Ahead of the November 3, 2026 U.S. midterm elections, prediction markets favored Democrats to win Senate control, which would position Senator Elizabeth Warren to chair the Senate Banking Committee

Bicameral federal legislature of the United States, made up of the Senate and the House of Representatives, which writes law, controls federal spending and oversees the executive branch. Its two chambers represent states and districts on different terms and hold different constitutional powers.

Federal and state elections held midway through a presidential term that determine control of Congress and shape the political direction of the country.