The Republican Party is on track to maintain control of the U.S. House of Representatives, thereby completing a sweep of Congress and the presidency, and granting the GOP the freedom to pursue their legislative goals.
As of the latest update, the Associated Press had called 409 out of 435 seats, with the Democrats securing 199 seats and the Republicans winning 210. The party that reaches 218 seats first will claim the majority, and as of Thursday evening, the Republicans appeared to be nearing this threshold, consistent with the odds on the betting site Polymarket, where traders gave the Republicans at least a 51% chance of winning, rising to 98.5% by press time.
With the Republicans also having won control of the Senate and the presidential election, this outcome is expected to create a more favorable environment for cryptocurrencies in the U.S. In various key races, Republican candidates are leading, including Nick Begich in Alaska, David Schweikert in Arizona, and Mariannette Miller-Meeks in Iowa. The results in these and other races suggest that the Republicans are likely to secure the majority in the House, although some races remain too close to call. If these results hold, the Democrats would need to win all their remaining races to regain control of the House.
However, with Republicans leading in several of these races, it appears that the GOP is poised to hold 224 seats, a two-seat gain over the previous Congress. According to Polymarket, bettors give this outcome an 86% chance, up from around 20% on Tuesday night.