Warren Puts Prediction Markets, Trump Crypto on Banking Agenda
With Democrats retaking the Senate, crypto's loudest critic will set the agenda in January for the committee that oversees banks, the Fed and crypto.
Sen. Elizabeth Warren will make prediction markets and the Trump family's crypto businesses oversight priorities when she takes over the Senate Banking Committee, a committee aide told The Block.
What's the Scoop?
The Warning: "Big Tech CEOs, Administration officials, Trump family crypto businesses, Wall Street executives, and giant corporations should preserve their documents and prepare to answer tough questions," the aide said. Warren has already sought an investigation into Trump's memecoin and an ethics probe into World Liberty Financial, which House Democrats have also flagged.
Prediction Markets: Warren has pressed Kalshi and Polymarket on election bets and insider trading, and the aide said she wants to end the "Wild West-style lack of oversight in this area, with corrupt insiders profiting." The House is already probing the issue.
Zooming Out: Sherrod Brown is poised to chair Senate Agriculture, which oversees the CFTC, and Maxine Waters House Financial Services, putting Democrats atop all three key crypto panels after last week's sweep.
David Christopher
David is a writer/analyst at Bankless. Prior to joining Bankless, he worked for a series of early-stage crypto startups and on grants from the Ethereum, Solana, and Urbit Foundations. He graduated from Skidmore College in New York. He currently lives in the Midwest and enjoys NFTs, but no longer participates in them.
