Report: Kalshi Lawyer Being Potentially Vetted as CFTC Chair
By Robert Linnehan in Uncategorized
Published:
- A new report notes the White House is vetting Josh Sterling, a lawyer for Kalshi, as chair of the Commodity Futures Trading Commission
- Elanor Mueller, a reporter for Semafor, broke the news
- Sterling is reportedly the latest candidate to chair the CFTC after Brian Quintenz’s nomination stalled
According to a report, a new candidate to chair the Commodity Futures Trading Commission is now in the mix.
The White House is reportedly vetting Kalshi lawyer Josh Sterling as a potential candidate to chair the Commodity Futures Trading Commission (CFTC), according to Elanor Mueller, a congressional reporter for Semafor.
Sterling is the latest potential candidate to chair the CFTC after Brian Quintenz’s nomination stalled in the late summer.
Proponent of Sports Event Contracts
Sterling a lawyer at Milbank LLP, an international law firm, has represented Kalshi on a number of occasions. Sterling briefly made news in July after InGame reported comments he made at the National Council of Legislators from Gaming States summer meeting in which he said if people excessively lose money on sports event contracts it’s “on them.”
“People are adults, and they’re allowed to spend their money however they want. And if they lose their shirt, that’s on them,” Sterling said at the meeting. “I mean, that would be obvious, right?”
Sterling is a proponent of sports event contracts being offered by CFTC-registered exchanges. Whoever chairs the CFTC will have an intricate hand in determining what types of prediction market contracts are regulated by the federal government.
Mueller reported the news this week.
Sterling is the second CFTC Chair candidate with ties to Kalshi. Quintenz, the presidential nominee to chair the commission, is a former CFTC commissioner who currently sits on the board of Kalshi, but his nomination process has stalled out as of the summer.
The Senate Committee on Agriculture, Nutrition, and Forestry was scheduled to vote on his nomination in late July, but the vote was delayed and never rescheduled.
At the time of the delay, Lydia Beyoud, a reporter for Bloomberg, noted on X that Quintenz was still Trump’s pick to head the CFTC, but the Senate Committee on Agriculture, Nutrition, and Forestry did not give an official reason for delaying the vote.
She also helped report on the new potential nominees for the CFTC chair.
Two Other Nominees With Crypto Experience
Additionally, two other nominees are being vetted for the position by the White House.
According to Bloomberg, two new candidates with crypto experience are being explored as potential nominations for the position.
One is Michael Selig, chief counsel to the Securities and Exchange Commission’s crypto task force. Selig previously was a partner in Willkie Farr & Gallagher’s asset management practice.
Another potential candidate is Tyler Williams, counselor to Treasury Secretary Scott Bessent on digital asset policy. According to Bloomberg, Williams joined the treasury from Galaxy Digital, a digital assets investment company.
Regulatory Writer and Editor
Robert Linnehan covers all regulatory developments in online gambling and sports betting. He specializes in U.S. sports betting news along with casino regulation news as one of the most trusted sources in the country.
