The Democratic Party plans to use congressional oversight power over the next two years to pressure the Trump administration in five areas: government investigations, fiscal budget, Iran policy, artificial intelligence regulation, and cryptocurrency legislation. In the cryptocurrency arena, Democratic efforts to establish a regulatory framework for the crypto market have stalled, primarily because senators and the White House have failed to agree on ethical provisions related to politicians’ crypto businesses. Provisions restricting conflicts of interest in President Trump’s personal cryptocurrency business have made the prospects for legislation similar to the CLARITY Act uncertain. In the House of Representatives, Maxine Waters is expected to become chair of the Financial Services Committee, a position challenged by Sean Casten; in the Senate, Elizabeth Warren will become chair of the Banking Committee, and Sherrod Brown will return to the Senate, indicating that the crypto industry faces legislative obstacles. Regarding AI regulation, Democrats plan to intensify investigations into AI companies and their CEOs, focusing on data center construction, risks of advanced AI models, and the technology's impact on the job market. On Iran policy, Democrats plan to use defense spending, congressional investigations, and war powers resolutions to counterbalance the Trump administration. (Source: Bloomberg)

Quantitative trading giant Hudson River Trading has started trading on the prediction market platform Kalshi, primarily involved in the trading of contracts for both price increases and decreases. Hudson River Trading also participated in Kalshi's latest $1 billion funding round, which valued the company at $40 billion. (Source: Bloomberg)

US AI stocks retreated on November 5th. Leopold's Situational Awareness fund purchased options on AMD, Bloom Energy, CoreWeave, SK Hynix, SanDisk, and a DRAM ETF in mid-September, with a total premium of approximately $315 million. If the holdings remain unchanged, these positions currently have very little residual time value. Serenity's personal account incurred a single-period loss of approximately $13.58 million as of October 22. Its holdings included LITE, AAOI, MRVL, SIVE, COHR, and NVDA, among others; these stocks generally fell by 10% to 22% from the end of October to the beginning of November. (Source: CNBC)

Elizabeth Warren is expected to lead the Senate Banking Committee. (Source: WSJ)

On ABC's "The View," Hillary Clinton called on the new Congress to hold Musk accountable after taking office in January 2027. She accused Musk of manipulating data to influence decision-making and advocated for government action. Musk donated approximately $290 million to Republican candidates and related causes during the 2024 presidential election and spent approximately $470 million supporting the Republican Party in this midterm election cycle. President Trump appointed Musk as a senior advisor and co-led the Department of Government Efficiency (DOGE), which was disbanded in July 2025. Democrats plan to investigate Musk's affairs, including conflicts of interest in federal contracts, data access and layoffs during his time at the Department of Government Efficiency, and the X platform algorithm. President Trump has stated he will take steps to protect Musk if necessary, but the president's pardon power cannot directly prevent congressional oversight, subpoenas, or hearings.