Crypto Erupts as Polymarket’s 89% Bet on GENIUS Act Fate Sparks Firestorm
Prediction markets just threw gasoline on Washington's crypto policy debate—and traders are loving every minute of it.
The $64,000 Question: Why is Polymarket pricing in near-certain passage for legislation that hasn't even cleared committee? The 89% odds on the GENIUS Act's survival have DC insiders snickering while degens pile into yes positions.
Regulatory Roulette: This isn't just another boring bipartisan bill—it's shaping up to be the ultimate stress test for crypto's political capital. Lobbyists whisper about backroom deals, while Twitter crypto bros suddenly pretend they've read the 87-page draft.
Market Mayhem: Watch the prediction curve twitch every time a Senator mutters 'blockchain' during a fundraiser. Meanwhile, actual investors keep building through the noise—because nothing fuels adoption like watching politicians try to define Web3.
*Cynical finance jab:* Nothing unites Congress faster than the chance to regulate an industry they still think runs on hamster wheels.
Polymarket’s 89% odds on the fate of the GENIUS Act sparks controversy in the crypto space
Following the Polymarket odds, it is not yet clear if the bill would have strong enough support to pass the House in its current form, or whether lawmakers would append amendments to ease concerns about Trump’s ties to the crypto space, including World Liberty Financial’s stablecoin, USD1.
Additionally, several senators voted against a similar change before the final passage of the GENIUS Act, which sent the bill to the House.
Depending on the bill’s final version, one possible outcome is that it could open the floodgates for US companies to issue their own stablecoins to settle payments.
For instance, Tech giants like Apple and Google were said to be considering their own tokens. Concerning this, two United States senators sent questions to Meta about whether the company had similar plans once the bill potentially becomes law.
On the other hand, Trump has indicated he would sign the GENIUS Act “with no add-ons” if the House were to pass it swiftly.
In addition, Republicans hold a narrow majority in the chamber and might soon have to vote on a bill to create a framework for a crypto market structure. The CLARITY Act, a proposal the committee passed last week, would clarify US financial regulators’ responsibility over digital assets.
Meanwhile, the Polymarket odds do not necessarily predict whether United States legislators will pass the bill or President Trump will give it his signature to become a law. Instead, the prediction market displays how much crypto enthusiasts are willing to bet on one or more specific outcomes.
French Hill expresses hope in the CLARITY Act to make the US a global leader in digital assets
The US House Committee on Financial Services approved a crypto market structure bill, the Digital Asset Market Clarity (CLARITY) Act. This assured crypto enthusiasts that it will soon head to the full House for a vote.
House Financial Services Committee lawmakers voted 32 to 19 to send the CLARITY Act for a full floor vote. This came after the House Agriculture Committee advanced the bill in a 47 to 6 vote.
Congressman French Hill, who sponsored the bill, right after the vote was successful, stated that this is the second bill that Bryan Steil has skillfully led, acknowledging first with stablecoins and then with a market structure bill.
Steil, the chairman of the House Committee on Financial Services Crypto Subcommittee, acknowledged that it was a big step forward and was pleased to see that Hill’s act had made it through the House committees.
Hill mentioned that this is a chance for America to take charge of the future of Web3 on the internet, especially in financial services that use tokenized payments.
If the CLARITY Act and GENIUS Act are approved, they could bring a major change to cryptocurrency rules in the US, making the crypto world stronger.
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