CLARITY Act Odds Surge To 53% As Market Eyes Final Text Today

The market appears to have become more confident that the CLARITY Act will progress in the U.S. Senate. Prediction platform Polymarket shows that odds the bill’s passage have surged beyond 50%. The rise comes as lawmakers get close to revealing the next version of the bill on July 4 and submit it to public comment.

CLARITY Act Approval Probability Grows

The increased likelihood comes after months of discussions with lawmakers, regulators and industry participants. Also, new comments by Senator Cynthia Lummis hint that the negotiations are in the last stages. Under this backdrop, the CLARITY Act approval odds soared to 53% on Polymarket.

In an interview with Fox Business’ Maria Bartiromo, Lummis showed how much effort has been put into crafting the legislation. “We’ve been negotiating on the CLARITY Act hardcore since last Labor Day,” she said. Lummis also described the process as “an arduous process.”

The senator said the lawmakers had put “thousands of hours” into working out this bill. It took into account the feedback from the banking industry and concerns raised during the debates of the GENIUS Act. Now, senators are working on the final public draft of the new text of the legislation, she added.

“We’re finally to the point where we’re going to put out a text over the July 4th and give people one last really thorough look at the bill,” Lummis said. She also confirmed, “And then we’re moving in July.” She even indicated that the CLARITY Act has a chance to be presented to the Senate.

In addition, the crypto market structure bill has made an important jump forward as the Major County Sheriffs of America (MCSA) has revised its stance to a neutral one on the decentralized finance (DeFi) clause of the CLARITY Act. After dropping to the lowest point earlier this week, odds of President Donald Trump signing the legislation into law this year have picked up again after the development.

Lawmakers Continue Discussions On The Crypto Market Structure Bill

Lummis also revealed talks are underway with Senate leadership, including Sen. John Thune, to get floor time for the CLARITY Act this summer.

The senator also rebutted criticism from the key banking executives, such as concerns raised by JPMorgan CEO Jamie Dimon. “With all due respect, Mr. Dimon is mistaken about the CLARITY Act. He needs to read it over July 4th,” she said.

To put to rest industry concerns, Lummis highlighted the industry’s earmarked Section 301. For context, this clause removes a perceived loophole and provides increased anti-money laundering protection. She also noted that the revisions were made to ensure that crypto rewards programs are not considered an interest-bearing banking offering, where firms could offer rewards that aren’t based on their customers’ account balances.