Democrats Projected to Take U.S. House, Shifting Congress’ Balance of Power

Democrats are projected to take control of the U.S. House after Tuesday’s midterm elections, a shift that would alter the balance of power in Congress and the policy outlook for markets and crypto. The count covered 247 of 435 House seats, with Democrats leading Republicans 152-95. That is a partial tally; the projection concerns control of the full chamber. Democrats also flipped seats in areas long considered safe for Republicans. Donald Trump was not on Tuesday’s ballot. The election therefore did not offer voters a direct choice between Trump and another presidential candidate. House control would shift Congress’ balance of power and change the outlook for U.S. policy affecting markets and crypto. For readers in the crypto industry, the relevance is the congressional policy landscape.

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