Within the next few hours, we will begin to learn whether President Donald Trump’s Republican Party has managed to retain control of the US Congress, determining his ability to advance his legislative agenda during the final two years of his term.
What the crypto industry needs to know:
- All 435 seats in the US House of Representatives and 35 Senate seats are up for grabs.
- The results could influence the future of US cryptocurrency regulation, including the stalled CLARITY Act, and potentially intensify scrutiny of Trump’s crypto ventures if Democrats gain control of either chamber.
- In the Senate, Democrats and allied independents have secured 43 seats to Republicans’ 31, including seats not up for election. Democrats have won 41 House seats to Republicans’ 18.
- Democrats need 51 Senate seats and 218 House seats to secure majorities in both chambers.
- The Blockchain Association’s election dashboard identifies 62 priority congressional races, including 18 Senate and 44 House contests.
Live election updates
Follow the latest developments in congressional races attracting crypto industry spending, election results and reactions from prediction markets. Cointelegraph is using live election results data from the Associated Press. Updates appear in reverse chronological order.
Nov. 3 at 20:08 ET:
Democratic Senate odds climb above 90%
Prediction markets increasingly favored Democrats taking control of both chambers of Congress on Tuesday evening.
As of 8:05 pm ET, the Blockchain Association’s election dashboard showed Democratic Senate-control odds at 94% on Kalshi and 93% on Polymarket, up from 75% and 75.5%, respectively, earlier in the day. Democratic House-control odds stood at 98% and 99%.
It comes as Democrats and allied independents have secured 42 Senate seats to Republicans’ 31.
Nov. 3 at 20:01 ET:
Democratic senators Markey and Coons win reelection
Massachusetts Senator Ed Markey and Delaware Senator Chris Coons, both Democrats, win reelection, according to the Associated Press.
Markey voted against the GENIUS stablecoin bill in 2025, while Coons has criticized President Donald Trump’s crypto ventures, calling his latest memecoin-holder event “corruption.”
Nov. 3 at 19:57 ET:
Democrat Ossoff retains Georgia Senate seat
Democratic Sen. Jon Ossoff has won reelection in Georgia, beating Republican Representative Mike Collins.
Ossoff expressed support for impeaching Trump in April 2025 over plans to host a private dinner for top holders of the president’s TRUMP memecoin, arguing that the arrangement amounted to selling access to the presidency.
Nov. 3 at 19:41 ET:
1inch sees agencies driving US crypto regulation
Maylea Ma, deputy general counsel at 1inch, said she expects federal agencies to drive the next phase of crypto regulation.
The election could reshape the path forward for the stalled CLARITY Act, but Ma said “real movement” in US digital-asset regulation over the next few years will come from the US Securities and Exchange Commission, Commodity Futures Trading Commission and Treasury, rather than Congress.
Ma said those agencies were increasingly engaging with crypto projects. However, agency engagement does not provide the stability the industry had hoped to secure through legislation.
“The long-term goal, of course, remains a statute that cannot be reversed every time a government changes,” said Ma.
Nov. 3 at 19:09 ET:
CLARITY opponent Wasserman Schultz wins reelection
Democratic Rep. Debbie Wasserman Schultz wins Florida’s 20th Congressional District. Wasserman Schultz voted against the CLARITY crypto market structure bill when it passed the House in July 2025.
Nov. 3 at 19:05 ET:
Democrat Warner retains Virginia Senate seat
Democratic Senator Mark Warner has won re-election in Virginia, defeating Republican challenger Bert Mizusawa. Warner was widely favored to win.
Warner voted against advancing the CLARITY Act in September, arguing that crypto legislation needs safeguards against President Donald Trump personally benefiting from the industry. Warner supports establishing federal rules for digital assets, with his opposition to the bill focused on its ethics protections.
Nov. 3 at 18:00 ET:
First US polls close
The first polls in the US midterm elections closed at 6 pm ET in parts of Indiana and Kentucky. The remaining polls in both states close at 7 pm ET.
Polls also close at 7 pm ET in Georgia and Virginia, followed by Ohio at 7:30 pm ET, where Republican Sen. Jon Husted faces Democrat Sherrod Brown in a race drawing major crypto industry spending.
Nov. 3 at 11:37 ET:
Early voting surpasses 57 million ahead of midterms
More than 57 million Americans had cast ballots as of Monday, with early voting surpassing 2022 levels in several closely watched states, according to the Associated Press.
