Gambling groups press CLARITY ban as MiCA, CBDC deadlines loom

Gambling industry and tribal organizations asked the US Senate to add language to the Digital Asset Market Clarity (CLARITY) Act that would prohibit sports and casino-style prediction-market contracts. The groups want the bill to make clear such event contracts cannot be offered on prediction-market platforms.

The coalition includes the Indian Gaming Association, the American Gaming Association, several tribal groups and labor organizations. In a letter to senators, the groups wrote, “While our organizations may differ on other issues, including gambling policy, we are united in our concern that prediction markets have fueled the largest expansion of gambling in US history over the past 18 months — without voter approval or legislative authorization.” The letter asks lawmakers to confirm that sports betting falls outside the Commodity Futures Trading Commission’s remit for digital asset markets.

The Commodity Futures Trading Commission, led by Chair Michael Selig, has asserted exclusive jurisdiction over prediction markets. The CFTC has supported platforms such as Kalshi and Polymarket as those services face enforcement actions from state gaming regulators. The competing claims highlight a dispute between federal oversight and state-level enforcement of gambling rules.

In Europe, the Markets in Crypto-Assets regulation, known as MiCA, requires crypto firms to obtain authorization to serve customers in the European Union by July 1. BitGo Europe launched a crypto-as-a-service platform aimed at helping exchanges and other firms maintain operations while they seek MiCA approval. BitGo chief executive Mike Belshe said, “We can help keep you moving safely and compliantly.” The approaching deadline and indications that Greek regulators may reject Binance’s license application have raised uncertainty for some large exchanges.

In Washington, House and Senate leaders released an updated version of the 21st Century Road to Housing Act that retains a provision barring the Federal Reserve from issuing a central bank digital currency or any digital asset substantially similar to one until Dec. 31, 2030. The provision forbids the Fed from directly or indirectly issuing or creating a CBDC through that date. Congressional leaders plan to bring the package to a vote after the House returns from recess on June 23.

The bill’s CBDC clause follows an executive order signed in January 2025 that prohibited federal agencies from working on CBDCs, citing concerns about financial stability, privacy and national sovereignty. Previous standalone CBDC measures failed to pass Congress, and lawmakers folded the restriction into the broader housing bill.

The CLARITY Act remains under consideration in the Senate as legislators define federal authority over digital asset markets. MiCA’s authorization requirement will take effect July 1 for crypto firms operating in the EU. The housing bill combining housing provisions with a temporary CBDC ban is set to move toward a House vote later this month.