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Democratic members of the U.S. Senate Banking Committee sent a letter to the committee's chairman, Republican Senator Tim Scott, calling for a congressional hearing on prediction markets. The Democrats stated in the letter that the committee has a "critical oversight responsibility" in regulating prediction markets and emphasized that Congress should examine prediction markets through public hearings on a bipartisan basis, rather than in closed-door roundtable meetings limited to Republicans and industry-friendly discussions. Senators including Elizabeth Warren signed the letter.On the same day, Republican members of the Senate Banking Committee met with Tarek Mansour, CEO of the prediction market platform Kalshi. Scott stated in a statement to The Block that he convened Republican lawmakers to meet with Kalshi to better understand the opportunities and challenges presented by securities-linked products. The two sides discussed keeping innovation within the United States, how investors use these products, protecting retail investors, and regulatory issues that Congress should address. Kalshi did not immediately respond to a request for comment.Currently, the U.S. Commodity Futures Trading Commission (CFTC) advocates for a leading role in the regulation of prediction markets but faces opposition from various states, which claim jurisdiction over sports event contracts. The Senate Banking Committee, on the other hand, has jurisdiction over the SEC and is responsible for regulating "securities-linked products" related to prediction markets. Democrats pointed out that the bets offered by such products, which are linked to company performance metrics, may fall under the SEC's regulatory scope. It has been reported that Cboe Global Markets is seeking SEC approval for its listing of "all-or-nothing options" linked to company earnings results.

The U.S. cryptocurrency market structure bill CLARITY did not receive the required 60 votes in a procedural vote in the Senate, with a result of 49 to 50. The bill is not yet dead, as Republican lawmakers retain the option to reconsider the motion, but there are significant disagreements between the two parties on the ethical provisions related to Trump’s digital assets, and the legislative window continues to narrow.

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U.S. Senator Elizabeth Warren delivered a speech in the Senate lasting over 10 minutes, calling for a vote against the CLARITY Act. She stated that Trump and his family profited $1.4 billion from the crypto business in 2025 alone, exceeding the revenue of any publicly listed crypto company in the U.S. last year, and that buyers of his crypto projects lost billions of dollars, with meme coin buyers losing nearly $4 billion.The Senate failed to pass the procedural vote with a result of 49-50, falling short by 11 votes of the 60 needed to begin debate, with no Democrats voting to advance it. Warren claimed that the bill would exacerbate Trump's corruption and criticized the ethical terms negotiated by the Republicans with the White House as a "tiny fig leaf," stating that it would not prevent Trump from continuing to profit from crypto.Warren also stated that the bill would create a huge loophole in nearly a century of securities law, allowing non-crypto companies to put assets on-chain to evade investor protections, and enabling banks to use customer deposits for crypto lending, trading derivatives, operating nodes, and selling related software.

The U.S. Senate will conduct a procedural vote on the Digital Asset Market Clarity Act (referred to as the CLARITY Act). At 2:15 AM Beijing time on September 16, senators will decide whether to end the debate on the motion to enter the bill's review process, with a threshold of 60 votes. If the vote passes, the bill will then enter full Senate debate, amendments, and subsequent final voting, which does not equate to the bill being passed directly that night, nor does it mean it will take effect immediately.To garner bipartisan support, Senate Republicans accepted 126 substantive amendments proposed by Democrats in the final draft. The new text includes stricter ethical provisions, granting state attorneys general a clearer enforcement role; it also gives the Secretary of the Treasury the authority to intervene against potential deposit outflows triggered by payment stablecoins, and revises developer-related provisions to reduce the risk of decentralized infrastructure developers being classified as money transmission entities. Democrats are concerned that the Trump family's cryptocurrency business may create conflicts of interest, with some lawmakers hoping to add constraints such as asset divestiture or blind trusts; moderate senators like Warner and Gallego still hope to push for more amendments. Some Republican lawmakers are also under pressure from the banking industry, fearing that accounts with yield attributes linked to stablecoins could siphon off deposits from community banks.

According to Crypto in America, the U.S. Senate will hold a crucial procedural vote on the "Clarity Act" at 2:15 PM on September 15, which requires 60 votes to advance to formal debate. The Republican Party has made 126 substantive amendments to the bill at the request of the Democrats, covering ethical provisions, software developer protections, and a "circuit breaker" mechanism for stablecoin deposits, and has designated this as the "final, best, and ultimate" text.On the eve of the vote, the Democrats still proposed counter-proposals, calling for further tightening of large cryptocurrency holding limits, blockchain regulatory provisions, and exchange conflict of interest rules. Patrick Witt, Executive Director of the White House Crypto Council, expressed that he "feels good" about the voting outcome but admitted that the final result depends more on political maneuvering than on the policy itself.Eight banking industry groups, including the American Bankers Association, continue to oppose the bill, arguing that there are loopholes in the existing stablecoin yield provisions; meanwhile, the White House Council of Economic Advisers has introduced new tools to counter the banking industry's assertion that stablecoins will lead to deposit outflows.

