CLARITY Act Odds Plummet as Trump's Crypto Push Falters

The fate of the CLARITY Act remains uncertain after its odds of passing dropped to 31% on prediction markets. The bill, which aims to clarify regulatory frameworks for the cryptocurrency industry, has been stuck in limbo despite a recent meeting between Trump and lawmakers.

Last year, the House of Representatives passed its version of the CLARITY Act with a bipartisan vote of 294-134. In May, it cleared the Senate Banking Committee, but the bill still needs more than just Republican support to pass the full Senate.

The sticking point is language that restricts senior government officials from profiting from crypto businesses. Democrats have pushed for stronger restrictions, while banks argue that crypto platforms should not be allowed to offer interest-like payments on stablecoin balances.

While a compromise was reportedly reached in May, the latest meeting between Trump and lawmakers failed to break the deadlock. With the November midterm elections looming, it's unclear whether the bill will pass before then.