Senator Elizabeth Warren is set to become chair of the Senate Banking Committee in early 2027 and has signaled a push for tighter control of prediction‑market platforms, according to a report from Bitcoin Magazine. The move follows the Democrats’ recent control of both houses of Congress and places Warren at the helm of a committee that oversees banking, housing, the Federal Reserve and cryptocurrency matters.

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Update, Nov 11, 18:40 UTC: According to Bitcoin.com, a CFTC settlement required Kalshi to pay $173,539 and barred it from trading for three years following allegations that a former Trump aide used insider information to bet on speeches. The report also notes that World Liberty Financial received a conditional national‑trust bank charter from the OCC in August 2026 for its USD 1 stablecoin, which Warren may revisit. Warren’s interview with the New York Times on Nov. 10 was cited, where she said the crypto industry has had 18 years to demonstrate a positive use case.

Update, Nov 11, 00:44 UTC: According to Decrypt, Warren’s agenda also targets Nvidia CEO Jensen Huang, with Nvidia’s board launching an independent probe after Chinese intelligence concerns and the stock falling up to 8%, erasing about $350 billion in value. Reuters reported she may investigate the Office of the Comptutor of the Currency’s conditional charter for Trump‑backed World Liberty Financial, a crypto venture linked to the president.

Planned investigation of election‑betting platforms

Warren’s staff outlined a strategy to deploy the committee’s investigative authority to examine prediction‑market sites for possible insider trading and market manipulation, a focus she began addressing before the 2022 midterm elections. In late October, Warren and Republican Senator John Curtis sent letters to Kalshi CEO Tarek Mansour and Polymarket CEO Shayne Coplan requesting information on how the firms block candidates, campaign staff and others with non‑public material information from trading election contracts. The correspondence referenced instances of candidates betting on their own races, including a February 2026 California gubernatorial contest, and cited research suggesting wash‑trading and volume manipulation on Polymarket.