President Donald Trump will meet with several senators at the White House on Thursday to review progress on the CLARITY Act, a bipartisan bill to clarify crypto market structure, according to Politico. Senator Bernie Moreno said the group will brief the president on the bill and “its path to success.” A Senate Republican aide confirmed that Senator Cynthia Lummis will also attend.
Moreno said the president has been very engaged with the legislation and credited him with driving innovation that could pay dividends. The meeting comes as lawmakers push to pass the CLARITY Act 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 to resolve outstanding provisions, told Politico he hopes lawmakers can reach agreement by the end of the week and stressed the importance of acting before the recess.
Lawmakers are waiting for a revised draft of the bill. In a Fox Business interview, Senator Lummis said a new draft will be introduced in the next few days and she expects the measure to reach the Senate floor next week. Cointelegraph contacted Senator Lummis for comment.
Traders on prediction market Kalshi have placed the chance of the Senate voting on the CLARITY Act before the August recess at 79%, up from 68.8% the prior day. However, markets are more cautious about the bill becoming law in the near term: a $3 million Kalshi market assigns a 36% probability of the bill becoming law in 2026 and a 62% chance of it passing before the end of 2027. Polymarket traders put the likelihood of the CLARITY Act being signed into law this year at about 39%.
The bill has drawn both endorsements and opposition in recent days, and a small number of senators have raised ethical objections to a vote. Lawmakers continue negotiating unresolved language as they attempt to finalize a text that can clear the Senate before the summer recess.
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