Polymarket Predicts High Likelihood for US Stablecoin Bill Enactment
Polymarket, an online betting platform, has set the odds at 89% for the GENIUS Act, a bill aimed at regulating payment stablecoins in the United States, to be enacted by 2026. This prediction follows the bill’s passage in the Senate with a 68-30 vote and public support from President Donald Trump.
Uncertainty in the House of Representatives
The GENIUS Act faces an uncertain future in the House. Potential amendments and concerns over President Trump’s ties to the crypto industry, including World Liberty Financial’s stablecoin USD1, may shape the final bill. Senators previously rejected a similar amendment before advancing the legislation.
Potential Impact on Major Tech Companies
If enacted, the GENIUS Act could allow US corporations like Apple and Google to issue their own stablecoins. Meta has also faced questions about potential plans under the proposed law.
Understanding Polymarket’s Predictive Market
While Polymarket’s odds don’t guarantee legislative outcomes, they reflect cryptocurrency users’ willingness to bet on regulatory developments. The platform opened its GENIUS Act market shortly after the Senate vote.
Related Regulatory Developments
The CLARITY Act, recently approved by committee, may help define US financial regulators’ roles regarding digital assets. Together with the GENIUS Act, these measures represent progress toward a comprehensive cryptocurrency framework.