According to a report by Reuters, U.S. Senate negotiators are discussing legislation that would require artificial intelligence companies to demonstrate that they are taking reasonable precautions to prevent their tools from causing harm. The proposal aims to grant the U.S. Secretary of Commerce the authority to require developers to provide proof of reasonable steps taken to prevent harm, referred to as "duty of care," and to authorize the dispatch of government auditors to test relevant products. Reuters was unable to immediately determine what constitutes "reasonable," and the related legislation is still under discussion.Even if Congress passes the measure, its prospects of becoming law still face significant resistance. U.S. President Donald Trump stated on Monday that existing authorities are sufficient to regulate and prosecute technology companies, suggesting that he would not sign a bill that sets new rules for artificial intelligence. Senate Majority Leader John Thune, Senate Commerce Committee Chairman Ted Cruz, and Democratic Senator Amy Klobuchar, who is involved in the negotiations, are discussing the proposal. Thune told reporters on Monday that Congress could set safeguards against more significant threats without compromising the U.S.'s leading position in the artificial intelligence race.Klobuchar stated in a statement that she is continuing to push for bipartisan legislation to oversee the greatest risks posed by artificial intelligence models, including requiring developers to work with government experts to validate and test models to ensure safety. Senior Democratic member of the Commerce Committee Maria Cantwell is also involved in the discussions. Reuters reported on Friday that negotiators are also discussing the possibility that if the government determines that certain artificial intelligence models are unsafe and wishes to prevent their release, it could be brought to federal court, where companies could challenge that decision. The portion of the measure involving federal courts would also prevent states from enforcing their own laws regarding specific risks associated with artificial intelligence models.

According to crypto journalist Eleanor Terrett, U.S. Senate Republicans have released a new version of the CLARITY Act text, referring to it as the "last, best, and final proposal" presented to Democrats before the debate vote ends on Tuesday. The new text includes several adjustments related to ethical standards, BRCA, stablecoin earnings, and provisions related to the Agriculture Committee.Among them, Trump has agreed to about 80% of the content of the Tillis-Gallego ethical standards proposal, including the sale of "significant" crypto-related financial interests or placing them in a blind trust; the stablecoin earnings section introduces a "circuit breaker mechanism," allowing federal regulators to intervene if there is a large-scale flow of community bank deposits into stablecoins, with the relevant judgment to be made by U.S. Treasury Secretary Scott Bessent. Additionally, the scope of BRCA's protections has been narrowed, and the new text further strengthens restrictions on vertical integration, including related party transactions and conflicts of interest involving digital commodity exchanges, brokers, and dealers.

According to Politico, U.S. Senate Minority Leader Chuck Schumer arranged a Democratic caucus meeting to discuss the Clarity Act on Sunday evening.The landmark cryptocurrency bill will face a Senate vote on Tuesday.

Crypto In America host Eleanor Terrett stated on X that the Republican Party of the U.S. Senate has released an updated text of the Clarity bill, reflecting changes from negotiations during the August recess.She noted that the ethical provisions section appears unchanged, and the provisions related to BRCA and stablecoin earnings remain the same.Changes include: requiring non-decentralized DeFi protocols to register with the CFTC, which aligns with Section 10301 of the Banking Committee's part of the bill; limiting DeFi provisions to spot or cash digital commodity trading, seemingly aimed at addressing tribal concerns about blockchain-based prediction markets; and clarifying the authority of credit unions to handle crypto assets.

U.S. Treasury Secretary Scott Bessent posted on the X platform, strongly urging the Senate to advance the legislative process of the cryptocurrency Clarity Act after the August recess. He stated that the bill would prevent "bad actors" from exploiting important digital asset technologies and called on all parties to stay at the negotiating table, agree to procedural motions, and continue the legislative process.Bessent warned that failing to pass the bill would send a troubling signal to allies and adversaries, indicating that the U.S. is unwilling to lead the future of digital assets and is willing to forgo national security tools to combat the abuse of digital assets. In July of this year, Bessent stated that if one wants to stand on the side of "American exceptionalism," the Clarity Act must be passed, citing remarks from Satoshi Nakamoto.The Clarity Act was passed by the House last year and aims to establish a regulatory framework that clearly delineates the regulatory classification of digital assets as securities, commodities, or stablecoins. The bill has stalled this year due to disagreements between banking lobbyists and cryptocurrency companies over stablecoin revenue issues. A new draft in July prohibits government officials from promoting cryptocurrencies or profiting from them, but some Democrats still believe the bill is inadequate and demand amendments. President Trump also urged lawmakers to push the bill through.

House Majority Whip Tom Emmer stated that the House has completed its work related to the structure of the cryptocurrency market and is pressuring the Senate to take action on the CLARITY Act. Emmer said, "The Senate must get this done."

