew Brian Quintenz’s nomination to be a board member and chair of the Commodity Futures Trading Commission late Tuesday, according to two people granted anonymity to discuss the decision ahead of a public announcement.
The body has a key role in regulating cryptocurrency. In July, crypto investors Tyler and Cameron Winklevoss pressed President Donald Trump to reconsider his nomination to lead the small but powerful Wall Street regulator that helps oversee the $4 trillion market.
Quintenz’s nomination has been in limbo for two months. After a hearing in front of the Senate Agriculture Committee, he never got a vote to send his confirmation to the full Senate. Reports started surfacing that the White House was looking at alternative nominees, meaning his days were likely numbered.
Quintenz is a board member at Kalshi and presumably will retain that position.
Reports have noted these possible candidates to replace him:
Michael Selig, chief counsel of the SEC’s crypto task force.
Tyler Williams, a Galaxy Digital executive and the digital asset advisor to Treasury Secretary Scott Bessent.
Josh Sterling, the former head of the CFTC’s Market Participants Division and a current partner at Milbank. Milbank represents Kalshi in court cases around the country regarding the prediction market’s legality.
PayNearMe has developed the gaming industry’s first platform that is purpose-built to dramatically improve the end-to-end payment experience. It enables operators to manage the entire payment journey, for all major forms of payment and through the most popular channels. With PayNearMe, operators gain full control of the payment flow, promoting acquisition, retention and efficiency. One platform, one integration—built to solve gaming’s toughest payments problems.