Patrick McHenry

Patrick McHenry
Official portrait, 2018
Patrick McHenry
Born	Patrick Timothy McHenry 22 10, 1975
Birthplace	Gastonia, North Carolina, U.S.
Nationality	American
Occupation	Politician, political consultant
Known for	Chair of the House Financial Services Committee; Speaker pro tempore of the U.S. House of Representatives (2023)
Education	Belmont Abbey College (B.A.)

Patrick Timothy McHenry (born October 22, 1975) is an American politician who served as the U.S. representative for North Carolina's 10th congressional district from 2005 to 2025. A member of the Republican Party, McHenry rose through the ranks of House Republican leadership to become one of the most influential figures in congressional financial policy, serving as chairman of the House Financial Services Committee from 2023 to 2025 and as the committee's ranking member from 2019 to 2023. He gained national attention in October 2023 when he was designated Speaker pro tempore of the U.S. House of Representatives for 22 days following the unprecedented removal of Speaker Kevin McCarthy through a motion to vacate the chair. Before entering Congress, McHenry served one term in the North Carolina House of Representatives. During his two decades in the U.S. House, he became recognized as a key Republican voice on matters of financial regulation, digital assets, and fintech innovation. He was the dean of North Carolina's congressional delegation, a distinction he shared with fellow Representative Virginia Foxx. After leaving Congress in January 2025, McHenry transitioned into the private sector, taking on advisory roles related to prediction markets and financial technology.

Early Life

Patrick Timothy McHenry was born on October 22, 1975, in Gastonia, North Carolina. He grew up in the western North Carolina region, an area characterized by its small-town communities and manufacturing-based economy. McHenry became involved in Republican politics at a young age, developing an interest in conservative governance and public policy during his formative years.

McHenry's early engagement with politics was notable for its intensity and precociousness. As a young man in North Carolina, he immersed himself in the organizational machinery of the Republican Party, gaining experience in campaign operations and political strategy. His involvement in Republican circles during the 1990s provided him with connections and institutional knowledge that would prove instrumental in his later political career.

His early political activities included work on behalf of Republican candidates and causes in North Carolina. McHenry built a reputation within state party circles as an energetic and ambitious young operative, qualities that helped position him for his own eventual entry into electoral politics. His roots in western North Carolina would remain central to his political identity throughout his career, as he consistently represented communities in that part of the state during his time in both the state legislature and the U.S. Congress.

Education

McHenry attended Belmont Abbey College, a small Catholic liberal arts institution located in Belmont, North Carolina, near Charlotte. He earned a Bachelor of Arts degree from the college. Belmont Abbey College, founded by Benedictine monks in 1876, is known for its emphasis on Catholic intellectual tradition and liberal arts education. McHenry's time at the college coincided with his continued involvement in Republican politics in North Carolina.

Career

North Carolina House of Representatives

Before entering federal politics, McHenry served one term as a member of the North Carolina House of Representatives. His tenure in the state legislature provided him with direct legislative experience and a platform from which to pursue higher office. During his time in Raleigh, McHenry participated in state-level policy debates and further established his credentials as a conservative Republican legislator.

His single term in the state House served primarily as a stepping stone to his successful campaign for the U.S. House of Representatives. McHenry's ambition to serve at the federal level was apparent from early in his political career, and his state legislative service gave him the elected-office experience and name recognition necessary to mount a competitive congressional campaign.

U.S. House of Representatives

Election to Congress

McHenry was first elected to the U.S. House of Representatives in 2004, winning the seat for North Carolina's 10th congressional district. The district, located in the western part of the state, included communities such as Hickory and Mooresville. At the time of his election, McHenry was among the youngest members of the 109th Congress, taking office in January 2005 at the age of 29.

McHenry won re-election repeatedly in subsequent cycles, holding the seat through multiple redistricting processes. His campaign finances were tracked by the Federal Election Commission under candidate ID H4NC10047. His electoral success in the reliably Republican district allowed him to focus considerable energy on building influence within the House Republican Conference and on committee work.

