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 (BA)

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 over the course of his two-decade congressional career, serving as a chief deputy whip, ranking member, and ultimately chair of the House Financial Services Committee. In October 2023, he gained national attention when he was designated Speaker pro tempore following the unprecedented removal of Kevin McCarthy as Speaker of the House, a role he held for 22 days until Mike Johnson was elected Speaker. Before entering Congress, McHenry served a single term in the North Carolina House of Representatives. He was the dean of North Carolina's congressional delegation, a distinction he shared with fellow Republican Representative Virginia Foxx. Since leaving Congress in January 2025, McHenry has remained active in policy advocacy, particularly in the financial technology and prediction markets sectors.

Early Life

Patrick Timothy McHenry was born on October 22, 1975, in Gastonia, North Carolina, a city in the western part of the state. He grew up in the region that would later form the core of the congressional district he represented for two decades. McHenry developed an interest in politics at a young age and became involved in Republican Party activities during his formative years.

As a young man, McHenry worked in various political roles that helped him build connections within the North Carolina Republican establishment and the national party. His early political involvement included work on campaigns and with party organizations, which gave him experience in electoral politics and grassroots organizing before he sought office himself.

McHenry's upbringing in the foothills of western North Carolina shaped his political identity as a conservative Republican. The region, characterized by its mix of small towns and rural communities, provided a political base that would prove receptive to McHenry's brand of conservatism throughout his congressional career.

Education

McHenry attended Belmont Abbey College, a private Catholic liberal arts college located in Belmont, North Carolina, near his hometown of Gastonia. He earned a Bachelor of Arts degree from the institution. Belmont Abbey College, founded by Benedictine monks, is one of the smaller Catholic colleges in the southeastern United States. McHenry's education there provided him with a foundation in the liberal arts before he pursued a career in politics and government.

Career

North Carolina House of Representatives

Before running for Congress, McHenry served one term in the North Carolina House of Representatives, gaining experience in state-level governance and building name recognition among Republican voters in the western part of the state. His time in the state legislature was relatively brief, as he soon set his sights on a seat in the U.S. Congress. His single term in Raleigh nonetheless provided him with legislative experience and connections that aided his subsequent congressional campaign.

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 western North Carolina, included communities such as Hickory and Mooresville. At the time of his election, McHenry was 29 years old, making him one of the youngest members of the 109th Congress when he took office in January 2005.

McHenry won reelection consistently throughout his tenure, reflecting the Republican-leaning nature of his district. His Federal Election Commission filings document his campaign activities over the course of his congressional career. Election results from North Carolina confirmed his repeated victories in both primary and general elections.

House Republican Leadership

McHenry's rise within the Republican conference was marked by his appointment as House Republican chief deputy whip, a position he held from August 1, 2014, to January 3, 2019. In this role, he served under Speakers John Boehner and Paul Ryan, working to secure Republican votes on key legislation and maintain party discipline on the House floor. He succeeded Peter Roskam in the position and was in turn succeeded by Drew Ferguson.

The chief deputy whip position placed McHenry at the center of Republican legislative strategy during a tumultuous period for the party. He served during the latter years of the Obama administration and the early years of the Trump administration, navigating intra-party tensions between establishment Republicans and the growing conservative insurgency within the House Republican conference.

House Financial Services Committee

McHenry's most prominent committee assignment was on the House Financial Services Committee, where he served for many years and eventually rose to its top positions. From January 3, 2019, to January 3, 2023, he served as the ranking member of the committee, the top Republican on the panel, during a period when Democrats controlled the House and Maxine Waters served as chair.

When Republicans regained control of the House following the 2022 midterm elections, McHenry became chair of the House Financial Services Committee on January 3, 2023, succeeding Waters. As chair, McHenry oversaw the committee's jurisdiction over banking, insurance, housing, and securities regulation. He played a central role in shaping Republican policy on financial regulation, digital assets, and cryptocurrency during the 118th Congress.

McHenry's chairmanship was notable for its focus on financial technology and digital assets. He championed legislation aimed at creating a regulatory framework for cryptocurrencies and digital tokens, positioning himself as one of Congress's leading voices on the intersection of technology and financial services. His work on the committee drew attention from both the financial industry and technology sector.

He served as chair until January 3, 2025, when he was succeeded by French Hill.

Speaker Pro Tempore

On October 3, 2023, the U.S. House of Representatives voted to remove Kevin McCarthy as Speaker through a motion to vacate the chair, the first time in American history that such a motion had succeeded. Following McCarthy's removal, McHenry was designated as Speaker pro tempore, a position that had been established under House rules for situations in which the Speaker's office becomes vacant.

McHenry served as Speaker pro tempore from October 3 to October 25, 2023, a period of 22 days during which the House was largely paralyzed as Republicans struggled to elect a new Speaker. The House could not conduct regular legislative business during this period, as the Speaker pro tempore's powers were limited compared to those of a fully elected Speaker. The question of the extent of the Speaker pro tempore's authority became a subject of debate among constitutional scholars and congressional proceduralists.

