# Will the US ban CBDC in 2026?

Before Jan 1, 2027

Updated: May 8, 2026

Category: Politics

Tags: Congress

HTML: /markets/politics/congress/will-the-us-ban-cbdc-in-2026/

## Short Answer

**Key takeaway.** Both the **model** and the **market** expect the US to ban CBDC in 2026, with no compelling evidence of mispricing.

## Key Claims (January 2026)

**- - Executive branch explicitly opposes a CBDC and takes prohibitive actions.** - House passed H.R. 1919, the 'Anti-CBDC Surveillance State Act'.
- House's H.R. 1919 awaits consideration in the Senate.
- Cryptocurrency and fintech industries significantly increased federal lobbying.
- Ranking Member Maxine Waters actively opposes a CBDC ban.
- Macroeconomic shocks may compel Senate to prioritize a CBDC ban vote.

### Why This Matters (GEO)

- AI agents extract claims, not arguments.
- Improves citation probability in summaries and answer cards.
- Enables fact stitching across multiple sources.

## Executive Verdict

**Key takeaway.** **Model** and **market** probabilities align at **49%** (2.0x payout), with executive and legislative action pushing for a ban.

### Who Wins and Why

| Outcome | Market | Model | Why |
| --- | --- | --- | --- |
| Yes | 49.0% | 49.0% | Congress may pass legislation prohibiting a US central bank digital currency. |

## Model vs Market

- Model Probability: 49.0% (Yes)
- Market Probability: 49.0% (Yes)
- Yes refers to: Yes
- Edge: +0.0pp
- Expected Return: +0.0%
- R-Score: 0.00
- Total Volume: $9,540.74
- 24h Volume: $3,747.66
- Open Interest: $3,712.66

- Expiration: January 1, 2027

## Market Behavior & Price Dynamics

This prediction market has experienced a significant upward trend, with the probability of a US CBDC ban in 2026 rising from a low of 17.0% to a current price of 48.0%. The most dramatic movement was a 26.0 percentage point spike on May 06, 2026, which saw the price jump from 21.0% to 47.0%. According to the provided context, this sharp increase occurred despite recent reports that legislative efforts in Congress had "fell short." The market's price action seems to be disconnected from or ahead of the publicly available news regarding the progress of bills like H.R. 1919, which is reported to have passed the House but has not become law.

The total trading volume of 9,127 contracts indicates a moderate level of market participation and conviction over the life of the contract. The chart's price action suggests an initial support level around the 17.0% mark, where the market began. After the spike, the price has consolidated in the 47.0%-48.0% range, which appears to be forming a new support level. The market's peak of 56.0% represents the current resistance level that traders have so far been unwilling to push beyond.

Overall, the chart suggests a strong shift in market sentiment. Traders have moved from viewing a 2026 CBDC ban as a low-probability event to pricing it as nearly a 50/50 possibility. The upward trend and the significant, unexplained price spike indicate that traders are increasingly anticipating a ban will happen before the Jan 1, 2027 resolution date, despite the legislative process remaining incomplete in the Senate.

## Significant Price Movements

#### 📈 May 06, 2026: 26.0pp spike

Price increased from 21.0% to 47.0%

**Outcome:** Yes

**What happened:** The 26.0 percentage point spike in the "Yes" outcome on May 06, 2026, is not directly supported by the traditional news available. Reports on May 04, 2026, indicated that conservative efforts to pass a CBDC-barring measure "fell short" in Congress and were considered "dead on arrival" in the Senate [[^]](https://www.aol.com/articles/crypto-fight-center-fisa-extension-100000846.html), which would typically decrease the probability of a ban. While the House had advanced H.R. 1919 to the Senate on April 29, 2026 [[^]](https://www.majoritywhip.gov/news/documentsingle.aspx?DocumentID=4148), the subsequent negative news makes this an unlikely sole driver for the spike. Without specific social media activity or alternative news releases on or immediately prior to May 06 that promoted the likelihood of a ban, the primary driver for this market movement cannot be definitively identified from the provided information. Social media appears irrelevant given the absence of any cited posts.

