Evercore’s Sarah Bianchi Says AI and Chip Companies Could Be Called to Testify. Markets Give Republicans a 36% Shot at the Senate.

On Tuesday, Sarah Bianchi, chief strategist of international political affairs and public policy at Evercore ISI and a former deputy United States trade representative, told CNBC that a change in congressional control would bring “a whole slew” of investigations. She added that some of them will matter for markets. She gave a specific example: AI companies or chip companies being called to testify.

Oversight hearings are a concrete risk that can be scheduled and reach the largest companies in the market. They need only a majority in either chamber to put executives at the witness table.

Bianchi’s Senate Read Next to the Market Price

Bianchi said she doesn’t think anyone expects Republicans to hold the House, but they have “a shot” at the Senate.

Prediction market pricing lets readers check that claim. As of 1:40 p.m. ET on October 6, 2026, Polymarket priced Democratic control of the Senate after the midterms at 64.5% and Republican control at 35.5%. Total volume on the market stood at $5.9 million, which shows how much money stands behind those prices. These are market prices at a single moment. Nobody has backed them as a forecast.

The Republican price fell 14 percentage points over the past month, from 49.5%, and 38 points over the past year, from 73.5%, moving steadily against Republicans.

The market prices a Republican Senate win at roughly one in three, and that price has moved steadily against Republicans.

Major forecasters point in a similar direction. NPR reported Tuesday that the Democratic advantage is clear with less than a month to go in the midterm elections. Last week, The Hill reported in a forecast update that Democrats gained ground in the House while the Senate stays tight. Independent models are also live, including Silver Bulletin’s FLIPR 2026 midterm forecast. Bianchi herself told CNBC in mid-September that Democrats had gained more momentum that week.

Spending Deadlines Hand Over Leverage

The second result for markets is budgetary. Bianchi said that when spending deadlines arrive, Democrats would have “more leverage” to add some spending back in health care and other areas.

Polymarket odds on Oct. 6, 1:40 p.m. ET

Control of a chamber determines who holds leverage when a funding deadline hits, affecting sectors that rely on federal dollars.

Executive Power Stays Off the Ballot

Bianchi also addressed what the election leaves unchanged. Most of what the President has done in his second term has come through “the power of the executive branch,” and she does not expect him to slow down until he leaves office.

She applied that to trade. The President loves trade and has pressed ahead with his “tariff agenda” despite legal setbacks and affordability complaints.

A new majority in Congress would reshape oversight and spending leverage, while the tools driving trade and regulatory policy sit with the executive branch. Those tools stay off the ballot. Bloomberg Intelligence’s Nathan Dean said last week that “2027 is the year of the tariff,” and expects more tariffs to return.

Three Timelines Investors Should Track

The election will be decided next month. If investigations follow, they would begin after that, reaching AI and chip companies. Executive actions on trade and regulation will continue on a schedule independent of the vote count.

Investors who hold the largest technology names should keep in mind that headline risk from hearings and policy risk from the executive branch move on separate tracks. The exposure runs beyond the chipmakers themselves to the power, cooling, and networking suppliers behind the data-center expansion. The Polymarket Senate price, and how it changes over the coming weeks, is one dated reference point for estimating which of those tracks gets busier in 2027.