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A Nevada lawmaker is pressing the Commodity Futures Trading Commission (CFTC) to investigate whether its chair nominee, Brian Quintenz, has crossed ethical lines due to his ties to Kalshi, a regulated prediction market platform. The request comes from Rep. Dina Titus, who represents Las Vegas and co-chairs the Congressional Gaming Caucus.
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In a letter to CFTC Acting Chair Caroline Pham, Rep. Titus called for an internal review into whether Quintenz has violated federal law or ethical rules by engaging in matters related to Kalshi. The letter notes that Quintenz, nominated again earlier this year to lead the agency, holds financial interests in Kalshi and sits on its board—a potential conflict given the CFTC’s role in regulating the platform.
“Specifically, I request that you release all relevant communications from or about Mr. Quintenz related to prediction markets and event contracts,” Titus wrote.
She also highlighted that since Quintenz’s nomination, the CFTC has approved new prediction platforms, closed investigations, and settled lawsuits—some involving Kalshi or affecting its competitors. Titus suggests these actions may have been influenced by his position or connections.
Titus is questioning whether Quintenz has stayed true to a written ethical pledge he made to the agency. In that pledge, Quintenz said he would stay away from Kalshi matters for one year. However, a recent Freedom of Information Act request revealed he may have sought out information on Kalshi’s competitors before his nomination was announced.
“While I hope Mr. Quintenz is following the law and his own ethical pledge, unfortunately this agency has already proven not to be transparent,” Titus wrote. She pointed to the CFTC’s decision to cancel a previously announced public roundtable and its lack of response to her own petition concerning betting contracts on sporting events.
Titus’s letter also raises concerns about Kevin Webb, a close associate of Quintenz and potential chief of staff should Quintenz become chair. She wants access to all internal and external discussions Quintenz has had with Webb regarding prediction markets and Kalshi.
“As the Senate considers Mr. Quintenz’s nomination to chair this important agency, 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 added.
Quintenz’s nomination, submitted by former President Donald Trump, has hit roadblocks in the Senate Agriculture Committee, which postponed votes on his appointment twice over the past month. His prior term as CFTC chair during the Trump administration ended in 2021.
Titus, who has publicly criticized prediction markets as “illegal gambling,” remains skeptical that Quintenz can fairly regulate an industry he profits from.
Titus is also leading the charge against a recent tax provision, tucked into President Trump’s “One Big Beautiful Bill,” set to take effect in 2026. The law reduces the ability of gamblers to deduct losses—allowing only 90% of losses to offset winnings—forcing some to pay tax on so-called “phantom income” even when they broke even
She introduced the FAIR BET Act, aiming to restore the full 100% deduction of gambling losses. She argued the cap unfairly targets both everyday gamblers and professional bettors—and could push the industry toward offshore markets or prediction platforms
Senate Republicans blocked a repeal attempt led by Senator Catherine Cortez Masto, leaving reimbursement concerns unresolved for now. Titus has said: “No one should have to pay taxes on money they didn’t win”—and continues to gather bipartisan support for her fix.