## Contract Snapshot

This market resolves to 'Yes' if legislation banning the Federal Reserve from studying, developing, or issuing a central bank digital currency becomes law after its issuance (May 5, 2026) and after January 1, 2027. Conversely, it resolves to 'No' if such legislation does not pass, or if a presidential pocket veto expires; note the market closes by January 1, 2027, at 10:00am EST. Verification of law status (requiring full chamber passage and presidential signature or veto override) will be from the White House and Library of Congress.

## Market Discussion

Legislation aimed at prohibiting the Federal Reserve from issuing a CBDC, H.R.1919, passed the House in July 2025 and advanced in the Senate in late April 2026 [[^]](https://www.majoritywhip.gov/news/documentsingle.aspx?DocumentID=4148)[[^]](https://www.congress.gov/bill/119th-congress/house-bill/1919)[[^]](https://emmer.house.gov/media-center/press-releases/whip-emmer-s-cbdc-ban-legislation-sent-to-senate)[[^]](https://cloud.house.gov/positions/anti-cbdc-surveillance-state-act). Additionally, a reported Senate housing compromise, which passed with an 84-6 vote, includes a CBDC ban that would prevent the Federal Reserve from issuing a digital dollar until December 31, 2030 [[^]](https://www.cointribune.com/en/the-us-senate-includes-a-ban-on-cbdcs-in-a-major-housing-reform/)[[^]](https://blocknow.com/cbdc-us-freezes-digital-dollar-plans-until-2030-crypto-rails-win-big/)[[^]](https://coinmarketcap.com/academy/article/congress-moves-closer-to-making-fed-cbdc-ban-permanent). While these legislative efforts suggest movement towards a ban, broader prediction market sentiment tends to focus on the availability of a retail CBDC before 2031 rather than a specific 2026 ban [[^]](https://manifold.markets/foresightbureau/will-a-retail-cbdc-central-bank-dig).

## Market Data

| Contract | Yes Bid | Yes Ask | Last Price | Volume | Open Interest |
| --- | --- | --- | --- | --- | --- |
| Yes | 49% | 50% | 49% | $9,540.74 | $3,712.66 |

## What potential macroeconomic shocks or international digital currency developments in 2026 could compel the Senate to prioritize a vote on a CBDC ban?

Potential Senate CBDC Ban Vote | Prioritized in 2026 [[^]](https://www.reuters.com/world/asia-pacific/china-led-cross-border-digital-currency-platform-sees-surge-2026-01-16/)[[^]](https://www.richmondfed.org/publications/research/economic_brief/2026/eb_26-12)[[^]](https://www.bbc.com/news/articles/cp3p5l0nyevo) |
House-Passed CBDC Ban Legislation | H.R. 1919, Anti-CBDC Surveillance State Act [[^]](https://www.congress.gov/bill/119th-congress/house-bill/1919) |
Temporary Retail CBDC Ban | Until Dec 31, 2030, via Senate housing package provision [[^]](https://www.coindesk.com/policy/2026/03/02/u-s-senate-housing-bill-includes-cbdc-ban) |

**The Senate may prioritize a CBDC ban vote in 2026 due to macroeconomic shocks**

The Senate may prioritize a CBDC ban vote in 2026 due to macroeconomic shocks. Bank failures, often linked to weak capital, earnings, and risky asset portfolios, could accelerate during rapid runs, making "digital money" deployment a politically salient issue during periods of financial stress in 2026 [[^]](https://www.richmondfed.org/publications/research/economic_brief/2026/eb_26-12). A "major macroeconomic shock" combined with issues in private credit and repricing of risky assets could lead to recession or financial turmoil, potentially prompting policymakers to quickly enact structural payment reforms or prohibitions [[^]](https://www.bbc.com/news/articles/cp3p5l0nyevo).

