Kalshi Board Member Brian Quintenz has been nominated by the current US President to chair the Commodity Futures Trading Commission (CFTC). It’s a move that will certainly bring positive changes for the event contract business by bringing a most friendly face into a most powerful position.
Quintenz was nominated for this same position in 2016 by the Obama administration in 2016, but that nomination was iced when Obama left office in 2017. He was re-nominated by the President who took office in 2017 and served as CTFTC Chairman until 2021. Before accepting that position, Quintenz built a strong background in the investment world, where he is regarded as a cryptocurrency expert. His previous employers include firms like Hill-Townsend Capital, Saeculum Capital Management, Andreessen Horowitz and, of course, Kalshi.
Quintenz announced his nomination in a social media post saying, “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.”
Current Acting CTFC Chair Caroline Pham, who is also considered a friend of the events trading industry, praised Quintenz’s nomination on LinkedIn saying, “I congratulate my friend Brian Quintenz on his nomination for CFTC Chairman. I worked with Brian on important initiatives that he led to success as a CFTC commissioner. He will do the same for crypto and innovation. I look forward to supporting Brian and his leadership at the CFTC, and continuing to deliver on the Administration’s agenda to promote economic growth and American competitiveness.”
Quintenz still needs Congressional approval of his nomination, but that is expected to be a smooth process.