PANews reported on August 5th that, according to The Block, Nevada Democratic Representative Dina Titus wrote to CFTC Acting Chair Caroline Pham, requesting an investigation into CFTC nominee Brian Quintenz. Quintenz is awaiting a nomination vote by the Senate Agriculture Committee, which has been canceled twice in the past month, with the second cancellation at the White House's request. Some crypto industry professionals have expressed concerns about Quintenz's nomination, with Titus pointing out his controversial board membership at Kalshi, a prediction markets company. Although Quintenz claimed he would resign after confirmation, doubts remain. Additionally, experts have requested through the Freedom of Information Act to discover that one of Quintenz's partners may have sought non-public information from the CFTC about the approval process for one or more "designated contract markets" that would compete with Kalshi if approved.
Earlier this year, Trump nominated Quintenz to lead the CFTC, an agency crucial in cryptocurrency regulation. If Quintenz is elected, he would join the CFTC during a leadership transition. Titus emphasized that the public needs a comprehensive understanding of his involvement in regulatory areas of interest, expressing concerns about his ability to comply with ethics and conflict of interest regulations.