International digital currency progress intensifies U.S. CBDC policy urgency. In January 2026, a China-led cross-border digital currency platform experienced a surge, indicating expanding global "digital currency" infrastructure [[^]](https://www.reuters.com/world/asia-pacific/china-led-cross-border-digital-currency-platform-sees-surge-2026-01-16/). An International Monetary Fund assessment in 2025 highlighted active CBDC exploration globally, particularly for wholesale and cross-border uses, suggesting that international progress in 2026 could be perceived by U.S. lawmakers as a rapidly evolving competitive landscape [[^]](https://www.imf.org/en/publications/policy-papers/issues/2025/11/20/central-bank-digital-currency-further-navigating-challenges-and-risks-571953). This potential urgency would build on existing legislative momentum, including the House-passed H.R. 1919, the Anti-CBDC Surveillance State Act, which aims for Senate passage [[^]](https://www.congress.gov/bill/119th-congress/house-bill/1919). Furthermore, a provision in a Senate housing package would temporarily prevent the Federal Reserve from issuing a retail CBDC until December 31, 2030 [[^]](https://www.coindesk.com/policy/2026/03/02/u-s-senate-housing-bill-includes-cbdc-ban). House Majority Whip Tom Emmer has publicly argued that CBDCs threaten privacy and freedom, advocating for Senate approval of an accompanying CBDC ban measure [[^]](https://www.majoritywhip.gov/news/documentsingle.aspx?DocumentID=4148).

## What do Federal Reserve reports and Treasury official statements from 2025-2026 indicate about the executive branch's perceived need for a CBDC?

Executive Order Date | Jan 23, 2025 (EO 14178 signed, revoking EO 14067 and directing rescission of Treasury's 2022 framework) [[^]](https://www.whitehouse.gov/presidential-actions/2025/01/strengthening-american-leadership-in-digital-financial-technology/)[[^]](https://public-inspection.federalregister.gov/2025-02123.pdf) |
Agency CBDC Actions | Agencies are prohibited from establishing, issuing, or promoting CBDCs (except as required by law) [[^]](https://www.whitehouse.gov/presidential-actions/2025/01/strengthening-american-leadership-in-digital-financial-technology/) |
Federal Reserve Stance | Does not intend to proceed with CBDC issuance without clear support from the executive branch and Congress [[^]](https://www.congress.gov/crs_external_products/IF/PDF/IF11471/IF11471.4.pdf) |

**The executive branch explicitly opposes a Central Bank Digital Currency (CBDC), demonstrating this stance through definitive actions to prohibit related agency initiatives**

The executive branch explicitly opposes a Central Bank Digital Currency (CBDC), demonstrating this stance through definitive actions to prohibit related agency initiatives. On January 23, 2025, Executive Order 14178 was signed, which revoked Executive Order 14067 and directed the rescission of the Treasury's July 7, 2022 'Framework for International Engagement on Digital Assets' [[^]](https://www.whitehouse.gov/presidential-actions/2025/01/strengthening-american-leadership-in-digital-financial-technology/)[[^]](https://public-inspection.federalregister.gov/2025-02123.pdf). This executive order explicitly prohibits agencies from establishing, issuing, or promoting CBDCs, or continuing existing CBDC plans, unless legally mandated [[^]](https://www.whitehouse.gov/presidential-actions/2025/01/strengthening-american-leadership-in-digital-financial-technology/). A Treasury fact sheet from 2025 further corroborated that the 2022 framework no longer reflects current U.S. Treasury or U.S. Government policy regarding digital assets [[^]](https://home.treasury.gov/news/press-releases/jy0854).

