Warren maps out a hard-charging banking agenda as Democrats seize committee gavels

What Warren wants to move first

Sen. Elizabeth Warren, the Massachusetts Democrat, is set to lead the Senate Committee on Banking, Housing and Urban Affairs in January. A Warren banking committee aide, speaking anonymously because the plan is not yet public, said she wants to put affordability front and center.

On her to-do list: impose limits on credit card APRs; build on her 21st Century Road to Housing Act via new bills to boost affordable home construction; and reduce medical, consumer, and student debts. Each item falls under the panel's wide remit, covering federal monetary policy, the banking system, and export controls.

Guardrails for AI and prediction markets

The aide said Warren intends to further restrict shipments of advanced AI chips to China, while shaping domestic rules for artificial intelligence. She also wants to rein in prediction markets, seeking to end what an aide called a "Wild West-style" lack of oversight.

Warren and Utah Republican Sen. John Curtis previously sent letters to Kalshi and Polymarket requesting information on protections for election-focused markets.

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Subpoenas, scope and who could be in the hot seat

Democrats' strong midterm showing means they control committee gavels, which lets them dictate the House and Senate legislative calendar and to compel testimony under oath via subpoenas. The aide said Warren is planning an aggressive oversight push with a wide lens on private industry.

She called on tech CEOs, federal officials, and Wall Street leaders to retain all records. According to the aide, tech leaders, federal officials, Trump family cryptocurrency businesses and top figures on Wall Street should be ready to answer the committee's questions.

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