President Donald Trump warned congressional Republicans he faces impeachment if the party loses control of the House in the November midterm elections, a scenario that could derail pending cryptocurrency legislation and regulatory framework bills.
What Happened: Presidential Warning
Trump told House Republicans on Tuesday they must win the midterms or Democrats will find grounds to impeach him.
"You got to win the midterms, because if we don't win the midterms, it's just going to be — I mean — they'll find a reason to impeach me," Trump said. "I'll get impeached."
Polls show Democrats leading in House races, with Polymarket bettors placing nearly 80% odds on a Democratic majority, which would shift control over key legislative priorities including the crypto market structure bill scheduled for a Senate Banking Committee vote next week.
The president's approval rating has dropped to 42% as voters express concern over the cost of living and divided opinions within the GOP base regarding his handling of the Epstein files.
All 435 House seats and 33 Senate seats are up for election in November.
Republicans losing control of either chamber would affect the party's policy agenda in the final two years of Trump's term, particularly the crypto market structure bill that Senate Banking Committee Chair Tim Scott said was headed for another vote on Thursday next week.
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Why It Matters: Legislative Impact
Trump was impeached twice during his first term — in 2019 for abuse of power and obstruction of Congress related to alleged pressure on Ukraine, and in January 2021 for inciting insurrection following the Jan. 6 Capitol attack. The Senate acquitted him both times.
Polymarket odds place a 67% chance of Republicans retaining Senate control, which could lead to another acquittal if Trump faces a third impeachment. However, Democratic control of the House would enable resistance to Trump's agenda and create congressional gridlock.
Several Democrats, including Representative Sean Casten and Senator Jon Ossoff, have indicated Trump should face impeachment over his cryptocurrency dealings, which included hosting a private dinner for top holders of his memecoin.
Trump has faced resistance within his own party over crypto policy, as a conservative GOP faction last year blocked progress on crypto bills until a central bank digital currency ban was added.
Republican leaders struck a deal with holdouts to add a CBDC ban to a defense bill to secure support for legislation including the GENIUS Act, but later passed the defense funding bill without the CBDC prohibition, angering some party members. Crypto companies have contributed $21 million to Trump PACs ahead of the midterm elections.
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