Nevada Court Issues Restraining Order Against Polymarket
In a significant regulatory blow to the world's largest prediction market, a Nevada judge has temporarily barred Polymarket from offering event contracts within the state. As reported by Cointelegraph, the temporary restraining order challenges the platform's defense that only the Commodity Futures Trading Commission (CFTC) has jurisdiction over such markets. This ruling marks a critical test for state-level control over decentralized betting platforms.
While Decrypt notes that this legal action comes amidst global regulatory pressure, it highlights the increasing fragmentation of the legal landscape for prediction markets in the United States.
Hyperliquid Enters the Fray, Token Surges 20%
Despite the regulatory headwinds facing incumbents, new players are aggressively entering the space. The decentralized exchange Hyperliquid saw its HYPE token jump 20% today after the team signaled support for a new "outcome trading" feature. According to Cointelegraph, this feature—part of the HIP-4 upgrade—will function as a form of derivatives trading without leverage, liquidations, or margin calls.
Decrypt reports that this move positions Hyperliquid as the latest DeFi heavyweight to integrate prediction market mechanics directly into its core exchange architecture. For traders tracking these rapid platform developments, predictionmarketstools.com provides essential data on emerging liquidity pools and outcome pricing.
Market Sentiment: Bearish Bitcoin, Bullish Solana Long-Term
On the trading floor, sentiment regarding the broader crypto market remains cautious. Current data from Polymarket shows a 72% probability that Bitcoin will slip below $65,000 in 2026. Analysts cite tight U.S. liquidity conditions as a primary driver for this bearish outlook.
Conversely, long-term infrastructure plays are seeing revised but optimistic forecasts. Standard Chartered analyst Geoffrey Kendrick has trimmed his 2026 Solana target to $250 from $310, citing recent market plunges. However, as detailed by CoinDesk, the bank maintains a bullish long-term target of $2,000 by 2030, driven by the network's potential dominance in stablecoin micropayments.