Current balance of power in the US House and Senate. Source: Blockchain Association
Key crypto races to watch
Ohio Senate: Jon Husted vs Sherrod Brown
In Ohio, Republican Sen. Jon Husted faces Democrat Sherrod Brown, a longtime crypto critic, in a race that has attracted approximately $63 million in crypto industry spending. That includes about $56 million from Fairshake and $7 million from the Winklevoss-backed Digital Freedom Fund, with both groups spending to support Husted or oppose Brown.
Crypto advocacy group Stand With Crypto characterizes Brown as strongly opposed to cryptocurrency, citing 17 statements and his 2024 vote against overturning the SEC’s SAB 121 crypto custody accounting guidance.
Brown was also targeted by crypto industry spending in 2024, when Fairshake affiliate Defend American Jobs spent more than $40 million supporting Republican Bernie Moreno, who defeated Brown in that year’s Senate election.
Nebraska Senate: Pete Ricketts vs Dan Osborn
Republican Sen. Pete Ricketts faces independent challenger Dan Osborn in Nebraska, where crypto political action committee Fairshake had spent nearly $11 million supporting Ricketts, according to an Oct. 27 report by the Washington Examiner.
More recent spending data shows Fairshake-affiliated crypto super PAC Defend American Jobs spent approximately $13.5 million opposing Osborn, according to Federal Election Commission data compiled by Bankrolled as of Nov. 3.
Ricketts, a member of the Senate Banking Committee, has supported cryptocurrency legislation including the CLARITY Act and GENIUS Act. He voted to advance the CLARITY Act out of committee in May and supported an unsuccessful Senate procedural vote on the legislation in September, according to crypto advocacy group Stand With Crypto.
Texas Senate: Ken Paxton vs James Talarico
In Texas, Republican Ken Paxton faces Democrat James Talarico, with the Winklevoss-backed Digital Freedom Fund supporting Paxton, despite both candidates receiving A ratings from crypto advocacy group Stand With Crypto.
Paxton has called for the passage of the CLARITY Act, arguing that clear regulations are necessary to maintain US competitiveness in digital assets. In a June statement, he said the country must become the “crypto capital of the world” and support innovation and growth.
Talarico has similarly called for clear regulations that protect consumers while allowing innovation. As a Texas state representative, he also voted in 2025 to establish a state strategic Bitcoin reserve, according to legislative records cited by Stand With Crypto.
Wyoming Senate: Harriet Hageman vs James Byrd
In Wyoming, Republican Rep. Harriet Hageman faces Democrat James Byrd for the seat being vacated by Sen. Cynthia Lummis, a leading cryptocurrency advocate who is not seeking reelection.
Lummis, who chairs the Senate Banking Subcommittee on Digital Assets, sponsored the BITCOIN Act of 2025 to establish a US strategic Bitcoin reserve and has supported the CLARITY and GENIUS Acts.
Hageman has also backed cryptocurrency legislation, voting to pass the CLARITY and GENIUS Acts in 2025 and the FIT21 market structure bill in 2024. She also cosponsored legislation seeking to prohibit the Federal Reserve from issuing a central bank digital currency, according to Stand With Crypto. The advocacy group lists no documented position on cryptocurrency for Byrd.
Maine Senate: Troy Jackson vs Susan Collins
Maine senator Susan Collins was one of four Republicans to oppose advancing the CLARITY Act in September, expressing concerns over its impact on bank deposits. She now faces Democrat Troy Jackson to defend her seat.
Unlike Collins, Jackson has expressed support for clear cryptocurrency legislation in the run-up to the election. According to Stand with Crypto, which rates Jackson as “very pro crypto”, he called to end the debanking of “lawful crypto businesses, and ensure Americans’ right to self-custody digital assets.”
Crypto super PACs spend millions to influence Congress
Fairshake, backed by Coinbase, Ripple and Andreessen Horowitz, has led the spending through its affiliated super PACs, Defend American Jobs and Protect Progress. In early October, the group announced support for 32 incumbent House candidates, including 19 Republicans and 13 Democrats, all of whom voted in favor of the CLARITY Act in 2025.
Other crypto-aligned groups include the Digital Freedom Fund, backed by Tyler and Cameron Winklevoss, the twin co-founders of crypto exchange Gemini, and Fellowship PAC, which has supported candidates from both parties.
