Failed CFTC chair nominee Quintenz joins prediction market group CPM
Former CFTC commissioner Brian Quintenz, whose nomination to chair the agency failed, has joined the Coalition for Prediction Markets (CPM) as senior adviser. CPM is an industry advocacy group whose members include Kalshi, Crypto.com, Coinbase, Robinhood, and Underdog. Quintenz brings prior CFTC experience to the group's efforts as prediction market platforms expand their regulatory footprint and product offerings. The move places a former regulator inside the industry's leading Washington-facing organization.
CPM gains a former insider who knows how CFTC commissioners think and vote. For Kalshi, Coinbase, and the group's other members, that means sharper comments on agency rulemakings and better intelligence on enforcement timing. Quintenz's failed chair bid still leaves him with Senate relationships that can unlock hearings and stalls on hostile bills.
The platforms need that firepower now: a bipartisan Senate bill would ban sports event contracts outright, while Minnesota's felony ban and New York's enforcement win against Kalshi are cracking the preemption shield. CPM was already outgunned by sports league lobbying; Quintenz's arrival narrows the talent gap but does not close it before the August Minnesota effective date.