Crypto World
Ethereum’s on fire with record activity, but ether price and blockchain fees lag
Ethereum’s network activity has surged to all-time highs across multiple metrics, but the growth has failed to lift ether’s price or boost fee generation at the base layer.
A weekly report from analytics firm CryptoQuant published March 10 found that daily active addresses on Ethereum approached 2 million in February 2026, exceeding peaks seen during the 2021 bull market. Active addresses are unique blockchain wallet addresses that have sent or received a transaction within a specific timeframe, like the past 24 hours
Smart contract calls, or codes on blockchain telling it to do something specific, topped 40 million per day, and token transfers driven by internal contract interactions also set records. The findings point to broad adoption across DeFi, stablecoins and automated protocol activity, even as investment demand for ether has weakened.
Record network user activity typically bodes well for the market value of the blockchain’ native token. But that’s not the case with Ethereum.
It’s native token ether is down roughly 30% over the last six months, and the one-year change in Ethereum’s realized capitalization has turned negative, indicating net capital outflows from the market.
Exchange flow data from CryptoQuant shows ether moving to trading venues at a faster rate relative to bitcoin, a pattern consistent with elevated selling pressure.
Focus on capital flows
CryptoQuant argued that capital flows, rather than network activity, now explain ETH price dynamics more effectively.
In prior cycles, particularly 2018 and 2021, rising on-chain activity coincided with price rallies. That relationship has weakened. The firm’s scatter analysis showed recent observations clustering at high activity levels but relatively low prices, suggesting incremental usage growth now has less explanatory power for ether’s valuation.
The fee picture reinforces the disconnect. Data from DefiLlama shows Ethereum generated roughly $10.3 million in transaction fees over the past 30 days, placing it third behind Tron at nearly $25 million and Solana at about $20 million.

On a revenue basis, the gap widens further. Ethereum ranked fifth in 30-day protocol revenue at $1.22 million, trailing Tron as well as Polygon, Base and Solana. Base, an Ethereum layer-2 network built by Coinbase, generated roughly three times Ethereum’s protocol revenue over the same period.

The disparity reflects the growing role of Ethereum’s layer-2 ecosystem. Networks such as Base and Polygon process large volumes of transactions while paying relatively small settlement costs back to the base chain, distributing economic activity across the broader Ethereum ecosystem rather than concentrating it on the base layer.
Stablecoins remain a bright spot for adoption. Ethereum hosts approximately $162 billion in stablecoin supply, roughly 52% of the global market, according to DefiLlama. Yet that activity has not translated into proportional value capture for ether itself.
Ethereum may be busier than ever, but the blockchain’s native asset is capturing less of the value created on top of it.
Crypto World
Internet Computer (ICP) Price Soars 16% on Upbit Listing: Details
ICP soared by 16% after being listed on South Korea’s largest exchange, but will the momentum last?
Internet Computer (ICP) saw its price explode by roughly 16% following its listing on South Korea’s largest cryptocurrency exchange, Upbit.
The altcoin’s value rose from around $2.35 to a high of $2.73 within minutes of the announcement. Trading pairs include ICP/KRW, ICP/BTC, and ICP/USDT.
In case you’re wondering, exchange listings on major centralized venues have historically led to considerable price increases for newly listed cryptocurrencies. This is especially true for altcoins with thinner market depth, where it’s easier to move the price with smaller amounts.
Upbit is currently the third-largest centralized spot exchange in the world, with a 24-hour trading volume of around $1.16 billion, according to CoinMarketCap, trailing only Binance and Coinbase.
ICP is the 47th largest cryptocurrency by means of total market capitalization ($550M) and around $147 million in 24-hour trading volume – a metric that’s a whopping 170% up in the past day, showcasing the impact of the listing.
Usually, though, these moves are not as sustainable and result in reversals, but it’s interesting to see if ICP will follow a similar path.
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Crypto World
Pi Network’s PI Token Jumps Again a Day Before Key Update Implementation
The PI token exceeded $0.23 earlier today before it retraced slightly.
The updates recently implemented by the team, as well as the upcoming ones, continue to benefit Pi Network’s underlying asset, as PI is among the few alts in the green today.
Aside from the expected completion of protocol v20.2 upgrade by tomorrow, the Pi Network community is also anticipating Pi Day – March 14.
