- President Donald Trump will meet with senators Thursday to discuss the CLARITY Act, the crypto market structure bill.
- Lawmakers aim to pass the bill before the Senate’s August recess, seen as the last realistic window before midterm elections.
- Prediction markets show a 79% chance of a Senate vote before recess, but only a 39% chance of the bill becoming law this year on Polymarket.
- Senator Cynthia Lummis expects a new draft of the bill to be introduced in the next few days and to reach the Senate floor next week.
US President Donald Trump will meet with several senators at the White House on Thursday to discuss progress on the crypto market structure bill, known as the CLARITY Act. Senator Bernie Moreno told Politico that a group of senators will brief the president on the bill and its path to success, calling Trump the driver of innovation behind the legislation.
Senator Cynthia Lummis will also attend, according to a Senate Republican aide. Lawmakers are racing to pass the bill before the Senate’s August recess, which many see as the last realistic opportunity before the midterm elections.
Senator Thom Tillis, who has been working through unresolved provisions of the CLARITY Act, told Politico he hopes for an agreement by week’s end. “I think it’s critical if we’re going to try and get this across the floor before August recess,” he said.
Lawmakers are awaiting a revised draft of the bill. Lummis said in a Fox Business interview that a new version will be introduced in the next few days and expects it on the Senate floor next week.
Traders on prediction market Kalshi have placed a 79% chance on the Senate voting on the CLARITY Act before the August recess, up from 68.8% the previous day. However, optimism fades for the bill’s enactment this year. A separate Kalshi market gives a 36% chance of it becoming law in 2026 and a 62% chance by 2027. Meanwhile, Polymarket traders put the chance of the bill being signed into law this year at 39%.
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