Tel Aviv, Israel, 26th February 2026, Chainwire

[PRESS RELEASE – Tel Aviv, Israel, February 26th, 2026]

Playnance today announced that its “Be The Boss” program has surpassed $2 million in real cash payouts (fiat), while expanding to 2,809 active Bosses across its ecosystem. Overall, the platform has generated more than $5.3 million in total revenue to date. The momentum comes as the company prepares for the upcoming launch of its G-Token, the core utility token designed to power and unify activity across Playnance’s live, on-chain consumer platforms.

The Be The Boss program was designed as a structural layer within the Playnance ecosystem, allowing participants to take an active role in platform-level economics tied directly to real user activity. Unlike speculative participation models that rely on projected growth, the program is integrated into Playnance’s live infrastructure, which currently processes approximately 1.5 million on-chain transactions per day and serves more than 10,000 daily active users. All user activity across Playnance’s platforms is executed and recorded on-chain through a non-custodial system, while maintaining familiar Web2 onboarding flows that remove blockchain complexity for mainstream users.

As users engage with platforms such as PlayW3, Up vs Down, and other ecosystem products, transaction activity flows through a shared wallet and infrastructure layer. The Be The Boss structure is designed to align with this activity, creating a framework that reflects ecosystem performance rather than external incentives. The growth to 2,809 Bosses, more than doubling participation, signals increasing engagement ahead of the G-Token launch and demonstrates sustained interest in the underlying system.

The upcoming G-Token already serves as the core utility layer across the Playnance ecosystem, functioning as the connective asset between products, infrastructure, and user participation. Built directly into platform mechanics, the token is designed to power interactions, support settlement flows across applications, and unify multiple consumer platforms under a shared on-chain economic model. Rather than operating as a standalone digital asset, G-Token forms the foundation of the ecosystem’s architecture, linking user behavior, transaction activity, and platform-level incentives within a single framework.

The Be The Boss program operates within this token-driven structure, reinforcing Playnance’s approach of building live systems at scale before publicizing them. By grounding its token model in measurable activity, including 1.5 million daily on-chain transactions, Playnance positions G-Token as an extension of an already functioning ecosystem rather than a speculative launch.

“Our focus has always been on building real systems that operate at scale before talking about them,” said Pini Peter, CEO of Playnance. “The growth of the Be The Boss program and the upcoming launch of G-Token reflect years of infrastructure development, live user activity, and continuous refinement. We designed the token to serve a working ecosystem, not the other way around, and this milestone shows that the foundation is already in place.”

Playnance plans to continue expanding its ecosystem in alignment with observed user behavior and platform performance, further strengthening the integration between consumer applications, shared infrastructure, and the G-Token economy.

About Playnance

Founded in 2020, Playnance is a Web3 infrastructure company developing live, non-custodial, on-chain products designed to onboard mainstream Web2 users into blockchain environments. The company develops consumer-facing platforms built on shared wallet systems and high-volume on-chain execution, currently processing approximately 1.5 million transactions per day. Playnance focuses on reducing friction between user experience and blockchain infrastructure by abstracting complexity while maintaining full on-chain transparency and non-custodial architecture.

Bitcoin is contending with a rare confluence of resistance on the weekly chart, a setup that could determine whether the bear phase eases into March or drags on for longer. The price action comes as BTC hovers in a tight zone just below three major barriers: the 200-week exponential moving average (EMA) at about $68,330, the long-standing 2021 all-time high near $69,000, and the round-number psyche of $70,000. The most recent moves show a struggle to reclaim those levels after a mid-week peak that touched $70,040 but failed to hold. This backdrop has traders weighing the probability of a sustained rebound versus another leg lower, with the market watching for a decisive bullish signal.

Key takeaways

• Bitcoin is testing a triple-resistance cluster on the weekly chart, with the 200-week EMA at roughly $68,330, the 2021 peak around $69,000, and $70,000 acting as a psychological barrier.
• BTC has dropped about 14% in February, marking a fifth consecutive red month, highlighting persistent downside pressure even as buyers consider a potential shift in momentum.
• The price hovered near $67,720 after failing to reclaim the $70,000 level, underscoring the need for a weekly close above the 200-week EMA to sustain any upside.
• Analysts have flirted with the idea that March could turn bullish if a weekly close clears the EMA hurdle, suggesting a possible retest toward higher targets if momentum builds.
• Historical precedent factors into the discussion: a similar streak in late 2018 preceded a multi-month rally, raising expectations that a reversal could materialize in the spring once selling pressure loosens.
• Longer-term signals remain mixed, with traders eyeing the potential break above a major cost-basis level around $74,500 as a potential marker for a sustained bull phase.

