5 things financial watchers should keep an eye on Tuesday night that aren't Trump vs. Harris

Either way, more than a dozen new pro-crypto congressmen and women could head to Washington next year if they win, and that could help settle an ongoing debate about whether (and how) Congress needs to step in to address the To regulate and reshape the industry.

These wealthy groups have sent money to candidates of both parties, from Alaska to New York state, and appear to be helping usher in what is already being described as the most crypto-friendly Congress ever in 2025.

And its influence could continue beyond Election Day, as Politico reported this week that at least one cryptocurrency super PAC is holding $78 million in the bank after Tuesday – apparently to keep lawmakers focused on their preferred issues.

A Senate race in particular is likely to be closely watched by bank CEOs like Jamie Dimon of JPMorgan Chase (JPM).

This is the contest in Ohio between Democratic Senator Sherrod Brown and his challenger Bernie Moreno. It's a contest that could decide both control of the Senate in 2025 and who heads the crucial Senate Banking, Housing and Urban Affairs Committee.

That committee, which Brown currently chairs, has oversight of major banks and has been the site of highly anticipated hearings in recent years, with CEOs forced to answer questions from lawmakers on a range of topics.

Whoever takes center stage over these CEOs in 2025, be it Brown or a friendlier figure like current senior Republican Sen. Tim Scott of South Carolina, will be closely watched.

Some voters will have the opportunity to express their opinions on cannabis on Tuesday.

Voters in Nebraska, North Dakota, South Dakota and Florida have marijuana measures on the ballot. And voters in Massachusetts will get to decide whether they want to go a step further and potentially legalize psychedelics.

Florida's bill, for example, would legalize recreational marijuana use for all adults in the state. It is already legal in Florida for medical reasons and is already considered the most lucrative medical cannabis market in the United States.

The results in Florida and elsewhere would add to a patchwork of marijuana laws across the country and could also determine whether long-awaited changes at the national level move closer to reality.

Efforts to legalize cannabis banking have long been stalled in Washington DC, with the SAFE Banking Act stuck in Congress for years. But increasing acceptance of “legitimate” cannabis businesses at the state level could open the door even further to these efforts.

The fight for control of Congress as a whole could end up lasting as long as the presidency — and it could be just as important on certain issues.

Two of the most important debates in Washington in 2025 will revolve around taxes and green energy. In either case, President Trump or Harris could see almost all of their promises on these fronts unraveled as they negotiate with either a House or Senate controlled by the opposition party.

“The makeup of Congress is critical,” Charles Myers, chairman and founder of Signum Global Advisors, said in a recent interview on tax issues.

He said a divided Washington was the most likely outcome and would quickly lead to a massive lowering of expectations no matter who wins.

In fact, a split decision seems entirely possible. A consensus forecast compiled by 270toWin suggests that Republicans will be able to capture at least 51 seats and therefore control.

Over in the House of Representatives, the divide is evenly split – 21 seats will likely decide who wields the gavel next year.

Ben Werschkul is a Washington correspondent for Yahoo Finance.

Every Friday, Yahoo Finance's Rachelle Akuffo, Rick NewmanAnd Ben Werschkul give you unique insight into how U.S. politics and government impact your bottom line at Capitol Gains. Watch or listen to Capitol Gains Apple Podcasts, Spotifyor wherever you find your favorite podcasts.

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