The Federal Reserve requires clear executive and congressional support for CBDC development, viewing it as a critical condition for any potential issuance. According to an April 10, 2025, CRS In Focus report, the Federal Reserve does not intend to proceed with a CBDC without clear support from both the executive branch and Congress, ideally formalized through specific authorizing legislation [[^]](https://www.congress.gov/crs_external_products/IF/PDF/IF11471/IF11471.4.pdf). This position is consistent with earlier Federal Reserve statements that emphasized broad public and cross-governmental support as a prerequisite for advancing toward a CBDC [[^]](https://www.federalreserve.gov/publications/january-2022-cbdc.htm)[[^]](https://www.congress.gov/crs_external_products/IF/PDF/IF11471/IF11471.4.pdf). Furthermore, congressional materials from 2026 highlight ongoing legislative efforts to ban the Federal Reserve from issuing a CBDC, with proposed legislation designed to codify the January 2025 executive order and prevent future administrations from utilizing a CBDC as a 'surveillance state' tool [[^]](https://www.majoritywhip.gov/news/documentsingle.aspx?DocumentID=4148)[[^]](https://cloud.house.gov/positions/anti-cbdc-surveillance-state-act).

## How do the provisions and legislative support for the House's 'Anti-CBDC Surveillance State Act' (H.R. 1919) compare to the Senate's 'No CBDC Act' (S.464)?

H.R. 1919 House Passage Date | July 17, 2025 [[^]](https://www.majoritywhip.gov/news/documentsingle.aspx?DocumentID=4148) |
H.R. 1919 House Vote Count | 219–210 [[^]](https://www.majoritywhip.gov/news/documentsingle.aspx?DocumentID=4148) |
S. 464 Introduction Date | February 6, 2025 [[^]](https://www.govtrack.us/congress/bills/119/s464/text) |

**Both House and Senate bills aim to restrict U.S**

Both House and Senate bills aim to restrict U.S. central bank digital currency. The House's 'Anti-CBDC Surveillance State Act' (H.R. 1919) and the Senate's 'No CBDC Act' (S.464) share the overarching goal of limiting the development and implementation of a U.S. central bank digital currency (CBDC). However, H.R. 1919 has demonstrated greater legislative momentum, having passed the House on July 17, 2025, by a vote of 219–210 and is currently awaiting consideration in the Senate as of April 29, 2026 [[^]](https://www.majoritywhip.gov/news/documentsingle.aspx?DocumentID=4148)[[^]](https://www.congress.gov/bill/119th-congress/house-bill/1919/all-actions). In contrast, S.464, which was introduced on February 6, 2025, remains in a Senate committee [[^]](https://www.govtrack.us/congress/bills/119/s464/text)[[^]](https://www.congress.gov/bill/119th-congress/senate-bill/464/all-info)[[^]](https://www.govtrack.us/congress/bills/119/s464).

H.R. 1919 broadly prohibits Federal Reserve CBDC development and use. Specifically, H.R. 1919 explicitly bars the Board of Governors and the Federal Open **Market** Committee (FOMC) from employing a CBDC for monetary policy objectives. Furthermore, it prohibits these entities from engaging in the testing, studying, development, creation, or implementation of a CBDC [[^]](https://www.govtrack.us/congress/bills/119/hr1919/text/rh)[[^]](https://www.govinfo.gov/content/pkg/BILLS-119hr1919rh/html/BILLS-119hr1919rh.htm)[[^]](https://www.govinfo.gov/content/pkg/BILLS-119hr1919eh/html/BILLS-119hr1919eh.htm). The bill does include an exception for “dollar-denominated” open, permissionless, private currencies, provided they uphold the same privacy protections as U.S. coins and physical currency [[^]](https://www.govtrack.us/congress/bills/119/hr1919/text/rh)[[^]](https://www.govinfo.gov/content/pkg/BILLS-119hr1919rh/html/BILLS-119hr1919rh.htm)[[^]](https://www.govinfo.gov/content/pkg/BILLS-119hr1919eh/html/BILLS-119hr1919eh.htm).

S.464 specifically targets direct CBDC issuance to individuals and related services. The 'No CBDC Act,' as introduced, seeks to amend the Federal Reserve Act to prevent Federal Reserve banks, the Board of Governors, the Treasury, and other agencies from minting or issuing a CBDC directly to individuals, including through custodial intermediaries [[^]](https://www.govtrack.us/congress/bills/119/s464/text). It also prohibits these entities from offering products or services related to CBDCs to individuals or maintaining accounts on their behalf. Additionally, S.464 places constraints on the Federal Reserve's balance-sheet holdings and its use of U.S.-government-minted digital currencies as assets [[^]](https://www.govtrack.us/congress/bills/119/s464/text).

