Conservative CNN commentator Scott Jennings has warned President Donald Trump that he could confront a "tsunami" of congressional investigations into his business dealings if Republicans lose control of either chamber of Congress in November.

Jennings issued the warning Thursday night on CNN's NewsNight during a conversation with host Abby Phillip about a new promotion linked to Trump's $TRUMP memecoin, a type of cryptocurrency that typically carries no underlying utility and whose value is driven largely by online sentiment. As Mediaite reported Friday, the contest offers top holders access to a Nov. 22 dinner at Trump National near Washington, D.C., a date that falls after November's midterm elections. The top 29 investors are promised VIP access, while the four highest-ranked holders will receive 18-karat Trump-branded gold watches.

Pressed by Phillip on the arrangement, Jennings said he did not know enough about the project to defend its details and assumed White House lawyers had reviewed Trump's private business activity.

"My other advice is that all of these arrangements, whether it's this one or anything else, you really, really have to dot all your I's, cross all your T's and anticipate that every single bit of this is going to be investigated, should you lose control of either chamber," Jennings said, adding: "And you have to be ready to be fully transparent about that when that day comes."

While Jennings stopped short of predicting a Democratic takeover of Congress, he said Trump and those around him should prepare for extensive scrutiny should control change hands. In Congress, the majority party in each chamber controls committee chairmanships and sets the investigative agenda, which is why oversight of a president's business dealings typically expands when control of a chamber flips.

"I don't know what the future holds. I'm not in the prediction business," he said. "But on arrangements like this, I think they need to be prepared for a tsunami of investigatory activity."

Phillip then pressed Jennings on whether he believed it was appropriate for a sitting president to attach his name to a cryptocurrency venture. Jennings acknowledged that the arrangement bothered him.

"I'll be perfectly honest, these kinds of things make me uncomfortable because I don't like the idea of his name, while he's the president, being used for things, you know, where people could get hurt," he said. "And something like this, people could get hurt."

The latest promotion follows an earlier event for major $TRUMP holders, which took place at the president's golf club last year, as well as another gathering at Mar-a-Lago in April.

The memecoin has lost substantial value, and, as Jennings alluded to, his supporters have been financially hurt by investing in the coin, which quickly plunged in value while the president reportedly earned over $600 million from the venture.

Senate Democrats criticized the dinner announcement Thursday, calling it another Trump "grift." Organizers say the November event will not include a private meet-and-greet with Trump and that the president will not accept gifts from attendees.