Sen. Elizabeth Warren (D-Mass.) campaigns with Michigan Democratic Senate candidate Dr. Abdul El-Sayed at Eastern Michigan University November 2, 2026, in Ypsilanti, Michigan.
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Sen. Elizabeth Warren is set to take over as chair of the Senate Banking Committee. The Massachusetts Democrat is already charting the panel’s direction.
Among Warren’s top issues for Congress that meets in January are the cost of living, strengthening export controls on advanced artificial intelligence chips to China and enacting regulations for prediction markets, according to an aide to Warren’s banking committee. The aide spoke on condition of anonymity to discuss the yet-to-be-announced agenda. Warren is also preparing an aggressive surveillance program and has urged tech CEOs, administration officials and Wall Street executives to preserve their documents, her aide said.
Democrats’ dominant victory in last week’s midterm elections gives them control of the committee gavels on Capitol Hill. This comes with the ability to set the legislative agenda for the House and Senate and the power of subpoena to compel government officials and business leaders to testify under oath. The Committee on Banking, Housing, and Urban Affairs has a broad mandate, including jurisdiction over federal monetary policy, banking, and export controls.
Warren’s plans to tackle affordability include capping credit card interest rates, following up her Road to 21st Century Housing Act with additional legislation to build more affordable housing and reduce medical, consumer and student debt.
The aide said Warren also intends to place constraints on AI chips destined for China, while developing rules for AI at home.
Warren also seeks to end the “Wild West-style” lack of oversight in the prediction market business, the aide said. She and Utah Republican Sen. John Curtis have already written to Kalshi and Polymarket demanding information on safeguards regarding election-related markets.
The Banking Committee will also likely be the focus of Democrats’ oversight agenda, which is expected to reach broadly into the private sector. Warren said tech CEOs, administration officials, Trump family cryptocurrency businesses and Wall Street executives should prepare to answer questions from the committee and preserve their documents, the aide said.
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