Elizabeth Warren to chair US Senate Banking Committee, plans to tighten scrutiny of prediction markets and Trump family crypto businesses

BlockBeats news, November 10 — With Democrats securing control of the Senate following the U.S. midterm elections, Senator Elizabeth Warren is expected to assume the chairmanship of the Senate Banking Committee in January 2027 and intensify oversight of prediction markets and the Trump family's crypto businesses. Warren's committee aides said her priorities will include the cost of living for ordinary Americans, artificial intelligence, prediction markets, potential financial crises, and accountability issues.

Warren previously demanded an investigation into the meme coin issued by Trump, as well as alleged conflicts of interest between his family-backed World Liberty Financial and the UAE and government officials. Regarding Kalshi and Polymarket, she has focused on election betting and insider trading risks, and has required the platforms to explain their safeguards. The aide warned that Big Tech executives, government officials, the Trump family's crypto enterprises, and Wall Street institutions should preserve relevant documents and prepare to face questioning. (The Block)