Crypto Regulation Bill Faces Long Odds
A regulatory framework for cryptocurrencies is uncertain, according to Kalshi traders who see less than a 25% chance of major legislation becoming law by year-end. The Digital Asset Market Clarity Act, which has bipartisan support in the House, is set for a procedural vote in the Senate on September 15.
The White House has been urging lawmakers to pass the legislation, with President Donald Trump calling for a 'fair version' of the Clarity Act just last week. However, despite a surge in Bitcoin price, propelled by Trump's push for the Clarity Act, Kalshi traders remain skeptical about its passage this year.
SEC Chairman Paul Atkins and CFTC Chairman Michael Selig were present at a meeting between Trump and crypto industry leaders last week. In a statement, Selig hinted that the CFTC would take matters into its own hands if the Clarity Act fails to pass in the Senate: 'If Clarity continues to stall because of Democrat obstruction, the CFTC will utilize its existing authorities to begin establishing a regime for crypto asset markets.'