Lawmakers are working to finalize a revised draft, and Senator Cynthia Lummis expects it to be introduced within days and brought to the Senate floor next week. Meanwhile, prediction markets have increased the odds of a Senate vote before the August recess.
CLARITY Act Heads to White House
CLARITY Act is gaining momentum in Washington as US President Donald Trump prepares to meet with a group of senators at the White House on Thursday to discuss the progress of the crypto market structure bill. According to Politico, the meeting will focus on the legislation's path through the Senate as lawmakers are working on advancing the bill before the August recess.
Senator Bernie Moreno said the group will brief Trump on the latest developments, and added that the president played a big role in pushing the legislation forward. Senator Cynthia Lummis is also expected to attend the meeting. Moreno is very confident that the legislation could deliver long-term benefits.
Lawmakers want to pass the CLARITY Act before Congress breaks for its August recess, and many view it as the best opportunity to move the legislation before the upcoming midterm election cycle. Senator Thom Tillis, who has been involved in resolving outstanding provisions of the bill, said he hopes lawmakers can reach an agreement by the end of the week so the measure can be brought to the Senate floor in time.
Momentum has also been boosted by comments from Senator Lummis, who said during an interview with Fox Business that a revised draft of the CLARITY Act is expected to be introduced in the next few days. She added that she anticipates the bill will reach the Senate floor sometime next week.
Prediction markets have also become more optimistic about the bill's near-term prospects. On Kalshi, traders now assign a 77% probability that the CLARITY Act will be voted on by the Senate before the August recess. This is a big increase from the previous day.
CLARITY Act vote probability (Source: Kalshi)
However, confidence that the legislation will become law is a bit more cautious. Kalshi traders currently estimate a 36% chance that the bill will be enacted this year, while giving it a 62% chance of becoming law before the end of 2027. On Polymarket, traders place the likelihood of the CLARITY Act being signed into law this year at 39%.