## What data is available on financial and tech industry lobbying expenditures related to CBDC and digital currency legislation for the 119th Congress?

Crypto Industry Federal Lobbying (H1 2025) | Over $18.4 million [[^]](https://readsludge.com/2025/07/23/crypto-industry-is-spending-more-on-lobbying-than-ever/)[[^]](https://www.americanbanker.com/news/fintech-and-crypto-are-having-a-moment-in-the-119th-congress) |
Total In-House Lobbying (119th Congress) | $654,329 [[^]](https://legis1.com/news/digital-chamber-lobbying-spending-increases-q1) |
Record Quarterly Lobbying Spending | $221,229 in Q1 2026 [[^]](https://legis1.com/news/digital-chamber-lobbying-spending-increases-q1)[[^]](https://legis1.com/news/crypto-regulation-lobbying-digital-chamber) |

**The cryptocurrency and financial technology (fintech) industries significantly increased their federal lobbying efforts**

The cryptocurrency and financial technology (fintech) industries significantly increased their federal lobbying efforts. The cryptocurrency industry spent over **$18.4** million in the first half of 2025, advocating for "light-touch" regulation and legislative success [[^]](https://readsludge.com/2025/07/23/crypto-industry-is-spending-more-on-lobbying-than-ever/)[[^]](https://www.americanbanker.com/news/fintech-and-crypto-are-having-a-moment-in-the-119th-congress). Concurrently, major fintech companies, including Chime, PayPal, and Block, also escalated their lobbying expenditures, focusing on broader issues like banking, cryptocurrency, and artificial intelligence [[^]](https://www.bankingdive.com/news/fintech-lobbying-legislation-taxes-banking-crypto-ai-chime-paypal-block-earnin-moneylion/724283/)[[^]](https://www.tucsonsentinel.com/nationworld/report/081924_2024_lobbying/major-fintech-companies-ramp-up-2024-lobbying-spending/).

Lobbying trends during the 119th Congress showed an upward trajectory in expenditures. Quarterly lobbying expenditures culminated in a record high of **$221,229** in Q1 2026 [[^]](https://legis1.com/news/digital-chamber-lobbying-spending-increases-q1)[[^]](https://legis1.com/news/crypto-regulation-lobbying-digital-chamber). Over this period, total in-house spending reached **$654,329** [[^]](https://legis1.com/news/digital-chamber-lobbying-spending-increases-q1). The Digital Chamber was a prominent advocate, concentrating on establishing a comprehensive federal regulatory framework for digital assets, stablecoin regulation, and **market** structure clarity [[^]](https://legis1.com/news/digital-chamber-lobbying-spending-increases-q1)[[^]](https://legis1.com/news/crypto-regulation-lobbying-digital-chamber). They actively lobbied on key legislation, such as the Digital Asset **Market** Clarity Act of 2025 and the GENIUS Act, with the latter becoming law [[^]](https://legis1.com/news/digital-chamber-lobbying-spending-increases-q1)[[^]](https://legis1.com/news/crypto-regulation-lobbying-digital-chamber)[[^]](https://readsludge.com/2025/07/23/crypto-industry-is-spending-more-on-lobbying-than-ever/).

External lobbying firms also reported expenditures related to digital currency legislation. In Q1 2026, Chapman and Cutler LLP reported **$10,000** for "digital currency clarity legislation," and Fulcrum Public Affairs LLC reported an additional **$10,000** for their work on "digital assets and blockchain technology" [[^]](https://legis1.com/news/digital-chamber-lobbying-spending-increases-q1). However, the research did not provide specific details on lobbying expenditures directly related to Central Bank Digital Currency (CBDC) legislation.

## What are the primary arguments and who are the key political and financial figures advocating against a CBDC ban in 2026?