During his tenure as Speaker pro tempore, McHenry presided over the House chamber as multiple Republican candidates sought to secure the votes needed to become Speaker. The process was contentious and drawn out, with several candidates failing to win sufficient support from the Republican conference. McHenry's role required him to navigate the unprecedented situation with institutional awareness and procedural knowledge.

On October 25, 2023, Mike Johnson of Louisiana was elected Speaker of the House, ending McHenry's service as Speaker pro tempore. McHenry subsequently returned to his position as chair of the House Financial Services Committee.

In September 2025, McHenry returned to the Capitol to accept an award and reflected on his experience during those tumultuous three weeks. He discussed the chaos and resilience of the legislative process during that period.

Departure from Congress

McHenry announced that he would not seek reelection in 2024, choosing to retire from Congress at the end of the 118th Congress in January 2025. His departure marked the end of a 20-year tenure representing North Carolina's 10th congressional district. At the time of his retirement, McHenry was the dean of North Carolina's congressional delegation, a distinction he shared with Representative Virginia Foxx, who had also entered Congress in 2005.

Post-Congressional Career

After leaving Congress in January 2025, McHenry transitioned to the private sector while maintaining involvement in policy advocacy. He became particularly active in the area of prediction markets, an emerging financial sector that allows participants to trade on the outcomes of future events.

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 senior advisor and chairman of the organization. Former Democratic Congressman Sean Patrick Maloney was named CEO and president of the same organization. The bipartisan pairing of McHenry and Maloney reflected the organization's effort to advocate for federal regulation of prediction markets rather than a patchwork of state-level regulations.

McHenry and Maloney spoke publicly about the rapidly expanding prediction markets industry, including platforms such as Kalshi and Polymarket, discussing their potential role in financial markets and the importance of establishing a clear regulatory framework.

In January 2026, McHenry was interviewed by Politico about his post-congressional activities and views on technology and financial policy, further establishing his role as a commentator and advocate in the financial technology space.

McHenry also continued to offer analysis on congressional proceedings, appearing on Bloomberg to discuss government funding votes and other legislative matters in early 2026.

The American Prospect reported in May 2025 on McHenry's post-congressional role as a senior advisor, noting his involvement in cryptocurrency-related policy advocacy and raising questions about the revolving door between Congress and the industries lawmakers previously regulated.

Personal Life

McHenry has maintained a relatively private personal life throughout his political career. He is based in North Carolina, where he represented the communities of Hickory, Mooresville, and surrounding areas in the western part of the state for 20 years.

Recognition

In September 2025, McHenry returned to the U.S. Capitol to receive an award recognizing his service. During the visit, he reflected on his time as Speaker pro tempore and the broader experience of serving in Congress during a period of significant institutional upheaval.

Throughout his congressional career, McHenry was recognized for his work on financial services policy. His role as chair of the House Financial Services Committee placed him at the center of debates over banking regulation, digital assets, and financial technology. His advocacy for a comprehensive regulatory framework for cryptocurrencies and digital assets earned him attention from financial industry stakeholders and technology policy observers.

McHenry was also a member of the Republican Study Committee, the largest caucus of House Republicans, and was involved in the Congressional NextGen 9-1-1 Caucus, which focused on modernizing the nation's emergency communications systems.

Legacy

Patrick McHenry's two-decade tenure in Congress coincided with a period of significant transformation in both the Republican Party and American financial policy. Entering Congress as one of its youngest members in 2005, he rose through the ranks of Republican leadership, holding positions that placed him at the intersection of party strategy and policy development.

His service as Speaker pro tempore, while brief, represented a unique moment in American legislative history. The 22-day period during which he held the gavel highlighted both the fragility and the resilience of congressional institutions. McHenry was the first person to serve in the Speaker pro tempore role under the circumstances of a successful motion to vacate, a constitutional test that had no direct precedent.

As chair of the House Financial Services Committee, McHenry shaped the Republican approach to financial technology regulation during a period when digital assets and cryptocurrencies were rapidly entering the mainstream financial system. His legislative efforts on cryptocurrency regulation represented an attempt to establish federal standards for an industry that had largely operated in a regulatory gray area.

After leaving Congress, McHenry's transition to roles in prediction markets advocacy and financial technology consulting reflected a broader pattern of former lawmakers leveraging their policy expertise and connections in the private sector. His bipartisan collaboration with former Democratic Congressman Sean Patrick Maloney at the Coalition for Prediction Markets represented an unusual pairing that drew on both men's legislative experience and policy networks.

McHenry's career trajectory—from young state legislator to influential committee chairman and brief occupant of the Speaker's chair—illustrated the possibilities and constraints of building a legislative career in an era of increasing partisan polarization and institutional instability in the U.S. House of Representatives.