Polymarket's CLARITY Act odds crater 26% in a day — Democrats call ethics fix "stone-cold crazy" 🎲

The CLARITY Act's 2026 approval odds on Polymarket fell to 39%, a 26-point drop within 24 hours, as Senate Democrats publicly opposed the latest version of the crypto market structure bill. The 24-hour trade volume on the contract stood at $2.31 million. Senate Democrats homed in on a provision granting the Department of Justice authority to enforce ethics requirements, with Senator Angela Alsobrooks describing the Republican proposal as "wild and unserious and stone-cold crazy" during closed-door discussions reported by financial reporter Eleanor Mueller. Alsobrooks added that state-level attorneys general must be empowered, stating, "For many of us, that is an absolute. It's an absolute that we cannot completely rely on the DOJ given what we've seen." Within hours of the revised draft's release, seven Senate Democrats had registered opposition.

The bill drew support from a different corner when the National Fraternal Order of Police declared its endorsement of the updated draft. Senator Cynthia Lummis shared on X a letter from the organization stating that its review of the Blockchain Regulatory Certainty Act (BRCA) provision, which shields DeFi developers from user liabilities, satisfied its concerns that the language would hamper law enforcement's ability to address crypto crimes. The group had previously opposed that section of the bill. Three leading crypto industry groups also voiced support for floor consideration of the latest draft, though Republicans had not yet secured a bipartisan deal.

Before releasing the proposal, GOP staffers briefed crypto industry officials, including Coinbase CEO Brian Armstrong. Critics have pointed to unresolved questions around ethics enforcement, DeFi liability protections, and the role of state regulators as lawmakers continue negotiations.