Senate Delays CLARITY Act Vote to September, Analyst Sees Upside

What happened: The U.S. Senate will not hold a procedural vote on the CLARITY Act before the August recess, pushing the earliest possible vote to September 15 or 16. Prediction market odds for passage fell sharply—Kalshi dropped from 25% to 16%, and Polymarket to about 13%—reflecting industry disappointment. Key sticking points include ethics concerns tied to former President Trump’s reported $1.4 billion crypto profit, law enforcement provisions, and stablecoin yield rules.

Why it matters: While most industry voices view the delay as bearish, CoinDesk’s Nikhilesh De argues the pause may actually improve the bill’s prospects by allowing time to negotiate contentious ethics language. The delay prevents a potentially fatal vote and gives lawmakers space to address unresolved issues. However, the market’s negative reaction suggests skepticism that consensus will be reached.

Source: CoinDesk