Sen. Elizabeth Warren (D-Mass.) is reportedly expected to chair the Senate Banking Committee starting in 2027. If that happens, she would go from ranking member to the person holding the gavel, and with it a fairly wide set of tools to investigate prediction markets and cryptocurrency firms.

Subpoena Power and a Long List of Targets

Warren could use the committee's subpoena powers to investigate alleged insider trading involving prediction markets, the Wall Street Journal reported, citing people familiar with the matter. She could also examine consumer-protection practices at cryptocurrency companies.

That's not the whole list. Warren may also scrutinize "allegations of corruption" involving President Donald Trump and his family, WSJ added.

The report mentioned that she, along with Sen. Richard Blumenthal (D-Conn.) and Rep. Maxine Waters (D-Calif.), may "aggressively investigate" the cryptocurrency industry and its ties to those in Trump's orbit.

One caveat: Warren's appointment has not been finalized. Still, Senate watchers reportedly see the chance of a competing bid as "unlikely." Warren's team didn't immediately return MarketDash's request for comment.

Months of Criticism Precede the Expected Role

Warren's expected committee role follows months of criticism aimed at Trump's cryptocurrency interests and regulatory policies.

Earlier in March, she accused Trump of reducing enforcement on cryptocurrency and prediction markets to benefit firms linked to his family.

Warren has been one of the fiercest critics of Trump family-linked cryptocurrency businesses, including the Official Trump (CRYPTO: TRUMP) and the World Liberty Financial platform.

She was also critical of the CLARITY Act, arguing it ignores conflicts of interest arising from Trump and his family's crypto ventures.

So the short version: a senator who has spent months arguing that crypto enforcement has been softened for the benefit of the president's family may soon be in a position to ask questions under oath. That's the kind of thing the industry tends to notice.