Pi’s Upcoming Updates
The past several weeks have been quite eventful for Pi Network, especially in terms of upgrades and price movements. On February 21, the team announced that the protocol v19.6 migration was successfully completed, and the subsequent v19.9 iteration arrived on March 4.
They explained at the time that the v20.2 update was next in line, with initial deadline expectations set for March 14, which was later moved to March 12. Both of the already completed updates were followed by impressive price gains from PI, and it seems the hype about the upcoming upgrade has not disappointed so far.
Another factor that could be boosting the native token is the buildup to what became known as Pi Day, March 14, due to its symbolic resemblance to the mathematical constant π. As it happened last year, the community has hyped itself up, expecting some major announcements, perhaps a listing on a top-tier exchange such as Binance.
PI Defies Market Correction
As mentioned above, the protocol updates and perhaps anticipation for Pi Day have resulted in impressive gains for PI lately. The token is up by over 6% in the past day and sits just inches below $0.23. Moreover, it’s one of the best-performing crypto assets on a monthly scale, gaining 56%, and it’s up by 73% since its latest all-time low of $0.1312 marked on February 11.
A few things to consider for its future price moves include the token unlock schedule, as over 13.5 million coins will be unlocked in three consecutive days starting today, and the number will jump to 17 million on March 17. Additionally, PI has a history of performing well in the weeks leading up to big announcements or updates, only to crash hard after in a classic sell-the-news event.
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Crypto World
Babylon, Ledger Integration Expands Bitcoin Vault Access
Bitcoin staking infrastructure developer Babylon Labs has integrated with Ledger, a cryptocurrency hardware wallet maker, in a move that could make it easier for holders to put their Bitcoin (BTC) to work in financial applications without giving up self-custody.
In a Tuesday announcement, the companies said Ledger signers will be used for Babylon’s Trustless Bitcoin Vaults, also known as BTCVaults. The vaults allow BTC holders to lock their tokens into programmable contracts governed by onchain conditions while retaining self-custody of the underlying asset.
Ledger devices will act as the secure signing layer for BTCVault transactions, enabling users to authorize vault interactions directly from their hardware wallet.
The feature relies on Ledger’s Clear Signing technology, which displays human-readable transaction details on the device screen so users can verify exactly what they are approving before signing. The approach is designed to reduce the risk of signing malicious or opaque transactions, a common concern in crypto workflows.
The tie-up is significant given Ledger’s scale as a hardware wallet provider, with the company reporting more than 8 million devices sold globally. As Cointelegraph recently reported, Ledger is said to be in talks with major financial institutions about a US initial public offering.

Related: Ledger and Trezor 2025 hardware wallets released: What’s new for users?
Digital asset vaults growth surges
Self-custodial vaults are emerging as a growing use case in digital assets as users look for ways to put their crypto to work without relinquishing control of their funds.
Unlike traditional custodial platforms, where assets are deposited with an exchange or intermediary, vaults are typically governed by programmable conditions that allow users to retain ownership while participating in lending, staking or yield strategies.
Vault strategies have gained traction in decentralized finance. Protocols such as Yearn Finance popularized the concept through automated yield vaults that allocate user deposits across lending and liquidity markets.
More recently, messaging platform Telegram introduced vault-style yield products within its integrated crypto wallet, allowing users to deposit assets such as Bitcoin, Ether (ETH) and Tether’s USDt (USDT) into structured strategies designed to generate returns.
Institutional players are also joining the fray. Asset manager Bitwise recently collaborated with DeFi lending protocol Morpho to curate onchain vault strategies designed to generate yield through overcollateralized lending markets.
Related: Bitcoin company Fold pays off $66M debt, frees up BTC collateral
Crypto World
Senate Democrats push ban on prediction market bets tied to war and death
Sen. Adam Schiff (D-CA) has introduced proposed legislation that would ban prediction market contracts tied to terrorism, war, assassination, and death, directly challenging market regulator CFTC’s shift toward looser regulation of event trading.
The bill, dubbed the DEATH BETS Act, would strip the agency of discretion over whether to permit such contracts and write explicit prohibitions into law, putting Schiff on a collision course with CFTC Chair Mike Selig’s deregulatory agenda.
Schiff, a member of the Senate Agriculture Committee that oversees the CFTC, is positioned to press the issue legislatively as the agency’s new rule making takes shape.