Tickers mentioned: $BTC

Market context: The price action arrives as liquidity and risk appetite swing with broader market dynamics, including a stock-market rebound and earnings data that have previously boosted risk-on assets. Traders are balancing technical resistance with macro cues, keeping a close watch on trend-following signals and key levels on the chart.

Why it matters

From a technical standpoint, the trio of resistance points converges at a zone that has historically defined BTC’s near-term fate. A weekly close above the 200-week EMA at $68,330 would be a rare indication that sellers are losing steam and that bulls are regaining control. Such a move could rekindle momentum toward the next psychological and technical targets, potentially delivering a more substantive bounce than a cursory intraday spike.

The broader context matters because these levels are not arbitrary driftlines; they reflect long-standing anchors in Bitcoin’s price history. Confronting the old high at $69,000 provides a test of whether demand can overwhelm supply that has persisted through a prolonged drawdown. The $70,000 level, in turn, functions as more than a price barrier—it signals a market memory of previous turning points when risk appetite reacted to macro news and liquidity conditions. A sustained move through these gates could alter sentiment in a market that has endured a multi-month downtrend.

Beyond the immediate price optics, the discussion is inseparable from the mechanism of a potential bear-market exit. Some market observers point to a pivotal threshold around $74,500—the cost basis for the 18-24 month age band—as a possible inflection line for the bear narrative. A break above that zone has historically carried implications for the durability of any upward move, even if the current price action remains within a volatile corridor. In this sense, the path forward is not simply about punching higher; it is about confirming a durable change in the supply-demand dynamics that have characterized BTC for months.

The market’s current mood is further informed by a blend of on-chain and sentiment signals that emphasize demand resilience and the risk of renewed selling pressure if macro catalysts deteriorate. Market watchers have noted that previous episodes of similar consolidation tended to be followed by more pronounced moves once the EMA and key resistance levels gave way. This pattern, while not a guarantee, has shaped a cautious outlook for March as participants await the weekly cadence of candles to reveal whether bulls can sustain a breakout or whether fresh selling emerges to prolong the consolidation.

In parallel, commentary from prominent traders underscores the fragility of any rally, noting that a lack of a convincing weekly close could delay a meaningful rebound. For instance, a trader known as Captain Faibik argued that clearing the 200-week EMA on a weekly basis could pave the way for a resurgence toward higher targets, cautioning that March could shape up as a turning point if momentum is captured. His assessment reflects a common view that the longer horizon—beyond a single daily move—matters for how the market assigns value to risk assets in the near term.

As a reminder of the historical context, a Cointelegraph piece noted that the bear market could end if BTC reclaimsthe cost basis around the 18-24-month band, a threshold that has historically signaled a shift in trend. The question remains whether this time will mimic the late-2018 to early-2019 period when a months-long drawdown was followed by a dramatic multi-bagger rally. If selling pressure abates and demand returns, April could mark the onset of a more constructive phase for the asset, even as the journey toward that inflection point remains uncertain.

“I think March is going to be a bullish month.”

Data from CoinGlass reinforces the immediacy of the trend, showing a five-month streak of negative performance for Bitcoin with February posting about a 14% decline. The cadence of losses has raised concerns about macro-driven risk-off sentiment, yet it also sets the table for a potential reversal should macro news align with technical breakouts. The market’s memory of past cycles—where similar declines have given way to decisive rallies—keeps the discussion open for a spring resurgence, provided the price clears the critical thresholds and maintains momentum.

In this environment, traders are urged to monitor the confluence of signals rather than relying on a single data point. A sustained push through the key hurdle at $68,330 on a weekly close would be a more meaningful signal than a fleeting intraday peak. If momentum bets align with a broader market backdrop that supports risk-on assets, the path toward higher levels could materialize, offering traders a clearer roadmap for the weeks ahead.

What to watch next

• Watch for a weekly close above the 200-week EMA near $68,330 to confirm momentum and potentially open a path toward $70,000 and beyond.
• Monitor price action around $69,000 and $74,500 as potential inflection points that could alter the bear narrative and attract new buyers or trigger renewed selling.
• Observe the interplay between macro catalysts and risk appetite, including market reactions to earnings data and macro releases, which have previously influenced BTC’s correlation with broader assets.
• Track on-chain indicators and investor behavior for signs of exhaustion in selling pressure and the emergence of accumulation patterns that precede sustained rallies.

