A Democratic victory in one or both chambers of Congress would not stop President Donald Trump’s administration from handing regulatory breaks to Wall Street banks, prediction markets and crypto firms, but it would give Democrats powerful tools to probe the industries and their watchdogs.
\n\nPolls suggest Democrats are poised to win the House of Representatives and have an edge in the race for the Senate. If the party prevails in either chamber, it would gain subpoena power, larger investigative staffs and the power to call in agency heads and corporate CEOs to testify, creating headaches and potential legal entanglements for those under scrutiny.
\n\n“Everything that has gone on in the first two years of this administration is fair game for investigations,” said Kevin Edgar, a partner at BakerHostetler and former chief counsel of the House Financial Services Committee.
\n\nThe administration’s financial policy agenda includes easing rules and supervision it says are too onerous and impeding economic growth, while promoting innovation that it says will boost the economy, including crypto and prediction markets.
\n\nDemocrats are already preparing to investigate Trump’s and his family’s ties to the crypto and prediction market industries, Reuters reported. They say such dealings are a conflict of…
Original source: https://www.nbcnews.com/business