Under the Commodity Exchange Act, the CFTC already has authority to block contracts tied to war, terrorism, or assassination if it determines they are contrary to the public interest. But enforcement hinges on the regulator’s judgment, meaning the scope of protection shifts with agency leadership.
Schiff’s bill would eliminate that flexibility. It would prohibit any CFTC-registered exchange from listing contracts that involve, relate to or reference terrorism, assassination, war or an individual’s death. The prohibition extends to contracts that could be “construed as correlating closely” to a person’s death, a notably broad standard.
“Betting on war and death creates an environment in which insiders can profit off of classified information, our national security is jeopardized, and violence is encouraged,” Schiff said in a statement. “There is no justification for gambling on lives, or public benefit to be derived by such a market.”
Rep. Mike Levin (D-CA) will be introducing companion legislation in the U.S. House of Representatives, according to a release from Schiff’s office.
The proposal arrives as the CFTC, under Selig, rewrites its approach to regulating prediction markets.
In February, the agency withdrew a 2024 proposal that would have broadly banned political prediction markets, with Selig criticizing the earlier effort as regulatory overreach.
Crypto World
Ethereum’s Adoption Paradox: More Users, Lower Prices
Ethereum is seeing a growing divergence between the level of activity on the network and spot prices, suggesting that transactional activity alone isn’t driving demand for Ether.
Ethereum network activity has been reaching record highs, according to CryptoQuant, including active addresses, token transfers, and smart contract calls.
Total active addresses spiked to over 1.1 million in February, more than double the prior-year period, while token transfers topped a million in March, up from around 750,000 in December, according to CryptoQuant data.
Smart contract and automated protocol token transfers have also climbed to record levels, reflecting the growth of decentralized finance (DeFi), stablecoins, automated protocols and layer-2 ecosystems.
Ethereum layer-2 Lisk’s head of research, Leon Waidmann, also observed on X on Wednesday that Circle’s USDC (USDC) usage on Ethereum just hit an all-time high, according to Token Terminal.
However, despite the network activity, the price of Ether (ETH) remains down almost 60% from its peak, indicating “a clear divergence between network usage and asset performance,” said Julio Moreno, head of research at CryptoQuant, on Tuesday, calling it an “adoption paradox.”
The findings challenge previous notions that crypto network activity translates into demand for the asset that drives price increases.
ETH price dynamics driven by capital flows
Moreno added that the yearly change in Ethereum’s realized capitalization has turned negative, showing that capital is exiting from Ether.
“This aligns closely with ETH price weakness and suggests that ETH price dynamics are driven primarily by capital flows rather than network activity growth.”

Related: Ether funding rate flips negative: Are ETH bears back in control?
ETH price is in deep bear territory
Ether is currently trading at just above $2,000, consolidating just above the levels it ranged at for over a year in the 2022-2023 bear market.
However, it’s not just Ether suffering, as the broader crypto market is down 44%, or around $2 trillion from its October peak.
Many altcoins are down 80% amid a liquidity drought, amplified by a risk-off investment environment due to ongoing geopolitical conflict.
Magazine: China’s ‘50x’ blockchain boost, Alibaba-linked AI mines Bitcoin: Asia Express
Crypto World
Ripple (XRP) Price Analysis: Goldman Sachs Emerges as Top XRP ETF Investor
Key Highlights
- With more than $153 million invested, Goldman Sachs holds the top position among spot XRP ETF investors — controlling roughly 15% of total ETF assets.
- Ripple’s XRP currently hovers near $1.38, consolidating between a critical floor at $1.34 and ceiling at $1.44.
- The XRP Ledger is processing approximately 2.7 million daily transactions, while tokenized real-world assets on the platform total $461 million.
- Combined XRP ETF assets have reached nearly $971 million, distributed among 83 institutional investors.
- Bulls could target $1.50 if price clears $1.44 resistance, while bears may drive toward $1.30–$1.32 if support at $1.34 fails.
Ripple’s XRP remains in a tight consolidation pattern near $1.38 as traders anticipate the next directional move. For approximately 30 days, the digital asset has been locked within a range defined by $1.34 support and $1.44 resistance.

While price action has been relatively muted, this week brought two notable developments: increased blockchain activity and new disclosures revealing significant Wall Street exposure to spot XRP exchange-traded funds.
Data analyzed by Bloomberg’s James Seyffart reveals that Goldman Sachs commands the largest institutional stake in spot XRP ETFs. The investment banking powerhouse maintains exposure exceeding $153 million, accounting for approximately 15% of the combined $971 million held across all XRP ETF vehicles.
