Senate Votes Delayed: Clarity Act Passage Odds Plummet to 16%

The US Senate has delayed its vote on the Clarity Act until after its August recess, significantly reducing the bill's chances of passage.

The Clarity Act aims to establish a regulatory framework for the crypto sector and clarify what constitutes a blockchain and cryptocurrency.

However, the bill faces an uphill battle with only a few weeks remaining before the Senate is out of session until the midterm elections.

According to Kalshi, the odds of the Clarity Act meeting its required 60-vote threshold have plummeted from 25% to 16% following the delay.