The GENIUS Act is great for crypto and stablecoin market cap will 10x from here ASAP because of it.
But the bill could be even better if it was decided by the people with skin in the game via futarchy rather than politicians beholden to corporate donors.
How a stablecoin bill decided by futarchy could work:
- Congress agrees stablecoins are great for America and the best measure of success for the bill is the total market cap of stablecoins.
- Many variations of the bill are proposed.
- Conditional prediction markets are created for each variation. "If Bill A passed, will total stablecoin market cap will grow from $250B to $2.5T in 3 years?"
- Anyone can put their money where their mouth is and the market decide on what the best bill is to achieve the goal.
A few years ago this was a pipe dream but Polymarket volume has grown over 23x Y/Y and it's now a go-to info source for world events. Anything is possible.