Senate Republicans reject Democrats' CLARITY Act counterproposal ahead of cloture vote

  • Senate Republicans rejected Democrats’ CLARITY Act counterproposal before Tuesday’s cloture vote.
  • Polymarket odds fell to 12% ahead of the 2:15 p.m. vote.
  • Tuesday’s vote opens debate; final passage requires a simple majority after procedural hurdles.

Senate Republicans rejected Democrats’ CLARITY Act counterproposal ahead of a 2:15 p.m. cloture vote, while Polymarket odds fell to 12% after reaching 35% on Sunday and 16% as Democratic opposition grew. Republicans say they made 126 changes to address concerns, but Sen. Tim Scott’s office accused Democrats of moving the goalposts. Senators Mark Warner and Ruben Gallego criticized the revised ethics provisions, while Sen. Kirsten Gillibrand privately urged support for the procedural motion and Sen. Cynthia Lummis said Republicans had no more concessions to offer. Treasury Secretary Scott Bessent backed the bill, saying it gives Treasury more authority to pursue evasion. Eight banking trade groups warned that stablecoin reward loopholes remain, while the Indian Gaming Association opposed provisions affecting tribal gaming sovereignty. Coinbase and Blockchain Association CEO Summer Mersinger urged senators to support the legislation. Tuesday’s cloture vote would only open debate and amendments; final passage would require another procedural threshold if opponents filibuster and then a simple majority.

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