Senate panel delays vote on Quintenz CFTC nomination over attendance, party-line divide

The U.S. Senate Agriculture Committee on Monday abruptly canceled a planned vote on Brian Quintenz’s nomination to lead the Commodity Futures Trading Commission (CFTC), reportedly the result of an absent Republican senator and an anticipated party-line split on the panel.

Quintenz, a former CFTC commissioner and current director at prediction market platform Kalshi, was nominated earlier this year by President Donald Trump to chair the financial regulator. The committee had been expected to advance his nomination, but a flight delay involving Sen. Cindy Hyde-Smith (R-Miss.) reportedly left Republicans without the full attendance needed to offset unified Democratic opposition.

“We will need all 12 Republicans to be present to advance the nomination because it became clear it will be a party-line vote,” a Republican committee spokesperson said, as reported by InGame.

The delay also comes amid mounting resistance from gaming and tribal groups concerned over Quintenz’s permissive stance on prediction markets and sports event contracts, which many view as a form of unregulated gambling.

During his confirmation hearing last month, Quintenz said Native American tribes could seek CFTC approval to offer their own sports markets and suggested the agency might appeal any court decision barring such contracts. That position prompted a coalition of 28 commercial and tribal gaming organizations to send a letter urging the committee to halt the nomination unless Quintenz agreed to a formal CFTC review of these products.

“The lack of action by the CFTC means prediction platforms will continue to offer these sports contracts without the important regulatory guardrails provided by state and tribal regulated sports betting,” the groups wrote.

“Instead of using his confirmation hearing to provide clarity on this issue, Mr. Quintenz implied that if he is confirmed, the CFTC will continue to do nothing to address gaming contracts.”

Signatories included the American Gaming Association, Indian Gaming Association, National Council for Problem Gambling, and National Congress of American Indians.

In contrast, Quintenz has garnered support from the cryptocurrency industry. The Crypto Council for Innovation and Blockchain Association have both endorsed his nomination, citing his regulatory experience and openness to digital asset oversight.

Quintenz pledged in a May ethics letter to divest his shares and resign from Kalshi if confirmed. “I will abide by all applicable ethics statutes and regulations,” he said at the hearing. “I will have a screener in my office to ensure that no matter inappropriately comes before me.”

If confirmed, Quintenz would inherit a short-handed commission. The CFTC, typically comprised of five members, has been operating with only Acting Chair Caroline Pham, who is expected to step down. Three commissioners have already departed, and Kristin Johnson is set to leave later this year.

The delayed vote came the same day that Polymarket announced its $112 million acquisition of QCEX, a newly registered CFTC exchange. The deal is aimed at allowing Polymarket to serve U.S. users following the closure of a Department of Justice investigation into its previous operations.

The CFTC is poised to take on a significantly expanded role, particularly in cryptocurrency regulation. Last week, the U.S. House passed legislation granting the agency broader authority over token trading, including assets like bitcoin and ether.