Crypto’s CLARITY push heats up, but prediction markets aren’t buying the August deadline
More than 200 companies and organizations urged Senate leaders on June 7 to bring the CLARITY Act to a floor vote quickly. Backers say a federal crypto framework is needed to keep digital asset activity from moving offshore and to improve transparency and consumer protection. The bill advanced out of the Senate Banking Committee on May 14 by a 15-9 bipartisan vote, but it still faces reconciliation with Senate Agriculture language and the House-passed version before final passage. Supporters, including Sen. Cynthia Lummis and Sen. Tim Scott, are pressing for action. Opponents, led by consumer and reform groups, argue the Senate version is too weak on anti-money laundering, ethics, and stablecoin-yield rules. Prediction markets have become less optimistic: Polymarket and Kalshi both cut odds of near-term enactment, reflecting concerns about floor time, unresolved policy disputes, and a crowded Senate calendar.