Bitcoin News posted on platform X that the U.S. Senate plans to hold a key procedural vote on the CLARITY Act on September 15. This vote to end debate requires 60 votes in support; if it passes, the Senate will move forward with the formal consideration of the bill, but this does not mean the bill will ultimately pass.The CLARITY Act aims to establish a comprehensive federal regulatory framework for the digital asset market. Meanwhile, Commodity Futures Trading Commission Chairman Michael Selig stated that the agency can use its existing authority to advance limited cryptocurrency regulation, but this authority cannot replace the broader framework currently under consideration by Congress.

According to Cointelegraph, the California Senate passed Assembly Bill 2409 (AB 2409) with a vote of 40 to 0, followed by the California Assembly agreeing to the Senate amendments with a vote of 78 to 0. The bill has now entered the signing stage, awaiting the governor's decision.The bill will prohibit digital asset service providers from offering meme coins issued or co-issued by federal officials or state and local officials to California residents after January 1, 2027. The bill defines meme coins as digital assets whose value primarily derives from public interest, speculation, or community participation.Meanwhile, according to consumer rights organization Public Citizen, investors in the TRUMP meme coin related to former President Trump have incurred a cumulative loss of approximately $3.2 billion. The Trump family's cryptocurrency business is also considered an obstacle to the advancement of the U.S. Digital Asset Market Clarity Act (CLARITY Act).

According to CoinDesk, Coinbase CEO Brian Armstrong stated that the U.S. "Digital Asset Market Structure Clarification Act" (CLARITY Act) is expected to receive over 60 votes of support in the U.S. Senate on September 15 and is confident about passing the first key procedural vote after returning to Congress.Brian Armstrong previously mentioned that the CLARITY Act has entered its final advancement stage, and the Senate procedural vote requires 60 votes of support to push the bill forward. The bill aims to establish a regulatory framework for digital assets in the U.S., clarifying the division of responsibilities between the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) in the regulation of crypto assets. Armstrong believes that the clarification of U.S. crypto industry regulation is approaching, and whether the CLARITY Act ultimately passes or regulatory agencies advance through administrative rules, the market will welcome a clearer regulatory environment.Previously, U.S. President Trump also called on Congress to push the CLARITY Act through, believing that the bill is significant for establishing a regulatory system for digital assets and enhancing the competitiveness of the U.S. crypto industry. reuters.com However, the bill still faces controversy from some lawmakers regarding issues such as conflicts of interest and stablecoin regulation, and whether it can ultimately be successfully implemented still depends on subsequent negotiations in the Senate.

U.S. Senate Majority Leader John Thune has moved to terminate the debate procedure on advancing the Clarity for Digital Assets Markets Act (CLARITY Act) into Senate consideration, with the Senate scheduled to hold a procedural vote on September 15. The vote is expected to take place at 2:15 PM Eastern Time after the Senate reconvenes that day.The motion requires 60 votes in support, meaning Republican senators will need Democratic support to pass the procedural threshold. The two parties are currently negotiating on issues such as ethical standards and stablecoin reward rules, with related disagreements causing the bill to fail to reach consensus before the August recess.This vote only concerns whether to initiate the bill's consideration process and does not represent a final vote on the bill or guarantee its passage in the Senate. The CLARITY Act aims to establish a federal market structure for digital assets and clarify the conditions under which certain crypto assets are subject to securities or commodities laws, as well as the regulatory responsibilities of the U.S. Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission.

According to CoinDesk, U.S. Senate Majority Leader John Thune officially submitted a procedural motion for the Clarity Act after an all-night voting session on Saturday morning, initiating the first procedural voting process for the bill in the Senate. This move makes it possible for the Clarity Act to enter procedural voting immediately after the September recess, but the bill has already missed the voting window before the August recess, and passing in September still faces challenges.The Clarity Act requires at least 60 votes in support, and currently needs the backing of at least 10 Democratic senators, but there are still disagreements over the ethical clause that prohibits senior government officials (including President Trump) from participating in cryptocurrency projects. Bipartisan senators have submitted a revised proposal to the White House, but it has been on hold for at least a week without a response. Additionally, controversies surrounding illegal financial protections and stablecoin earnings remain unresolved. If the procedural vote fails in September, the chances of the Clarity Act passing this year will be extremely slim, and the new Congress in 2027 will need to reintroduce the legislation.

The U.S. Senate passed a temporary funding bill to avoid a government shutdown on the eve of the election. The vote resulted in 90 in favor and 6 against, with Senator Lindsey Graham (Republican-South Carolina) casting a vote of abstention. This does not necessarily prevent a government shutdown entirely, but it helps to avert a shutdown on October 1 (the start of the new fiscal year for the government). The House of Representatives will still need to reach a consensus on the bill after returning from recess.

According to Politico, the U.S. Senate has decided to postpone the vote on the Clarity Act until September.