Numerous prominent financial institutions have joined Goldman in establishing XRP ETF positions. Millennium Management, the multi-strategy hedge fund managed by Izzy Englander, has committed $25 million to XRP ETF exposure. Ken Griffin’s Citadel maintains a position valued above $4.5 million. Additional holders include Jane Street Group, Jain Global, and Gallagher Capital Management. Collectively, 83 institutional entities now hold stakes in these investment products.
Wall Street Interest Builds Despite Recent Outflows
XRP ETF products have experienced net redemptions exceeding $22 million during the current month. This represents the first period of negative flows since these funds debuted. By contrast, February saw $58 million in net inflows.
According to previous disclosures, Goldman Sachs maintains a combined $2.3 billion position across Bitcoin, Ethereum, Solana, and XRP investment vehicles.
Ripple’s CEO Brad Garlinghouse has outlined ambitious plans for the coming year, emphasizing initiatives in artificial intelligence and payment infrastructure.
Network Activity Shows Robust Growth
Blockchain metrics indicate that the XRP Ledger is currently processing roughly 2.7 million transactions per day. Real-world assets tokenized on the network have climbed to approximately $461 million in value.
Spot market trading volumes have declined from recent peaks. XRP made a brief attempt at $1.44 during one trading session before encountering selling pressure, confirming this price point as a meaningful near-term barrier.
The $1.34–$1.35 region continues to serve as the primary downside defense zone. Technical charts display a double-bottom formation on the daily timeframe around $1.3363, which market observers interpret as a potentially constructive signal.
Should price action sustain levels above $1.3363, the subsequent upside target sits at $1.6703, representing the neckline of the double-bottom structure. Conversely, a decisive breakdown below $1.34 could trigger a retracement toward $1.30–$1.32 or potentially the year-to-date bottom at $1.12.
As of March 11, XRP is changing hands at roughly $1.38 with 83 institutional participants maintaining positions in spot XRP ETF offerings.
Crypto World
Bitcoin price outlook after US CPI data release today
Bitcoin fell over 2% on Wednesday as investors remained on the sidelines ahead of the release of U.S. CPI data later today.
Summary
- Bitcoin price fell over 2% before trading sideways ahead of the U.S. CPI data release.
- The monthly CPI reading for February is expected to come in hotter at 0.3%, with the year-over-year reading holding steady.
According to data from crypto.news, Bitcoin (BTC) fell from an intraday high of $71,612 on Tuesday to $69,936 last check on Wednesday, March 11.
Bitcoin price movement has fallen as traders braced for the US Bureau of Labor Statistics to publish the February Consumer Price Index (CPI) data at 8:30 a.m. ET.
Economists expect the monthly CPI to rise by 0.3% in February, up from 0.2% increase seen in January, with the year-over-year reading holding steady at 2.4%. Meanwhile, Core CPI figures are estimated to come in at 0.2% on a monthly basis and 2.5% YoY.
While inflation data has often been very pivotal for Federal Reserve officials on determining the next policy step, Bitcoin’s initial reaction following the announcement would most likely remain muted as the February CPI print would not factor in the impact of crude oil prices on inflation.
In the wake of an aggressive attack by Iran on commercial vessels traversing the Strait of Hormuz, a vital strategic waterbody, global energy supplies were severely disrupted, causing crude oil prices to surge past the $100 mark for the first time in years as the market reacted to the sudden threat to one of the world’s most critical transit chokepoints.
Without the inclusion of the surging oil prices in inflation that can be expected following next month’s CPI, Bitcoin price could continue to trade relatively sideways with no clear direction following the data release today.
If the CPI print instead comes out hotter than expected, it could trigger hawkish sentiment, while a cooler reading could encourage bulls to take control.
At press time, markets virtually see zero chance of a rate cut in March and minimal 25 bps reduction expectations in April, per the CME FedWatch tool.
Cryptocurrencies, including Bitcoin, have typically rallied when the odds of Fed rate cuts are high and retreated when they diminish.
For now, $71,000-$72,000 appears to stand as the next major resistance area for Bitcoin, which bulls have struggled to penetrate. On the other hand, a drop below the $66,000-$67,000 support zone could open the door for a deeper correction.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Crypto World
Next week could spice things up for BTC as seven central banks face an inflation test
Next week could prove pivotal for markets, including bitcoin, as seven major central banks, including the powerful Federal Reserve, announce rate decisions amid war-driven oil price gains that threaten to reignite inflation in the global economy.
