Kalshi traders see low likelihood of major crypto bill becoming law this year

A major piece of legislation that will establish a regulatory framework for cryptocurrencies is unlikely to become a law by year end, Kalshi traders speculate.

The Digital Asset Market Clarity Act, which was passed with bipartisan support in the House in July 2025, is set for a procedural vote in the Senate on Sept. 15.

The White House has been turning up the heat on lawmakers to push the legislation through, with President Donald Trump calling for Congress to pass "a fair version of the Clarity Act" just last week.

The Clarity Act would spell out a regulatory framework for digital commodities. The Securities and Exchange Commission oversees securities, while the Commodity Futures Trading Commission handles derivatives, including futures and prediction markets. Both agencies have issued guidance on crypto assets but there are no explicit boundaries on which agency tackles what.