A US congressman urged the Commodities regulator to investigate its nominated seat, Brian Quintenz, in his connection with the Malashi, a predicting platform controlled by the CFTC.
Democratic Dina Tito’s representative asked the Commodity Futures Trading Commission that chair Caroline Pham in a letter on Monday to open “an inquiry if Mr. Brian Quintenz violated CFTC policies, any appropriate federal law, or his own ethical promise before his confirmation in the Senate” to lead the agency.
“Specifically, I have asked you to release all related communications from or about Mr. Quintenz related to the prophecy markets and event contracts,” he wrote.
“As you know, Mr. Quintenz is currently on the Board of Mildi and holds stock options in the company.”
A vote on Quintenz’s nomination has recently been -DERAIL, which has been delayed twice in the last month.
Last week, the Senate Agriculture Committee pulled out a planned hearing for nomination On request from the White HouseBut the administration Reported The nomination is still supported.
The congressman demands communications that are released
Tito said a recent request to the Freedom of Information Act suggests that Quintenz “asked for information about Butilo’s competitors and that he may have been involved in the agency’s decision making before his confirmation in the Senate.”
“While I expect Mr. Quintenz to obey the law and his own ethical commitment, this agency has unfortunately proven that this agency is unclear,” he added, saying that the CFTC has ignored the regulations “and the law by allowing trading of event contracts to sporting events illegal gambling.”
Tito asked the CFTC to “release all communications between the agency and Mr. Quintenz related to the commission’s issues in the prophecy markets,” along with any attempts to direct people to “talk to Mr. Quintenz through his private email.”
Tito released concerns about Quintenz in June, Post In X at the time he was “should be asked about his plans for the prophecy market” and if he led the CFTC, “every state’s ability to regulate and the tax play is at stake.”
In February, he was Called Sports predictions are a “backdoor way to allow sports betting in 50 states” ignoring “consumer protections, responsible play, integrity monitoring, and state income and tax regulation policies.”
“Not practical,” Quintenz did not control Blashi as a single commissioner
Tito said the steps Quintenz promised to do if the CFTC chair would not be practical, as he was set to be the only person of the average five powerful commissions that prevented the agency.
Pham said he would leave the agency once Quintenz was confirmed, and the only other current commissioner Kristin Johnson, said in May that he left “later this year” after his three-year term expired in April.
Quintenz said in a letter to the CFTC in May that if appointed to run the agency, he will resign from Malashi – which controlled Through the CFTC as a designated contract market – and lost or ruined his firm shares and would not participate in any objects involving the company within a year after he resigned.
“Mr. Quintenz may have been the CFTC’s only commissioner for hours, it seems impractical to believe that he will not make any decisions involving Moldi for a year, considering the extensive amount of regulation and legal actions about predicting markets,” Tito said.
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“Moreover, regulation preservation has the material benefit to the Malashi,” he added.
Winklevoss twins flip in quintenz
Tito’s letter will come just days after Politico reported On Wednesday that Crypto Exchange Gemini co-founders Cameron and Tyler Winklevoss forced President Donald Trump to reconsider Quintenz’s nomination.
The brothers were reported to be told Trump that Quintenz was inevitable the CFTC and that he was not aligned with the President’s agenda, pointing out Quintenz’s suggestion in a testimony in June that the CFTC’s budget requires strengthening for new responsibilities in regulating crypto.
It was a sharp return from Twins’ Take on Quintenz when he was first nominated by Trump, with Cameron Winklevoss Post In X in February that he was “exactly the leader of CFTC’s needs” while Tyler Winklevoss write The pick is “appropriate” and a “great choice for crypto and for America.”
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