Trump Picks Kalshi Director Quintenz to Lead CFTC

• Selection seen as boon for prediction markets’ regulatory outlook
• Quintenz is a leading authority on the intersection of crypto and policy

President Trump has nominated Kalshi board member Brian Quintenz to lead the Commodities Futures Trading Commission (CFTC) — a move seen as a potential plus for prediction market operators’ regulatory fortunes.

Quintenz, a former CFTC commissioner, confirmed the nod on X (formerly Twitter). He was initially nominated to the commission in 2016 by President Obama, but Congress didn’t sign off on that nomination before Obama left office. Trump re-nominated him the following year.

It is my great honor to be nominated by President Donald Trump as the next Chairman of the Commodity Futures Trading Commission, where I had served as a Commissioner in his last administration. The CFTC plays a critical role in maintaining robust hedging and price discovery,” Quintenz wrote on X.

In 2022, Quintenz joined venture capital firm Andreesen Horowitz as the head of global cryptocurrency public policy. Andreesen and co-founder Ben Horowitz backed Trump in the 2024 presidential election. Prior to that, Andreesen had a long history backing Democrat presidential candidates, including each one from Bill Clinton through Barrack Obama.

Quintenz Appointment Could Be Latest Boon for Kalshi

Founded in 2018 by Tarek Mansour and Luana Lopes Lara, Kalshi isn’t an old company, but it’s already had its share of run-ins with regulators, namely the CFTC which sought to halt the firm’s offerings of derivatives on domestic political contests.

Quintenz being named to chair the CFTC also comes against the backdrop of Kalshi expanding its reach. Earlier this month, crypto and equities trading platform Robinhood (NASDAQ: HOOD) announced a partnership to offer Super Bowl derivatives though that plan was delayed to comply with a review request by the commission.

Earlier today, Webull, another trading platform, said it’s working with Kalshi to bring event contracts to its clients. The two companies said the official rollout is expected in the coming weeks.

Quintenz Appointment Could Be Meaningful for Prediction Markets

The Senate has yet to approve Quintenz, but that chamber is controlled by the Republicans, implying there’s little chance he won’t be confirmed. Kalshi, its partners, and competitors are obviously cheering for confirmation while traditional gaming companies may be on the other side.

The reasoning is simple. As prediction market operators expand and ink more deals with trading houses, their client base is likely to follow suit. That’s relevant because event contracts are available to Kalshi clients in all 50 states — a luxury not possessed by sportsbooks. Sports wagering is allowed in 38 states and Washington, DC with Missouri scheduled to join that list later this year.

Some gaming companies signaled they’re not taking the competitive threat lightly. BetMGM CEO Adam Greenblatt recently said the operator is monitoring the event contracts space. Entain, which holds a 50% stake in BetMGM, has some experience in that arena in Europe.