Sources & verification

• BTC price context and resistance levels as discussed in a Cointelegraph piece focusing on the confluence of barriers at $68k–$70k
• BTCUSD TradingView data illustrating price hovering around $67,720 after rejection from $70,000
• CoinTelegraph report on bear-market dynamics tied to reclaiming $74,500 as a key end-state
• CoinGlass data documenting February’s 14% decline and the five-month red streak
• Public posts by traders on X, including insights from CryptoFaibik and Alek Carter, discussing near-term momentum and historic precedents

• The one-click DeFi access could unlock idle XRP liquidity for Flare’s ecosystem.
• The FLR token price remains weak amid low liquidity and cautious market sentiment.
• The immediate support level for Flare (FLR) sits near $0.00963, with downside risk if this support breaks.

Flare (FLR) cryptocurrency price is pulling back after a recovery attempt that pushed it to a high of $0.009826 on February 28, following the news of Flare rolling out one-click DeFi access for XRP token holders through a partnership with Xaman.

This comes as FLR cryptocurrency trades near multi-month lows, raising an important question about whether fundamentals can eventually support a shift in price momentum.

The one-click DeFi lowers the barrier for XRP holders

For years, XRP holders have largely remained on the sidelines of decentralised finance due to technical complexity and limited native options.

Flare’s latest integration aims to change that by simplifying how the XRP cryptocurrency can be used in DeFi without forcing users to navigate bridges, complex smart contracts, or unfamiliar wallets.

The one-click approach allows users to interact with DeFi protocols while maintaining self-custody, which has been a persistent concern for more conservative market participants.

By abstracting away the complicated steps, Flare positions itself as a gateway for idle XRP liquidity to enter yield-generating activities.

This matters because XRP represents one of the largest pools of dormant capital in crypto, yet only a small fraction of it is currently productive.

If even a modest percentage of that capital moves on-chain, it could significantly boost activity across Flare’s DeFi stack.

The timing is also notable, as demand for yield products has been rising while speculative trading has slowed.

That shift suggests users are becoming more selective, favouring utility and predictable returns over short-term price bets.

Market conditions keep FLR under pressure

Despite the positive narrative, Flare’s native token, FLR, has struggled to reflect this progress in its price.

The broader crypto market has recently leaned risk-off, with total market capitalisation slipping and Bitcoin posting mild losses.

In this environment, FLR has underperformed slightly, declining more sharply than the market average over the past 24 hours.

Liquidity remains thin, as reflected by a sharp drop in daily trading volume, which makes the token more sensitive to modest sell pressure.

Low liquidity often exaggerates price moves, especially when there is no strong catalyst to attract fresh buyers.

While social sentiment around XRP-related developments has turned more optimistic, that enthusiasm has not yet translated into sustained buying activity.

Over the past month, FLR has remained down meaningfully, reinforcing the idea that traders are still cautious.

This disconnect between improving fundamentals and weak price action highlights a familiar crypto pattern where adoption narratives take time to show up on charts.

Flare price forecast

FLR is currently trading in a tight technical range that reflects uncertainty rather than panic.

Price action is sitting between key Fibonacci retracement levels that have capped momentum in both directions.

The first level traders are watching is the area around $0.00904, which has acted as short-term support.

A clean break below this zone could expose the previous swing low near $0.0085.

If that lower level fails to hold, downside pressure may accelerate due to thin liquidity.

This makes volume confirmation critical for any move lower or higher.

On the upside, FLR needs a decisive push above the $0.00968 region to shift near-term momentum.

Such a move would signal that buyers are finally stepping in with conviction.

From a technical standpoint, momentum indicators, including the Relative Strength Index (RSI), currently sit near neutral, suggesting the market is coiled rather than trending.

This leaves FLR vulnerable to broader market moves until a clear catalyst emerges.

The key question is whether growing DeFi participation from XRP holders can translate into measurable demand for FLR.

If on-chain activity and volume rise together, price could stabilise and attempt a recovery.

Until then, the outlook remains neutral to slightly bearish, with traders focused on support resilience rather than breakout targets.

• Bitcoin stalls near $67,000 after partial recovery from all-time highs.
• On-chain data shows half of BTC is held at a loss, hinting at market fatigue.
• Analyst warns deeper correction possible, with bottom around $45,000.

