Trump to Hear Senate Update on CLARITY Act as August Recess Nears

U.S. President Donald Trump is set to meet several senators at the White House on Thursday for a briefing on negotiations over the federal crypto market structure legislation known as the CLARITY Act. Politico reported that Senator Bernie Moreno said a group of senators will update Trump on the bill and lay out "its path to success." Senator Cynthia Lummis is also expected to attend, according to a Senate Republican aide cited by the outlet. Moreno said Trump has been closely engaged with the effort, positioning the president as a key force behind the current push. Lawmakers are working to move the CLARITY Act before the Senate's August recess, a timeline some on Capitol Hill view as the last practical window ahead of the midterm election cycle. Senator Thom Tillis told Politico he is aiming to reach agreement by the end of this week on remaining unresolved provisions, citing the need to get the measure onto the Senate floor before the break. A revised draft is expected within days. In a Wednesday interview with Fox Business, Lummis said an updated version would be introduced soon and that she expects it could reach the Senate floor next week. The schedule has taken on added importance because the bill's progress still depends on resolving outstanding issues; without language that clears remaining objections, the legislation could stall even with broad support. Prediction markets point to stronger odds of near-term procedural movement than of quick enactment. On Kalshi, traders priced a 79% chance that the Senate will vote on the CLARITY Act before the August recess, up from 68.8% the prior day. Confidence drops when the question shifts from a vote to becoming law. Kalshi data cited in the report showed a $3 million market assigning a 36% probability that the CLARITY Act becomes law in 2026 and a 62% chance it does so before the end of 2027. Polymarket placed the odds of the bill being signed into law this year at 39%. The gap between expectations for a vote and expectations for enactment reflects a familiar pattern in legislative forecasting: floor action can come quickly, while final passage, presidential signature, and downstream steps often take longer. With senators awaiting the revised text and leadership weighing floor timing, the next few days may determine whether unresolved provisions can be settled fast enough to keep the bill on track ahead of the August recess.