đ§ LATEâBREAKING NEWS | SPECIAL REPORT | DEVELOPING STORY â New York City, 02:28 AM EST â°đœâĄ
A new sportsâprediction bill has triggered shockwaves across the crypto ecosystem as the U.S. Commodity Futures Trading Commission (CFTC) faces mounting pressure to suspend roughly 320 million USD in active sportsârelated prediction markets â a move that could significantly disrupt cryptoâbased prediction platforms đ„đ.
The push comes largely from the NCAA, which urged regulators to halt these markets until stricter safeguards are in place, warning that they increasingly mirror sports betting and expose participants â especially students â to substantial risks. [sports.yahoo.com], [sports.yahoo.com]
$XRP
According to recent filings and market data, decentralized platforms such as Polymarket have seen explosive growth, with collegeâsports contracts alone accounting for an estimated $320 million in volume, raising concerns among regulators and sports bodies alike.
The billâs impact extends beyond traditional sports stakeholders, striking directly at crypto prediction markets, where liquidity, market design, and regulatory clarity now face heightened uncertainty đšđïžđ±. [sports.yahoo.com]
Analysts warn that if the CFTC proceeds with suspensions, the broader cryptoâprediction ecosystem may experience reduced participation, liquidity shocks, and tighter compliance scrutiny â potentially reshaping how traders engage with eventâbased markets across the industry đâïžđ.
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