Warren to Chair US Senate Banking Committee, Vows Tough Scrutiny of Prediction Markets and Trump Family Crypto Business

November 10: According to The Block, US Senator Elizabeth Warren will become chair of the Senate Banking Committee in January next year. Her aides said her priorities will include the cost of living, artificial intelligence, prediction markets, potential financial crises and accountability. With Democrats taking control of the Senate in the midterm elections, Warren will lead the agenda covering banking, deposit insurance, housing, the Federal Reserve and the crypto industry.

Warren has previously taken a hard line on the crypto interests of Trump and his family, calling for investigations into the ethics conflicts related to Trump's memecoin and World Liberty Financial. Her aides said Big Tech CEOs, government officials, the Trump family's crypto enterprises, Wall Street executives and large corporations should preserve documents and be prepared to answer tough questions. Warren has also repeatedly criticized prediction market platforms such as Kalshi and Polymarket, demanding that they explain how they prevent insider trading. Her aides said she wants to end the "Wild West" state of lacking regulation in the sector.