nextpredict.io/ sources say Brian Quintenz’s planned US Senate Committee nomination vote was pushed back as a delayed flight meant the Republicans did not have sufficient votes to push it through.
The vote to approve the nomination of prediction markets-friendly Quintenz to lead the Commodity Futures and Trading Commission (CFTC) was expected yesterday (21 July), but was delayed at the last minute.
nextpredict.io/ understands Democratic senators on the Senate Committee on Agriculture, Nutrition and Forestry were not satisfied with Quintenz’s answers at the previous 10 June hearing, including his expressed views on how to make the US derivatives regulator bipartisan.
As such, the vote is now expected to break down along party lines, with the Amy Klobuchar-led Democratic senators now moving to vote against the nomination.
The committee chair John Boozman is now expected to call a vote, which according to a Bloomberg reporter’s post on X will take place before the August recess, only once all Republican senators can be present.
Due to senator Cindy Hyde-Smith’s delayed flight, the Republicans did not have enough support to push the nomination through and so delayed the vote.
nextpredict.io/ sources also highlighted how both remaining CFTC commissioners, GOP-appointed Caroline Pham and Kristin N. Johnson, have stated they intend to leave before the end of the year, meaning there will be increased time pressure to approve the new chair.
Donald Trump is expected to push for a new vote, a source said, but other political issues mean the nomination is not the government’s top priority for now.
Major gaming interests oppose Quintenz nomination
Quintenz, as well as being a former CFTC commissioner, is also a Kalshi board member.
The prediction market operator is one of the pioneers in sports contracts and is currently involved in litigation with multiple state gaming regulators over allegations the business is offering illegal gambling, which the company strongly denies.
In a joint letter signed by numerous state gaming organisations, including the American Gaming Association, National Council of Problem Gambling and multiple tribes, Quintenz’s fitness to lead the agency was severely questioned.
The letter said: “During his confirmation hearing before the Committee on June 10, Mr. Quintenz failed to provide meaningful clarity on the controversial issue of sports event contracts in response to questions by members of the Committee.
“We respectfully request that the Committee require the nominee to fully address the concerns raised at the hearing and commit to upholding and enforcing applicable CFTC regulations before moving forward with his nomination.”