When Will the CLARITY Act Become a Law? See the Latest from Prediction Markets

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• The Digital Asset Market Clarity Act (CLARITY Act) is moving through Congress, with the future of digital asset regulation set to be significantly impacted by whether the Senate passes it in a floor vote set for Sept. 15
• Given how ingrained digital assets — particularly crypto — have become in the global economy, the CLARITY Act would craft a regulatory framework for digital assets delineating how they are handled by the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC)
• Prediction markets are keeping track of the progress of the CLARITY Act, giving users the chance to weigh in as to when it will become law

Crypto and other digital assets are often referenced in “Wild West” terminology due to their relative newness and the lack of comprehensive government regulation and oversight to protect investors, consumers and, by extension, a growing chunk of the global economy.

That is not hyperbole. Instances of fraud are rampant, with the most prominent being Sam Bankman-Fried’s FTX. Its collapse, after a massive marketing campaign rife with celebrities and business titans, caused tremors and a near financial tsunami that was muted only because banking institutions were generally unexposed due to their limited direct involvement with crypto. Still, the likes of Tom Brady and Larry David were caught up in the blast zone after their high-profile involvement in the aforementioned advertisements.