Brian Quintenz's Confirmation Hearing Touches on the Future of Prediction Markets

US President Donald Trump's U.S. Commodity Futures Trading Commission (CFTC) pick Brian Quintenz pledged clear crypto classification in written remarks for a Senate hearing on Tuesday.

Now Offering a 100% Welcome Bonus

Quintenz said he would utilize his experience as head of policy at a16z crypto to shape future regulations around crypto.

Additionally, Quintenz was grilled about the future of gambling prediction markets like Kalshi.  The president's son, Donald Trump, Jr. just happens to be an advisor to that particular prediction market, as is Quintenz for that matter. 

Gambling industry analyst Alfonso Straffon offered his observations after watching Tuesday's hearing.

Am gonna drop below some key transcripts from Brian Quintenz's confirmation hearing from yesterday, specifically those with questions/comments regarding prediction markets/sports betting/gaming/Kalshi, etc...

Booker and Schiff pressed him the hardest imo...

My takeaway is Mr.…

— Alfonso Straffon  (@astraffon) June 11, 2025

"Am gonna drop below some key transcripts from Brian Quintenz's confirmation hearing from yesterday, specifically those with questions/comments regarding prediction markets/sports betting/gaming/Kalshi, etc...

"Booker and Schiff pressed him the hardest imo...

"My takeaway is Mr. Quintenz, if confirmed, is going to let sport event contracts continue until Congress or the Court(s) say otherwise... because he stands 100% behind his interpretation of the CEA:

'"I believe the Commodity Exchange Act is very clear about the purpose of derivatives markets, the purpose of risk management and price discovery, and that events can serve a function in that mandate.'

"Also found it interesting that IGRA was mentioned but not the Wire Act..."

Quintenz told senators the CFTC has a “very clear” mandate to permit the sports event futures contracts despite state and tribal objections.

Unless Congress steps in with a new law, Quintenz said, “I need to abide by the Commodity Exchange Act.”

Tribal Concerns

Dan Bernstein of Sportico writes that "gaming exclusivity is the very right tribes are desperate to preserve in states where sportsbook operators such as DraftKings and FanDuel are banned."

“Nothing in the CEA that I’m aware of prohibits or affects the opportunity of tribes to offer those [prediction market products],” Quintenz said in response to a question from Democrat Sen. Adam Schiff of California, who Straffon also references in his tweet.

President Donald Trump’s agency pick said he would “listen to the concerns of the tribes” raised by Schiff.

“We respect Tribal Nations and their inherent sovereignty,” a Kalshi spokesperson wrote in an email after Quintenz’s hearing. “The Commodity Exchange Act does not restrict Tribes from engaging in gaming activities on their reservations or within the states where they operate, consistent with applicable laws. We have had productive conversations with several Tribes and are hopeful to build collaborative partnerships in the future.”