INSUBCONTINENT EXCLUSIVE:
Cryptocurrency users are betting on the odds that US legislation to regulate payment stablecoins will move forward, following a crucial vote
Polymarket shows an 89% chance of the Guiding and Establishing National Innovation for US Stablecoins, or GENIUS Act, passing the US Senate
and House of Representatives and being signed into law by the president before 2026
The Polymarket bet seemed to have been launched roughly 18 hours after the bill passed in the Senate in a 68-30 vote on Tuesday.Betting on
the GENIUS Act as of Thursday
A majority of senators voted against a similar amendment before the final passage of the GENIUS Act, which moved the legislation to the
Tech giants like Apple and Google were reportedly considering their own tokens, and two US senators forwarded questions to Meta on whether
the company might have the same plans if the bill were to be signed into law.Related: Polymarket faces scrutiny over $7M Ukraine mineral
Republicans have a slim majority in the chamber and may soon face a floor vote on a bill to establish a crypto market structure framework
The CLARITY Act, which passed out of committee last week, could clarify the roles US financial regulators would have over digital
assets.Odds on Polymarket do not necessarily offer insight as to whether US lawmakers will pass the bill or Trump will sign it into law
Rather, the platform shows how much some crypto users are willing to wager on one or more particular outcomes
