Former CFTC Commissioner Brian Quintenz Joins Kalshi's Board of Directors
webThis announcement covers Kalshi's appointment of a former CFTC Commissioner to its board, relevant to AI safety governance insofar as prediction markets and event contracts intersect with regulatory frameworks for emerging technologies and risk markets.
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Importance: 12/100press releasenews
Summary
Kalshi announced that former CFTC Commissioner Brian Quintenz joined its Board of Directors in November 2021. Quintenz, nominated by both Presidents Obama and Trump, brings regulatory expertise in futures, derivatives, crypto, and prediction markets. His addition is intended to support Kalshi's regulatory integrity and expansion as a regulated event-contract exchange.
Key Points
- •Brian Quintenz, former CFTC Commissioner, joined Kalshi's Board of Directors in November 2021.
- •Quintenz authored analysis of prediction markets within the CFTC's regulatory ecosystem.
- •He was sponsor of the CFTC's Technology Advisory Committee and advocate for innovation-friendly regulation.
- •His appointment reflects growing institutional interest in event contracts as a new asset class.
- •Kalshi positions itself as a regulated exchange for hedging risk via event contracts.
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Former CFTC Commissioner Brian Quintenz Joins Our Board
Former CFTC Commissioner Brian Quintenz Joins Our Board
By Kalshi Nov 16, 2021
It’s undeniable. We’re experiencing a spike in interest and activity around the futures and derivatives industry coming from many directions - the surge in retail activity, the expansion of crypto and Web3, and the entrance of entirely new asset classes like event contracts. The futures industry is quickly evolving to keep up with the needs of today’s traders and with that velocity of change comes a responsibility to bring the right people into the room.
With this in mind, I’m thrilled to announce that former CFTC Commissioner Brian Quintenz has joined our Board of Directors. Brian is a perfect fit for Kalshi as his career has been marked by decisive leadership in promoting the power of free markets to benefit society, new frontiers of markets and technology, and the economic benefits of hedging risks. He will be key in securing new partnerships to expand Kalshi’s market and will be a sterling ambassador of Kalshi’s brand.
Brian was most recently a Commissioner of the Commodity Futures Trading Commission, having been nominated to the position by both President Obama and President Trump. Brian is a noted luminary on crypto and Defi. While at the CFTC, Brian was the sponsor of the Technology Advisory Committee, and was a leading advocate for sensible and risk-calibrated regulation that ensured safety and stability, but also encouraged innovation and growth. In particular, Brian authored a tour de force analysis of prediction markets and their treatment within the CFTC’s regulatory ecosystem.
It’s been an honor to engage with Brian from the very early days of Kalshi when we were just starting the process of becoming a regulated exchange. Brian’s expertise on Capitol Hill and the Commission perfectly aligns with ensuring our regulatory integrity as well as building the most direct and intuitive exchange for hedging risk and capitalizing on opinions.
Welcoming a board member of Brian’s caliber makes me pause and reflect about how much we’ve built at Kalshi, but more importantly about how much is left to build: his advice and guidance will be extremely valuable as we continue charting our path in new territories.
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