French Hill Wins Reelection as Democrats Take House Control

Rep. French Hill's Arkansas reelection race was called Thursday, Nov. 5, with Democrats' House takeover expected to end his House Financial Services Committee chairmanship in January.

The call resolves the Arkansas 2nd Congressional District contest between Hill and Democratic challenger Chris Jones, which had remained open in TokenPost's earlier coverage of the committee outlook. Rep. Maxine Waters of California is the committee's current ranking member.

Hill's record includes sponsoring the CLARITY Act and voting for the GENIUS Act. He is expected to move from chair to ranking minority member when control changes. Democrats' takeover raises uncertainty over U.S. crypto legislation and the prospect of greater industry scrutiny.

Fairshake, a crypto industry-backed super PAC, pledged $1 million to support Hill's campaign in October. Super PACs backed by crypto interests spent over $176 million across the election cycle.

The committee leadership change is expected in January, when Democrats take control of the House.