The CLARITY Act has become a major regulatory focus for the crypto industry. However, Alex Tapscott, CEO of CMCC Global Capital Markets, said prediction markets may be overstating its chances of passing. While markets currently assign the bill roughly 47% to 50% odds of becoming law, Tapscott said it may struggle to secure enough bipartisan support in the Senate. 

Even so, he does not expect failure to automatically trigger a major crypto market correction.

1. The Market Has Not Priced In

Tapscott repeatedly stressed that the CLARITY Act’s passage has not been priced into broader financial markets.

“I would say it’s not priced in at all in the markets,” he said. While prediction markets may view the outcome as a coin flip and…