Senate Committee Once Again Delays Vote on CFTC Chair Nominee

After seeming destined to earn legal protection, it appears sports prediction markets may be facing a significant obstacle.

The Senate Agriculture, Nutrition, and Forestry Committee announced that they were once again delaying a vote on Brian Quintenz’s nomination to become the new head of the CFTC. This is the second delay in the last two weeks, increasing the risk that the Senate’s legislative session will end before a full vote can be conducted.

Quintenz’s nomination has been controversial due to his ties to sports prediction markets. The new industry is under fire from tribes and lawmakers from both parties, who believe he will trample state rights and do irreparable damage to their sports betting markets.

Opponents to the new CFTC head’s nomination had hoped the first delay meant Republicans on the committee were reconsidering their vote. However, the committee confirmed the delay was due to one member missing, leaving Republicans one vote shy of approving Quintenz. This led many to believe his nomination was guaranteed to succeed, but that is no longer the case.

According to Bloomberg reporter Yash Roy, Chair John Boozman confirmed that the White House asked him to delay the vote again. 

Are Sports Prediction Markets in Trouble?

It seemed like the nomination of Quintenz was inevitable, given the reason for the first delayed vote. With the second delay being requested by the White House, the nominee’s approval seems far from sage.

There are several possible reasons why the White House wanted to delay the committee vote. While the regulator handles a wide variety of areas, sports prediction markets have been the center of the debate over Quintenz. That has many wondering if the pushback from states, especially those with Republican leadership, is becoming too much for President Trump to ignore.

The White House delay may be more strategic than a sign of any doubts about their nominee. With lawsuits continuing to roll in against operators like Kalshi, federal courts could end up deciding the legal status of prediction markets. This would take pressure off Quintenz’s nomination and help avoid the wrath of angry voters.