Prediction markets are disrupting the gambling industry’s growing sports betting business, and gambling industry lobbyists are worried President Donald Trump’s pick to oversee the Commodities Future Trading Commission won’t do anything about it.
The Trump administration’s nominee to lead the CFTC, Brian Quintenz, is a board member of prediction market giant Kalshi. He’s promised to step down from his role should be confirmed, and is expected to sail through the nomination process, but the gambling industry is antsy over his lack of commitment to review so-called “sports events contracts” offered by prediction market platforms.
