Michael S. Selig
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CLARITY Act’s odds slide to 10% as Trump hosts Coinbase, Ripple and Wall Street exchanges
The odds of the Digital Asset Market Clarity Act being signed into law have significantly decreased, with predictions now as low as 10%. This comes as President Donald Trump is set to host executives from major crypto exchanges like Coinbase and Ripple, alongside traditional Wall Street players and regulators, for a meeting on August 19th. The bill faces challenges due to disagreements over ethics, restrictions on government officials, and stablecoin rewards, with limited time remaining in the legislative calendar.
CFTC sues three states for trying to regulate prediction markets
The Commodity Futures Trading Commission (CFTC) is suing Illinois, Arizona, and Connecticut for attempting to regulate prediction markets, asserting its exclusive jurisdiction. The CFTC views these markets as trading in futures contracts, distinct from illegal gambling, while the states argue they are overstepping their authority. The lawsuit highlights ongoing disputes over the classification and oversight of prediction markets, with potential implications for market participants and regulatory frameworks.