Prediction market traders now put the odds of the Clarity Act being signed into law this year at 47%, down 18 percentage points, as the crypto industry’s flagship legislation runs out of Senate calendar.

The contract on Polymarket, which has seen more than $2.1 million of volume, was trading as high as 82% in February.

The Digital Asset Market Clarity Act would settle the question that has dogged the industry for a decade: which regulator polices which tokens.

It carves the market between the Securities and Exchange Commission, which oversees investments, and the Commodity Futures Trading Commission, which oversees commodities and derivatives, giving exchanges and issuers a rulebook to work to rather than leaving classification to…