Trump scrutiny, not CLARITY Act, to become priority if Democrats reclaim House majority

If a Democratic House majority wins in November’s midterms, it is expected that subpoenaing President Donald Trump’s finances and crypto dealings will take first priority.

Meanwhile, the crypto industry’s market-structure bill, the CLARITY Act, could remain on hold for much longer than stakeholders would want.

What would a Democratic House majority mean for Trump?

Representative Jamie Raskin of Maryland, the ranking Democrat on the House Judiciary Committee, is expected to take the gavel if Democrats win the November midterms. He regards the corruption around the presidency “a civic emergency” and said a Democratic majority would let his party “call hearings, conduct depositions, use subpoenas to compel the appearance of witnesses.”

Raskin’s long list of potential targets includes Attorney General Pam Bondi, whom he has already threatened to subpoena over the Justice Department’s handling of the Jeffrey Epstein files. He will also seek answers regarding a $1.8 billion “anti-weaponization” fund for Trump allies and alleged violations of the foreign emoluments clause.

The president reported more than $1 billion in crypto-related income for 2025. His 927-page financial disclosure filed with the U.S. Office of Government Ethics shows that he earned approximately $635 million in royalties from “Celebration Coins,” linked to his $TRUMP memecoin business.