CLARITY Act Passage Odds Plummet to 10% Amid Senate Gridlock

The CLARITY Act's chances of passing this year have plummeted to just 10% according to Galaxy Digital, down from a high of 75% in May.

This revised estimate comes as Senators return to Washington on September 14th, facing a tight three-week window before the midterm elections. Alex Thorn, head of firmwide research at Galaxy Digital, notes that the bill's passage has become increasingly tied to politics rather than policy.

The CLARITY Act aims to divide U.S. crypto oversight between the SEC and CFTC, but its progress has been hindered by unresolved disputes over ethics controls, bank lobbying, and developer protections. These issues have eroded Republican support for the bill, which now requires at least 60 votes to pass.