Polymarket "Stablecoin regulation bill 'GENIUS bill', 89% chance of enactment this year"

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Two days after Senate approval, Polymarket betting "89% legislation this year" Betting
Some say "GENIUS Bill difficult to pass House without clause modification"

Source=Block Street Reporter Jung Ha-yeon
Source=Block Street Reporter Jung Ha-yeon
On the 19th, Polymarket bet the House passage of the GENIUS Bill, President Trump's signature, and the resulting legislative possibility at approximately 89%. This probability was calculated in a market opened about 18 hours after the U.S. Senate passed the bill 68-30 on the 17th.

Polymarket's betting rate is interpreted as being calculated based on absolute support from President Donald Trump for the GENIUS Bill. On the 19th, President Trump posted on his SNS 'Truth Social', "I am ready to sign without additional clauses" and "I hope the House passes this bill at the speed of light and brings it to my desk".

According to reports, there is a possibility of some modifications to the GENIUS Bill clauses in future House discussions. This is because some House representatives have raised concerns about Trump's potential conflicts of interest with cryptocurrency companies, making the smooth passage of the GENIUS Bill uncertain. The Senate has already rejected similar amendments.

If the GENIUS Bill passes in its current form, U.S. companies will be able to issue their own stablecoins and use them as payment methods. Apple and Google, among other major U.S. tech companies, are considering issuing their own cryptocurrencies, and some senators have reportedly sent inquiries about Meta's similar plans. World Liberty Financial, a cryptocurrency company associated with President Trump, has also recently announced the launch of a stablecoin called 'USD1'.

Reporter Jung Ha-yeon yomwork8824@blockstreet.co.kr

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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