Key Opponent of CBDC Ban | Maxine Waters [[^]](https://democrats-financialservices.house.gov/news/documentsingle.aspx?DocumentID=411512) |
Argument 1 Against Ban | Stifles U.S. innovation and international competitiveness [[^]](https://democrats-financialservices.house.gov/news/documentsingle.aspx?DocumentID=411512) |
Argument 2 Against Ban | Undermines federal agency fighting inflation [[^]](https://democrats-financialservices.house.gov/news/documentsingle.aspx?DocumentID=411512) |

**House Financial Services Ranking Member Maxine Waters opposes a CBDC ban**

House Financial Services Ranking Member Maxine Waters opposes a CBDC ban. Ranking Member Maxine Waters is a key political figure actively advocating against a potential Central Bank Digital Currency (CBDC) ban in 2026. She has explicitly opposed an anti-CBDC bill on the House floor. The available research identifies Waters as the sole political figure explicitly advocating against such a ban [[^]](https://democrats-financialservices.house.gov/news/documentsingle.aspx?DocumentID=411512).

Waters argues a ban stifles innovation and undermines agencies. Ranking Member Waters contends that enacting a CBDC ban would stifle U.S. innovation and competitiveness on an international scale [[^]](https://democrats-financialservices.house.gov/news/documentsingle.aspx?DocumentID=411512). Furthermore, she states that such legislation would undermine the federal agency most critical for combating inflation. These points constitute the primary arguments presented against a CBDC ban, and the research indicates they are the only arguments specified in opposition [[^]](https://democrats-financialservices.house.gov/news/documentsingle.aspx?DocumentID=411512).

## What Could Change the Odds

**On 2026-04-29, House Majority Whip Tom Emmer stated that the House advanced H.R.** 1919 (“Anti-CBDC Surveillance State Act”) to the U.S. Senate, and it “awaits consideration in the Senate” [[^]](https://www.majoritywhip.gov/news/documentsingle.aspx?DocumentID=4148). This measure was passed by the House on 2025-07-17 [[^]](https://www.congress.gov/bill/119th-congress/house-bill/1919). H.R. 1919 is tracked as a 119th Congress bill (2025–2026) [[^]](https://www.congress.gov/bill/119th-congress/house-bill/1919).

**On 2026-03-12, the U.S.** Senate approved a housing bill that contained an additional provision banning the Federal Reserve from issuing a CBDC until at least the end of 2030; the House’s response to this bill was described as uncertain [[^]](https://www.coindesk.com/policy/2026/03/12/u-s-senate-votes-to-ban-cbdcs-in-housing-bill-that-may-face-trouble-in-the-house). A standalone Senate CBDC-limiting bill, S.464 (“No CBDC Act”), was “Introduced” on 02/06/2025 but is not enacted [[^]](https://www.congress.gov/bill/119th-congress/senate-bill/464/text). The existence of a prediction **market** explicitly asking “Will the US ban CBDC this year?” on Kalshi with a 2026 resolution date of May 26 suggests that traders view calendar-2026 as an actionable resolution window [[^]](https://kalshi.com/markets/kxcbdcban/will-the-us-ban-cbdc/kxcbdcban-26may).

## Key Dates & Catalysts

- **Expiration:** January 01, 2027
- **Closes:** January 01, 2027

## Decision-Flipping Events

- On 2026-04-29, House Majority Whip Tom Emmer stated that the House advanced H.R.
- 1919 (“Anti-CBDC Surveillance State Act”) to the U.S.
- Senate, and it “awaits consideration in the Senate” [^] .
- This measure was passed by the House on 2025-07-17 [^] .

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## Historical Resolutions

No historical resolution data available for this series.

## Disclaimer

This content is for informational and educational purposes only and does not constitute financial, investment, legal, or trading advice.
Prediction markets involve risk of loss. Past performance does not guarantee future results.
We are not affiliated with Kalshi or any prediction market platform. Market data may be delayed or incomplete.

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