The Digital Asset Market Clarity Act advances amid ethics concerns and calls for regulatory clarity on sports betting oversight.
The US Senate is expected to vote on the Digital Asset Market Clarity Act in the coming weeks, following its advancement by the Senate Banking Committee in May. The legislation aims to provide regulatory clarity for digital assets but faces hurdles due to lawmakers’ demands for additional ethics provisions.
Gambling industry groups have urged the Senate to exclude sports betting from the Commodity Futures Trading Commission’s oversight under the bill. The CFTC has asserted jurisdiction over prediction markets like Kalshi and Polymarket, complicating the bill’s passage. No floor vote has been scheduled as of Tuesday.
Analysts suggest the bill could pass before the Senate’s August recess, though its final form remains uncertain due to ongoing negotiations.