If crypto market structure become law before Jan 1, 2026, then the market resolves to Yes.

For purposes of this Contract, "crypto market structure legislation" means any bill that: (1) Establishes a comprehensive regulatory framework for digital assets, cryptocurrencies, or virtual currencies (but not solely for stablecoins); AND (2) Delineates regulatory authority between federal agencies (such as the SEC, CFTC, or others) for oversight of digital assets; AND (3) Creates definitions, classifications, or categories for when digital assets are considered securities, commodities, or other regulatory classifications. The following would NOT satisfy the Payout Criterion: Bills that solely regulate stablecoins without addressing broader crypto market structure; Bills that only ban or restrict specific crypto activities without creating a regulatory framework; Bills that only address Central Bank Digital Currencies (CBDCs); Appropriations bills that merely fund crypto-related activities; Bills that only address crypto taxation without market structure provisions; Executive orders, regulatory guidance, or agency rules (only Congressional legislation counts); Bills that pass only one chamber of Congress; Bills that are vetoed and not overridden; State legislation of any kind. Examples that WOULD meet the Payout Criterion: The Digital Asset Market Clarity (CLARITY) Act, if passed by both chambers and signed into law; The Financial Innovation and Technology for the 21st Century Act (FIT21), if passed by both chambers and signed into law; Any omnibus bill that includes comprehensive crypto market structure provisions as described above. Examples that would NOT meet the Payout Criterion: The GENIUS Act or STABLE Act (stablecoin-only legislation); The Anti-CBDC Surveillance State Act (CBDC-specific); A bill that passes the House but not the Senate; An executive order directing agencies to study crypto regulation.

Series KXCRYPTOSTRUCTURE-26JAN Event KXCRYPTOSTRUCTURE-26JAN Market KXCRYPTOSTRUCTURE-26JAN