Rise in Republican Leadership

McHenry's ascent within the House Republican leadership structure was steady and deliberate. On August 1, 2014, he was appointed House Republican chief deputy whip, serving under Speakers John Boehner and Paul Ryan. In this role, McHenry was responsible for helping count and secure votes on key legislation, serving as a crucial liaison between Republican leadership and the broader conference. He succeeded Peter Roskam in the position and served until January 3, 2019, when he was succeeded by Drew Ferguson.

The chief deputy whip position placed McHenry at the center of House Republican legislative strategy during a tumultuous period that included internal party disputes over government funding, immigration policy, and the speakership itself. His ability to navigate these factional tensions contributed to his reputation as a pragmatic operator within the Republican Conference.

House Financial Services Committee

McHenry's most consequential committee assignment was his service on the House Financial Services Committee, where he eventually became one of the most influential voices on financial regulation in Congress. When Democrats took control of the House in January 2019, McHenry assumed the position of ranking member of the committee, serving as the senior Republican on the panel opposite Chairwoman Maxine Waters. He held the ranking member position from January 3, 2019, to January 3, 2023.

When Republicans regained the House majority following the 2022 midterm elections, McHenry ascended to the chairmanship of the Financial Services Committee on January 3, 2023. He succeeded Maxine Waters in the role and served as chairman until January 3, 2025. As chairman, McHenry oversaw the committee's jurisdiction over banking, insurance, securities, housing, and financial technology. He was succeeded as chairman by French Hill of Arkansas.

During his time leading the Financial Services Committee, McHenry focused on issues related to digital assets, cryptocurrency regulation, and financial technology innovation. He championed legislation aimed at establishing a regulatory framework for digital assets and worked on bipartisan efforts to modernize the financial regulatory system. His committee work on these topics established him as one of the leading congressional figures in the emerging debate over how the federal government should regulate cryptocurrency and blockchain technology.

Speaker Pro Tempore

McHenry's most prominent moment on the national political stage came on October 3, 2023, when he was designated Speaker pro tempore of the U.S. House of Representatives. This occurred following the historic removal of Speaker Kevin McCarthy through a motion to vacate the chair — the first successful such motion in the history of the House. McCarthy had placed McHenry's name on a secret list of designated successors, as required under House rules, to serve as Speaker pro tempore in the event that the Speaker's office became vacant.

McHenry served in this extraordinary role for 22 days, from October 3 to October 25, 2023, when Mike Johnson was elected as the new Speaker of the House. The period of McHenry's service as Speaker pro tempore was marked by intense negotiations among House Republicans over who should succeed McCarthy. Multiple candidates for Speaker were nominated and failed to secure the necessary majority of votes on the House floor before Johnson ultimately prevailed.

The role of Speaker pro tempore during a vacancy is constitutionally and procedurally distinct from the full speakership. McHenry presided over the House chamber during this interim period but the scope of his authority was a matter of debate. Some members argued that the Speaker pro tempore should exercise the full powers of the Speaker, while others contended that the role was limited to presiding over the election of a new Speaker. McHenry generally adopted a restrained interpretation of his authority during this period.

In September 2025, McHenry returned to the Capitol to accept an award and reflected publicly on his experience serving as Speaker pro tempore. He described the period as one characterized by both chaos and resilience within the legislative process.

Congressional NextGen 9-1-1 Caucus

McHenry was also involved in the Congressional NextGen 9-1-1 Caucus, which focused on modernizing the nation's emergency communications infrastructure. The caucus advocated for the transition from legacy 9-1-1 systems to next-generation technology capable of handling text, data, and video communications from the public to emergency services.

Republican Study Committee

During his time in Congress, McHenry was associated with the Republican Study Committee, the largest caucus of conservative Republicans in the House. The RSC has historically served as an organizational vehicle for advancing conservative policy priorities within the House Republican Conference.

Decision Not to Seek Re-election

McHenry announced that he would not seek re-election in 2024, bringing his congressional career to a close after ten terms. He departed Congress on January 3, 2025, having served for two decades in the U.S. House of Representatives. His departure marked the end of a career that had seen him rise from one of the youngest members of Congress to the chairman of one of its most powerful committees.

