Crypto Market May See Upside Surprise with CLARITY Act Passage

The CLARITY Act is a major regulatory focus for the crypto industry. However, Alex Tapscott, CEO of CMCC Global Capital Markets, suggests that prediction markets may be overstating its chances of passing.

Tapscott believes that investors have not heavily positioned themselves for the bill's passage, which could limit the shock from a failed bill. He also thinks that approval would deliver a bigger surprise to the upside potential.

Tapscott pointed out that after the GENIUS Act passed, crypto-related companies like Coinbase and Robinhood reportedly gained 25% to 30% within seven to 14 trading days.