The week’s packed economic calendar includes the Reserve Bank of Australia (RBA) rate decision on March 17, followed by the Bank of Canada (BOC) and the Fed on March 18, and wraps up with the Bank of Japan (BOJ), Swiss National Bank (SNB), and European Central Bank (ECB) on March 19.
Until recently, markets expected most major central banks, led by the Fed, to steadily cut interest rates (or avoid tightening) this year. The rapid emergence of artificial intelligence as a disinflationary force — with the potential to disrupt the labor market — had reinforced this bias for lower borrowing costs. That outlook supported risk assets, including Bitcoin.
However, the war that began on Feb. 28 with coordinated U.S. and Israeli strikes on Iran, which has since involved widespread retaliatory attacks and disrupted energy shipments through the Middle East, has thrown a wrench into that outlook.
Rising oil prices have reignited concerns over inflation, forcing traders to reassess interest rate expectations. Some fear that central banks would respond to the evolving inflationary macroeconomic situation with higher borrowing costs.
As such, hawkish hints next week could trigger downside volatility across risk assets, including Bitcoin. This scenario looks plausible, as policymakers — remembering their 2021–22 misstep when they called inflation transitory and were proven wrong — may be extra quick to curb rising price pressures this time.
If they remain neutral or data-dependent in a wait-and-watch mode or downplay inflation fears, then risk assets could surge. This possibility cannot be ruled out either.
“Like all supply shocks, the first Fed response to an oil price spike is to watch and assess the damage,” Economist and Fed Watcher Ethan Harris said in a LinkedIn post.
“There are two reasons for this hesitation. First, oil shocks simultaneously lower growth and raise inflation. Before moving, the Fed wants to figure out which is the bigger problem. Second, most such shocks are transitory. The Fed does not want change rates, only to reverse the move weeks later,” he explained.
Historically, only the Fed — and possibly the BOJ — have exerted meaningful influence over Bitcoin prices. With oil prices already straining all corners of the Japanese society, next Friday’s BOJ decision could prove particularly pivotal for both domestic markets and bitcoin.
Crypto World
Bitcoin (BTC) Price Slips Under $70K Amid Iran Tensions and Upcoming CPI Report
TLDR
- BTC declined 0.5% to approximately $69,583 during Wednesday’s Asian session
- The cryptocurrency momentarily climbed past $70K on Tuesday following Trump’s Iran peace comments
- Wednesday’s US CPI release could influence Federal Reserve policy outlook and digital asset markets
- Spot Bitcoin ETFs recorded $251 million in net inflows on March 10
- Market sentiment indicator Crypto Fear & Greed Index holds at 15, maintaining “extreme fear” status
Bitcoin retreated beneath the $70,000 threshold during Wednesday’s Asian session, declining 0.5% to reach $69,583.5 as of 01:55 ET. This pullback followed Tuesday’s temporary bounce above $70,000.
Tuesday’s upward momentum received support from statements by US President Donald Trump, who indicated the Iranian conflict might be “pretty much” concluded. This commentary temporarily boosted market sentiment and lifted Bitcoin from the mid-$60,000 levels observed earlier in the week.
Subsequently, Trump issued a message on Truth Social warning that any Iranian interference with petroleum supplies would trigger heightened US military action. Meanwhile, military engagements involving US, Israeli, and Iranian forces in the Gulf region have persisted.
🚨 BREAKING — PRESIDENT TRUMP SENDS NATION-ENDING ULTIMATUM TO IRAN
“If Iran does anything that stops the flow of Oil within the Strait of Hormuz, they will be hit by the United States of America TWENTY TIMES HARDER than they have been hit thus far.
Additionally, we will take… pic.twitter.com/tl0DRl2nli
— Nick Sortor (@nicksortor) March 10, 2026
Crude oil valuations had surged near $120 per barrel following the practical closure of the Strait of Hormuz, disrupting critical maritime trade channels. While prices moderated following Trump’s preliminary statements, they continue trading at elevated levels.
Blockchain analytics provider Santiment documented a return to bullish sentiment on social platforms Tuesday. Favorable discussions increased across X, Reddit, and Telegram in response to Trump’s statements and the petroleum price decline.
