A bipartisan coalition of 18 state attorneys general, led by New York Attorney General Letitia James, is urging the U.S. Senate to reject the CLARITY Act unless the legislation clearly preserves state authority to police crypto-related fraud and misconduct. The Senate is preparing for a procedural vote that will determine whether the bill advances to debate, while prediction-market pricing cited in the update puts the odds of the measure being signed into law in 2026 at 27.5% YES. The opposition adds to the bill's legislative hurdles and has contributed to weaker market expectations for passage. The attorneys general argue that provisions in the latest draft could enable challenges to state enforcement actions or preempt state securities and commodities authority. The CLARITY Act would establish a federal digital-asset market framework, clarify regulatory boundaries between the Securities and Exchange Commission and Commodity Futures Trading Commission, and impose registration requirements on certain crypto intermediaries. The measure remains pending and has not become law. The vote will also test support from key lawmakers, including President Trump and Senate Banking Committee Chairman Tim Scott, while further statements from state attorneys general and federal lawmakers could affect market expectations.