State of the Union Summary: Quintenz Plans Resignation from Kalshi Board Post-Confirmation, Aces Confirm BetMGM Partnership, and Additional Updates

**Quintenz to Resign from Kalshi Board if Confirmed as CFTC Chair**

After a period filled with speculation about his ties to Kalshi, Brian Quintenz has publicly addressed the issue. Quintenz, who serves on the board of directors for Kalshi, has declared his intention to resign from the board if he is confirmed as the chairman of the US Commodity Futures Trading Commission (CFTC). Kalshi, a notable prediction market, has been actively seeking regulatory clarity from the agency regarding sports event contracts. Nominated by US President Donald Trump in February, Quintenz, a member of the Republican Party, is poised to take on this significant role.

In a letter to John Einstman, Deputy Counsel at the CFTC, Quintenz disclosed his current financial interests in Kalshi, which include unvested stock options that vest monthly. He further stated that, upon confirmation, he would divest his options within a timeframe not exceeding 90 days.

“The purpose of this letter is to outline the measures I will undertake to prevent any real or perceived conflicts of interest should I be confirmed,” Quintenz emphasized in his communication. He also acknowledged the importance of adhering to the commitments specified in this agreement.

Quintenz, who previously held a position as a commissioner at the CFTC, drafted this letter before a scheduled conference call between the CFTC and a group of tribal gaming entities. This call, set for Thursday, follows a submission by the tribal groups in February expressing their concerns over federal regulations on sports derivatives, which they believe could threaten tribal sovereignty.

**WNBA’s Las Vegas Aces Establish Partnership with BetMGM**

Three years following their inaugural championship, the WNBA’s Las Vegas Aces have announced a partnership with a prominent US sportsbook, BetMGM. The partnership, established on Tuesday, appoints BetMGM as the exclusive online casino and sportsbook partner for the Aces, marking a significant milestone as BetMGM’s first alliance with a women’s professional sports team.

Under the partnership, BetMGM will obtain commercial inventory during nationally televised games, rights to co-branded content on various digital platforms, and WNBA tickets for VIP clients. “This initiative exemplifies the great outcomes of merging business, sports, and community,” commented Nikki Fargas, president of the Aces.

Games for the Aces are hosted at the Michelob ULTRA Arena situated within the Mandalay Bay Resort and Casino, which features a substantial BetMGM sportsbook. BetMGM also announced plans to soon launch a WNBA-themed online slot game, a first for the company, aligned with the areas where its iGaming platform is operational. This partnership is set to continue through 2027.

“As we witness significant growth in women’s sports, partnering with the WNBA and the Aces couldn’t be more perfect,” stated Adam Greenblatt, CEO of BetMGM. “Not only do the Aces play near us at Mandalay Bay, but they are also committed to community engagement.”

**Indiana to Lift ‘Duplicative’ Sports Betting Regulations**

Shortly after assuming office, Indiana Governor Mike Braun signed two executive orders to cut or eliminate burdensome costs impacting small businesses. Building on these orders, the Indiana Gaming Commission (IGC) is now preparing to reduce licensing requirements for sports wagering registrants starting July 1.

The IGC plans to remove the mandate stipulating that sports wagering operators must solely conduct business with licensed sports registrants. This amendment is anticipated to significantly lower costs for the industry, particularly impacting payment processors, marketing firms, and manufacturers of sports wagering systems.

Furthermore, the IGC will also remove the state’s sports wagering registrant licensure requirement and related fees. Since 2020, the fees collected have averaged around $60,000 annually.

**DraftKings Now Sole Defendant in MLB Players Union Suit**

After reportedly reaching settlements with most sportsbook operators in a protracted dispute over names, images, and likenesses, the MLB players union now faces only one obstacle: DraftKings. Last September, MLB Players Inc. instituted legal proceedings against DraftKings and Bet365 in a federal court.