Senate Committee Finally Schedules Nomination Hearing For Quintenz
At long last, U.S. President Donald Trump’s nominee head the nation’s derivatives regulator will receive his day on Capitol Hill.
The Senate Committee on Agriculture, Nutrition, and Forestry announced that it will hold a confirmation hearing June 10 for Brian Quintenz, Trump’s nominee to serve as chairman of the Commodity Futures Trading Commission.
The hearing will be closely watched across the sports betting industry as the future of prediction markets hangs in the balance. Top industry lobbyists have expressed concerns that the rise of prediction markets could present an existential threat to the legal online gaming industry. Furthermore, MGM Resorts CEO Bill Hornbuckle told GGB that if the states do not proceed correctly, the markets could be the “concrete” that sets the groundwork for federal regulations in online gambling.
Quintenz, a former CFTC commissioner, remains a member of Kalshi’s board of directors. Last month, however, Quintenz disclosed that he will resign from the board if his nomination is confirmed. The CFTC has been beset with turnover at the commission level. As of June 5, every CFTC commissioner has either departed from the agency or has announced plans to leave this year.
NJ Senate Passes Bill Banning Sports Betting Partnerships with Public Universities
A New Jersey bill that aims to prohibit partnerships between sports betting operators and state public universities cleared through the state Senate without a hitch.
Sponsored by Sens. Joe Cryan and John McKeon, the legislation seeks to ban contractual agreements between sports betting companies and New Jersey institutions of higher education, including the athletic departments at those schools. At the same time, the bill would prohibit agreements between booster clubs and sportsbook operators that would otherwise allow for advertisements or promotions for gambling services.
“The proliferation of sports betting by college students is a troubling trend that can have a destructive and long-lasting impact on their lives,” said Cryan in a statement.
New Jersey already bans wagers on collegiate sports events that are held within state lines. As a result, fans were not allowed to bet on the NCAA East Regional in March.
The bill, S-2155, passed unanimously June 3 by a vote of 38-0. The measure also passed unanimously in the House, winning approval in a 75-0 vote. The bill heads to the desk of Gov. Phil Murphy for his signature.
At the moment, Louisiana is considering a bill that would divert a portion of a sports betting tax increase to an NIL collective to fund athletic participation at public universities across the state. Last August, an Arkansas group floated an initiative for an online 50-50 raffle that would earmark a portion of its proceeds to an NIL fund.
McCullers Brushes Off Social Media Threats For First Win Since 2022
Since leading the Houston Astros to a historic 18-inning win in the 2022 MLB postseason, Lance McCullers Jr. has dealt with the most trying period of his professional career.
Battling through a muscle strain and a bone spur in his pitching arm, McCullers went 915 days between starts before his return to the mound this May. In his second start back, McCullers struggled with his command, lasting only one-third of an inning in a 13-9 loss to the Reds. The right-hander gave up seven runs in the inning.
Later that month, McCullers revealed that he received menacing threats on social media, including ones targeting his children. Amid threats from an intoxicated bettor to stab McCullers’ kids, the Astros hired 24-hour security to protect his family. While no charges have been filed, according to the Houston Police Department, the overseas individual responsible for the threats has apologized to McCullers’ family.
“I understand people are very passionate and people love the Astros and love sports, but threatening to find my kids and murder them is a little bit tough to deal with,” McCullers told reporters.
On June 3, McCullers outdueled Pirates phenom Paul Skenes in a 3-0 victory. McCullers scattered two hits over six innings for his first win since Sept. 21, 2022. Since dealing with the threats, McCullers has only allowed five earned runs in four starts for a sparkling ERA of 2.21.
McCullers is not the only MLB player who has dealt with perilous social media threats over the last month. Following a May loss to the Mets, Red Sox reliever Liam Hendriks wrote on Instagram that he dealt with threatening comments on the internet.
A survivor of non-Hodgkin lymphoma, Hendrik noted that he received comments from users wishing that he died of cancer. Also this week, FanDuel banned a bettor who taunted U.S. runner Gabby Thomas at an event in Philadelphia.
Pacers Enter NBA Finals With Steep Odds
While en route to Oklahoma City for the NBA Finals, severe weather delayed the Indiana Pacers’ trip by several hours.
The Pacers first had to divert their flight to Tulsa, before waiting a few more hours for the inclement weather to clear. Indiana, however, has overcome longer odds in reaching the finals for the first time in 25 years.
Rick Carlisle’s team opened the season with odds of 50/1 to win the title, odds that were more remote than 14 others league-wide. Despite finishing with the NBA’s second-best record after the All-Star Game, the Pacers entered the playoffs with odds of 60/1, as top books gave Tyrese Haliburton and company little chance of making it out of the East. Indiana responded by thrashing top-seed Cleveland in five games before sending the Knicks home in the conference finals.
When the finals kicked off June 5, the Pacers faced the 68-win Thunder, a team that has produced one of the highest winning percentages in NBA history. At FanDuel, the Thunder opened with odds of -700 to capture their first title. Led by NBA Most Valuable Player Shai Gilgeous-Alexander, the Thunder are one of the most lopsided favorites in the post-PASPA era.
At Hard Rock Bet at the start of the playoffs, customers took Indiana to win the title on only 1.38 percent of all tickets. Bettors even backed the Pistons at a higher clip. Detroit, which finished with a season-low 14 wins in 2024, was eliminated by the Knicks in the first round.
The Thunder are the biggest NBA Finals favorite since 2018, according to BetMGM’s John Ewing. Per Ewing, only nine teams since 1985 have been favored entering the finals by -700 or more. Ewing cited research from the website Sports History Odds. According to the website, the 2001 Lakers (-2000) have been the largest favorites over the last three decades.