🤑 Bitcoin sentiment has jumped back into FOMO territory after its market value exceeded $70K Tuesday. Across X, Reddit, Telegram, and other crypto-related discussions, the crowd is encouraged by Trump’s comments that the war may soon end, and oil prices reversing course. pic.twitter.com/S21cXOUM0F
— Santiment (@santimentfeed) March 10, 2026
Institutional Activity and Bitcoin ETF Momentum
US-listed Bitcoin spot exchange-traded funds registered combined net inflows totaling $251 million on March 10. Corporate Bitcoin accumulator Strategy acquired approximately 18,000 BTC last week and executed an additional purchase this week.
On March 10, Eastern Time, the total net inflow into Bitcoin spot ETFs was $251 million, with no ETF experiencing net outflows. The Bitcoin spot ETF with the highest net inflow in a single day was the BlackRock ETF IBIT, which saw a net inflow of $186 million. Ethereum spot ETFs… pic.twitter.com/wGLkZmUBJD
— Wu Blockchain (@WuBlockchain) March 11, 2026
Merkle Tree Capital’s Chief Investment Officer Ryan McMillin observed that Bitcoin has maintained support above its February lows while demonstrating strength amid geopolitical turbulence. He suggested that bearish positions could experience pressure toward the $80,000 level.
Rachael Lucas, a cryptocurrency analyst with BTC Markets, indicated that recapturing the $70,000 level publicly triggers FOMO concerns, identifying it as a crucial resistance threshold.
Market Sentiment Remains Deeply Pessimistic
Notwithstanding enhanced social media optimism, Wednesday’s Crypto Fear & Greed Index registered 15, remaining firmly in “extreme fear” territory. Google Trends data for “Bitcoin” searches measured approximately 71, retreating from the March 5 peak of 100.
$BTC monthly RSI is indicating that a cycle bottom hasn’t happened.
IMO, when monthly RSI drops below 40, a cycle bottom will occur. pic.twitter.com/QiBeSaz6zn
— Ted (@TedPillows) March 10, 2026
The United States Consumer Price Index report arrives later Wednesday. These inflation metrics could reshape Federal Reserve monetary policy projections and impact risk sentiment across cryptocurrency markets.
Market participants are also monitoring developments around the stalled CLARITY Act. Reports indicate US lawmakers are pursuing a compromise regarding stablecoin yield regulations, which represents a contentious issue between traditional banking institutions and cryptocurrency companies.
Crypto World
Is Washington coming for Polymarket’s ‘death markets’? New Senate bill takes aim
A new U.S. Senate bill aims to prohibit betting markets tied to war, assassination, and an individual’s death, a move that could have implications for prediction-market platforms such as Polymarket.
Summary
- The bill would amend the Commodity Exchange Act to prohibit trading contracts referencing war, terrorism, assassination or an individual’s death.
- The measure could impact event-trading platforms and prediction markets, where users speculate on real-world outcomes.
- The legislation would require regulated exchanges to avoid listing or clearing such contracts, giving regulators clearer authority to block them.
The legislation, introduced by Adam Schiff, is titled the Discouraging Exploitative Assassination, Tragedy, and Harm Betting in Event Trading Systems Act, or the “DEATH BETS Act.”
The proposal would amend the Commodity Exchange Act to prohibit exchanges from listing or clearing event contracts that reference terrorism, assassination, war or similar violent activities.
Under the bill, trading venues registered with the U.S. CFTC would also be barred from offering contracts that relate to an individual’s death or events that could be closely correlated with a person’s death.
What the ‘DEATH BETS Act’ could mean for Polymarket
Prediction markets like Polymarket and Kalshi have gained traction in recent years, allowing users to speculate on the outcomes of elections, geopolitical events and other real-world developments.
The proposed legislation could tighten regulatory scrutiny around event-trading platforms that speculate on violent or tragic real-world outcomes. If passed, the DEATH BETS Act could also influence how prediction markets design future contracts.
The bill comes amid rising debate on how betting on tragedies or violent acts raises ethical concerns and could create incentives for harmful behavior.
Polymarket faced backlash recently over a controversial prediction market tied to the possibility of a nuclear strike. The platform later archived the market following criticism, highlighting the growing scrutiny surrounding event contracts linked to catastrophic or violent outcomes.
The legislation has been referred to a Senate committee for further consideration, and it remains unclear whether it will advance in Congress.
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