Bitcoin’s recent recovery attempt has stalled just below $70,000, with the cryptocurrency slipping back to around $67,250 at press time.

The drop comes as the broader crypto market struggles to maintain upward momentum following a few months of volatility.

After reaching an all-time high of $126,080 in October 2025, Bitcoin (BTC) has now retraced nearly half of its value.

All eyes are now on the cryptocurrency as it appears to consolidate around $67,000 after the steep drawdown.

Analyst Willy Woo warns of further downside

Renowned on-chain analyst Willy Woo has predicted a significant price correction following the recent bounce.

He estimates that the bear market bottom could be around $45,000, with more extreme scenarios potentially testing $30,000 or even lower.

Woo’s caution stems from declining liquidity across spot and derivatives markets, which historically reduces the strength of rallies.

He suggests that Bitcoin may briefly climb to the mid-$70,000 range before facing renewed downward pressure.

On-chain signals hint at market fatigue

On-chain metrics suggest that Bitcoin may be entering the later stages of a bear market cycle rather than the early phase.

Roughly half of all circulating BTC, nearly 9.2 million coins, are currently held at a loss, according to the latest weekly report by on-chain analytics firm Glassnode.

Historically, such levels indicate significant selling pressure and potential capitulation, yet the pace of accumulation by long-term holders hints at a market beginning to stabilise.

Some analysts view these patterns as signs that bitcoin’s price may be closer to a bottom than the start of a prolonged decline.

The balance between holders in profit and those in loss is an important measure of market sentiment, and it shows that while short-term volatility remains high, there is underlying support at current levels.

Bitcoin ETF inflows show cautious optimism

Institutional investors have recently stepped back into the market, with Bitcoin ETFs recording over $1 billion in net inflows over a few days.

This trend follows a period of withdrawals totalling nearly $3 billion, signalling that some investors see the current price as a buying opportunity.

Spot ETFs, in particular, are attracting attention from long-term investors looking for regulated exposure to Bitcoin.

The renewed interest demonstrates that, despite the pullback from all-time highs, there is confidence in the asset’s long-term prospects.

However, inflows are not a guarantee of sustained upward momentum.

Short-term technical indicators suggest that Bitcoin is trading near the top of a tight consolidation range between $67,000 and $68,000, and a breakout above this zone could spark a rally, although rejection may force the price back toward $63,000 or lower.

Forward Industries’ CIO says the company aims to become the “Berkshire Hathaway of the Solana ecosystem,” even as its treasury approaches $1 billion in unrealized losses.

The statement comes as SOL has declined nearly 30% year-to-date, a drop that is impacting balance sheets across major Solana-focused digital asset treasury (DAT) firms.

Solana’s Price Decline Deepens Institutional Pain

Forward Industries is the largest institutional holder of Solana. The company began accumulating SOL in September 2025 after raising approximately $1.65 billion through a private investment in public equity (PIPE), backed by Galaxy Digital, Jump Crypto, and Multicoin Capital.

According to the latest data from CoinGecko, it holds over 6.9 million SOL. The firm acquired its position at an average price of around $230 per token, implying a total cost basis of roughly $1.59 billion.

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With the altcoin trading near $87, the company’s stake is now worth approximately $605.2 million. That represents an unrealized loss of nearly $1 billion, or roughly 62% from its average entry price.

Furthermore, FWDI shares have fallen from over $39 to roughly $5 since the company started buying SOL. According to Google Finance data, the stock price declined by 31.47% in 2026 alone.

Despite the drawdown, the firm’s conviction remains strong. Company leadership has outlined an ambitious long-term vision that transcends short-term volatility.

“Our longer-term aspiration is to be the Berkshire Hathaway of the Solana ecosystem. We believe Solana is best positioned as the blockchain for the future of internet capital markets,” Forward Industries’ CIO Ryan Navi said.

According to CoinGecko treasury data, Forward Industries is not alone. Firms like DeFi Development Corp, Upexi, and Sharps Technology are also sitting on significant unrealized losses as Solana’s price continues to slide.

The losses extend well beyond Solana-focused firms. Bitmine’s Ethereum (ETH) holdings have produced unrealized losses exceeding $7 billion. Meanwhile, Strategy’s Bitcoin (BTC) position carries paper losses of roughly $5 billion, according to Saylortracker data.

The broader DAT model, in which publicly listed companies hold crypto assets as their primary balance sheet instrument, is showing its vulnerabilities as a synchronized market decline compresses asset values while equity investors reprice risk.

