Galaxy Digital has cut its odds of the CLARITY Act becoming law in 2026 to 50%, warning that the US Senate is running out of time to move the crypto market structure bill before its August recess.“We are reducing our odds of CLARITY Act passage in 2026 to 50-50,” wrote Galaxy’s head of firmwide research, Alex Thorn, citing the lack of a unified Senate Banking-Agriculture text, no firm floor schedule and a narrowing legislative window before lawmakers leave Washington. Thorn said the downgrade was about the bill’s timing, not substance and added that the congressional competition for floor time “intensified” after…

In a special America 250 issue, Reason takes a look back at our country’s founding people and ideas. Read more here. Joanna Andreasson “No bigger than half a piece of soap” was how history remembered the diminutive James Madison, who weighed barely a hundred pounds. At 5 feet, 4 inches tall, he would later become the shortest American president ever. Yet firearms are the great equalizer, and in June 1775, two months after the American Revolution had begun, Madison had no doubt that he and his fellow Virginians could take out the British redcoats. In a letter to Rhode Island…

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