Post-Congressional Career

After leaving Congress, McHenry transitioned into roles in the private sector, particularly in areas related to financial technology and prediction markets. In January 2026, the Coalition for Prediction Markets (CPM), a bipartisan coalition focused on preserving access to prediction markets, announced that McHenry would serve as chairman and senior advisor. Former Democratic Representative Sean Patrick Maloney was named as the organization's CEO and president.

The coalition's stated goal was to ensure that federal law, rather than a patchwork of state regulations, would govern the prediction markets industry. The bipartisan nature of the organization, pairing a former Republican committee chairman with a former Democratic member, reflected the cross-party interest in prediction market regulation.

McHenry's involvement with prediction markets drew attention given his prior role overseeing financial regulation as chairman of the House Financial Services Committee. In February 2026, he and Maloney spoke publicly about the rapidly expanding prediction markets sector, discussing the regulatory challenges and opportunities presented by platforms such as Kalshi and Polymarket.

His post-congressional activities also included media commentary on legislative matters. In January 2026, McHenry appeared on Bloomberg to discuss government funding negotiations in the House of Representatives and the nomination of Kevin Warsh. He was also interviewed by Politico for its Digital Future Daily newsletter, answering questions about technology and financial policy.

McHenry's transition from Congress to the prediction markets industry prompted scrutiny from some observers. The American Prospect reported on his post-congressional advisory work, noting the proximity between his former regulatory responsibilities and his new private-sector role in the cryptocurrency and financial technology space.

Personal Life

McHenry has maintained his residence in western North Carolina throughout his political career, maintaining close ties to the communities he represented in Congress. His personal life has remained relatively private compared to his public political activities.

Recognition

In September 2025, McHenry returned to the U.S. Capitol to receive an award recognizing his service. The occasion also provided an opportunity for him to reflect publicly on his experience as Speaker pro tempore, a role he described in terms of the challenges and institutional resilience it demonstrated.

During his time in Congress, McHenry's work on the House Financial Services Committee earned him recognition as one of the leading Republican voices on financial regulation and digital asset policy. His chairmanship of the committee from 2023 to 2025 represented the culmination of years of work on financial services issues, and his legislative efforts on cryptocurrency and fintech regulation were noted by industry observers and media outlets.

McHenry's tenure as dean of the North Carolina congressional delegation, a title he shared with Representative Virginia Foxx, reflected his longevity and seniority within the state's representation in Washington.

Legacy

Patrick McHenry's two-decade tenure in the U.S. House of Representatives encompassed a period of significant transformation in American financial regulation and congressional politics. His career arc — from one of the youngest members of the 109th Congress to chairman of the House Financial Services Committee — illustrated the path of an ambitious Republican lawmaker who built influence through committee work and leadership service.

His 22-day service as Speaker pro tempore in October 2023 placed him at the center of one of the most unusual episodes in the modern history of the House. The removal of a sitting Speaker through a motion to vacate had not occurred before in the institution's history, and McHenry's role in managing the transition period drew attention to questions about the powers and limitations of the Speaker pro tempore designation. His restrained approach to the role was noted by congressional observers.

On the Financial Services Committee, McHenry's work on digital asset regulation represented an effort to bring legislative clarity to a rapidly evolving sector of the financial industry. His bipartisan engagement on cryptocurrency and fintech issues during his chairmanship laid groundwork for ongoing congressional debates about the regulation of digital assets, stablecoins, and decentralized finance.

McHenry's post-congressional career in the prediction markets space continued his focus on financial innovation and regulatory frameworks. His partnership with former Democratic Representative Sean Patrick Maloney in the Coalition for Prediction Markets reflected a bipartisan approach to emerging financial technology issues that had characterized some of his committee work in Congress.

His departure from Congress after ten terms marked the end of an era for western North Carolina's representation in Washington and for the House Financial Services Committee, where his focus on modernizing financial regulation had shaped the panel's agenda during a period of rapid technological change in the financial industry.