Solana Launches “Solana Payments” Amid Ecosystem Momentum

Despite price struggles, ecosystem developments have continued. Yesterday, the team introduced Solana Payments, a new initiative to accelerate on-chain payment adoption.

Key Takeaways

• The Target: The roadmap aims for 10,000 TPS (1 gigagas/s) on Layer 1 and up to 10 million TPS on Layer 2 via data availability sampling.
• The Shift: Introduction of “Minimmit” single-slot finality intends to reduce transaction irreversible time from roughly 16 minutes to 6–16 seconds.
• The Timeline: Developers are planning seven hard forks on a six-month cycle through 2029 to implement these changes incrementally.

Earnings season is wrapping up with a mixed bag of results across crypto miners, AI infrastructure plays and fintech names, including MARA Holdings (MARA), TerraWulf (WULF), CoreWeave (CRWV) and Block (XYZ).

Bitcoin BTC$67,963.04 has remained relatively flat around $67,000 during Asia and European hours, with limited movement spilling over into other crypto related equities.

MARA Holdings jumped 16% to $9.80 after striking a deal with Starwood Capital to convert select bitcoin mining facilities into AI focused data centers. The partners expect to deliver about 1 gigawatt of capacity in the near term, with plans to scale beyond 2.5 gigawatts.

The pivot reflects a broader shift among miners looking to monetize power access as AI compute demand surges, following Bitfarms (BITF) and Cipher Digital (CIFR) amongst others.

TerraWulf is trading 3.5% lower at $17 after its Q4 print, with revenue down due to lower bitcoin production and transitional GAAP optics.

However, executives emphasized that the key story is the ramp in contracted high performance computing revenue. The company has expanded from one site a year ago to five today and expects about 2.9 gigawatts of gross capacity by year end, according to head of digital assets VanEck, Matthew Sigel.

CoreWeave shares are down 12% despite revenue of $1.57 billion, beating expectations of $1.53 billion. The company reported weaker than forecasted Q1 revenue guidance, in addition to an increase in capital expenditure, which raised concerns about profitability and cash burn. EPS came in at -$0.89 versus -$0.68 expected, a 31% miss.

Block is up 20% after announcing it will cut more than 40% of its workforce, reducing headcount to about 6,000. While management pointed to AI driven efficiencies, investors are also weighing longer term margin pressure from stablecoin based payment rails.

The company guided Q1 operating income to $600M versus $574M expected, forecast Q1 gross profit of $2.8B versus $2.72B consensus and raised full year gross profit, according to Sigel.

TLDR

• BofA increased Caterpillar’s price target from $735 to $825, maintaining its Buy recommendation following impressive 2025 financial results.
• The industrial giant delivered $67.6 billion in annual revenue with 4% growth, while its Power & Energy division jumped 23% to $9.4 billion.
• CNBC’s Jim Cramer expressed support for CAT’s turbine business but suggested Cummins (CMI) offers better value at current levels.
• February saw short positions increase by approximately 61%, while company insiders offloaded more than $98 million in shares during the last quarter.
• Trading at roughly 40 times earnings after a 124% annual surge, CAT faces a consensus analyst price target of $712.52 with a “Moderate Buy” average recommendation.

Caterpillar (CAT) has experienced an impressive rally. Shares have climbed 124% during the past year and gained 28% since the beginning of 2025, starting Friday’s session at $752.81.

Caterpillar Inc., CAT

Following the release of Caterpillar’s full-year 2025 financial results, Bank of America wasted no time adjusting its outlook. The investment bank elevated its price objective on CAT from $735 to $825 while reaffirming its Buy recommendation.

BofA’s analysis was clear-cut. Caterpillar is experiencing turbine demand from multiple sectors extending far beyond data center applications, which the firm believes undermines concerns about potential turbine oversupply in the market.

The financial performance supported this thesis. Caterpillar generated $67.6 billion in total revenue throughout 2025, representing a 4% year-over-year improvement. The Power & Energy division emerged as the star performer, expanding 23% to achieve $9.4 billion in sales.

Fourth-quarter performance was equally impressive. The company delivered earnings per share of $5.16 for the period, surpassing the analyst consensus of $4.67. Revenue reached $19.13 billion, significantly exceeding projections of $17.81 billion. This represented a 17.9% increase compared to the corresponding quarter one year prior.

Jim Cramer recently shared his thoughts on CAT, stating plainly, “We like their stuff.” He highlighted turbines and power equipment as the foundation of the optimistic investment thesis.

