US Senate · Donald Trump · CLARITY Act · US Congress · White House · Cointelegraph
Several state authorities have filed suits against prediction markets
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Alleging that the companies offer illegal bets on sporting events without a license.
Key facts
- The price of Bitcoin dropped under $73,000 from more than $74,000 in the hours following Trump’s pledge to “never let crypto down
- Wednesday's Truth Social post followed Trump's comments that reiterated claims made by Commodity Futures Trading Commission (CFTC) Chair Michael Selig, also the president’s pick to head the agency
- US President Donald Trump said Wednesday that he intended to codify a “future-proof digital asset market structure,” likely referring to the Digital Asset Market Clarity Act (CLARITY)
- Trump’s remarks echoed those of his hand-picked chair of the US Securities and Exchange Commission (SEC), Paul Atkins, who in October said the agency would work to future-proof “future potential
Summary
The future of a digital asset market structure bill in Congress is still uncertain amid concerns over ethics provisions, with the president, whose crypto ties are under scrutiny, weighing in on social media. US President Donald Trump said Wednesday that he intended to codify a “future-proof digital asset market structure,” likely referring to the Digital Asset Market Clarity Act (CLARITY) under consideration in the US Senate. In a post to his Truth Social platform for the second time this week on policy claims potentially affecting the cryptocurrency industry, Trump said the law would prevent “crypto haters” in future administrations from rolling back regulations affecting digital assets. Since its passage by the US House of Representatives in July 2025, the CLARITY Act has faced months of delays in the Senate amid government shutdowns, pushback from crypto and banking industry representatives and concerns over conflicts of interest, including those involving the Trump family.