US President Donald Trump is set to meet with several senators on Thursday to discuss progress on the crypto market structure bill, known as the CLARITY Act. According to Politico, Senator Bernie Moreno said a group of senators will brief the president on the bill and “its path to success.” Senator Cynthia Lummis will also attend, according to a Senate Republican aide.
Meeting Objective
The meeting comes as lawmakers race to pass the CLARITY Act before the Senate’s August recess. Many lawmakers see it as the last realistic opportunity to pass the legislation before the midterm elections. Senator Thom Tillis, who has been helping work through the CLARITY Act’s unresolved provisions, hopes to come up with some agreement by the end of this week.
Market Expectations
Traders on prediction market Kalshi have put a 79% chance on the CLARITY Act being voted on by the Senate before the August recess, up from 68.8% the previous day. However, traders remain less optimistic that the CLARITY Act will become law this year, with a 36% chance of becoming law in 2026, and a 62% chance of doing so before the end of 2027. Polymarket traders have put the chance of the CLARITY Act being signed into law this year at 39%.
Legislative Progress
In an interview with Fox Business on Wednesday, Lummis said a new draft version of the bill will be introduced in the next few days and expects it to be on the Senate floor next week. Despite the progress, three US senators have opposed the CLARITY Act on ethics grounds, with a vote expected soon
Based on reporting from crypto.news.