However, Cramer also expressed some reservation. When a club member inquired in January about entering a position, he noted the stock had already experienced a substantial appreciation and said he’d prefer to see a pullback before adding exposure. He indicated he currently finds Cummins (CMI) more attractive than CAT at present valuations.

Cramer also offered criticism regarding retail investor participation, suggesting that Caterpillar’s leadership team should be working harder to engage individual investors — and questioning why an iconic American corporation trades at $749.

Analyst Ratings Split

The overall analyst community remains divided. CAT currently has sixteen Buy ratings, seven Hold ratings, and one Sell rating. The average price target stands at $712.52, which actually falls below the stock’s current trading level.

Wells Fargo pushed its target to $870 alongside an Overweight rating. Daiwa elevated its projection to $790. Jefferies established a $750 target with a Buy recommendation. Oppenheimer moved to $729 with an Outperform rating. Morgan Stanley, however, only increased its target to $425 while maintaining an Underweight stance.

Wall Street Zen downgraded CAT from Buy to Hold on February 21st.

Insider Selling and Short Interest

Not all market participants are bullish. Executive Denise C. Johnson divested 39,138 shares on February 2nd at an average price of $681.08, totaling more than $26.6 million. This transaction represented a 47% reduction in her stake.

Insider Bob De Lange executed his own sale on February 6th, offloading 22,656 shares at $720.11 for approximately $16.3 million. Throughout the past 90 days, company insiders have collectively sold $98.2 million worth of shares.

Short interest also surged roughly 61% during February, indicating that some market participants are positioning for a decline.

Institutional investors control 70.98% of CAT’s outstanding shares. Erste Asset Management expanded its stake by 32.7% in Q3, purchasing 33,634 shares. Norges Bank established a new position valued at more than $2.1 billion in Q2.

CAT’s 52-week trading range extends from $267.30 to $789.81. The stock currently trades at a P/E ratio of 40 with a market capitalization of $350.27 billion. The upcoming quarterly dividend is $1.51 per share, translating to an annualized distribution of $6.04 and a yield of 0.8%.

A small group of crypto wallets won more than $1.2 million betting on a Polymarket contract tied to an onchain investigation into decentralized finance (DeFi) trading platform Axiom, fueling fresh concerns that prediction markets can reward people with advance knowledge of market-moving disclosures.

The eight most profitable wallets on the market collectively made about $1.2 million, according to trading data compiled on Dune. The same dataset showed more than 50 wallets posting combined losses of roughly $1.23 million, while two wallets lost about $366,000.

Eight out of the top 10 wallets are likely insider addresses, judging by their onchain transaction patterns, according to onchain researcher Defioasis. “There are 3 addresses that achieved profits exceeding $100,000, all of which are insider addresses that traded only this single market,” said the researcher in a Friday X post.

ZachXBT released the much-anticipated investigation on Thursday, alleging that Axiom employee Broox Bauer and others had been responsible for insider trading activity since early 2025.

In an X response to the incident, Axiom said it was “shocked and disappointed” in the news and that it had removed access to the tools that were used in the alleged insider trading.

Related: Analysts reject Jane Street ‘10 a.m. dump’ claims, say Bitcoin isn’t easily manipulated

Prediction markets raise insider trading allegations

Insider trading concerns in prediction markets mounted in early January after a highly profitable bet on the removal of Venezuelan President Nicholas Maduro by the US raised eyebrows.

On Jan. 3, a Polymarket account placed a bet on a contract predicting that Maduro would be removed from office just hours before US forces captured him in a military operation, netting the user about $400,000 in profit.  

US lawmakers have since proposed legislation aimed at restricting political prediction market trading by government officials, adding to the regulatory spotlight on the sector.

Related: Solo Bitcoin miner bags over $200K block reward using rented hashrate

Polymarket faces growing regulatory scrutiny on gambling concerns

Polymarket, the largest decentralized prediction market, has faced mounting regulatory pressure in several countries where authorities have argued that the platform offers unlicensed gambling.

Hungary and Portugal blocked access to the platform in January, citing concerns related to forbidden gambling activities.

A week earlier, Ukraine blocked Polymarket, classifying its activities as unlicensed gambling under national law.

Polymarket has also been restricted or blocked in several other countries over gambling concerns, including France, Belgium, Poland, Singapore and Switzerland.

Magazine: Inside a 30,000 phone bot farm stealing crypto airdrops from real users