XRP Faces Regulatory Headwinds as Polymarket Expands Prediction Markets

Prediction market platforms face a global regulatory squeeze as Spain joined Indonesia and India in blocking Polymarket and Kalshi. Meanwhile, XRP traded at $1.33 USD on May 26, down 1.3% as crypto infrastructure expands. CME launches 24/7 XRP futures trading May 29, while Hyperliquid challenges Polymarket’s dominance with decentralized outcome contracts.

Spain Blocks Prediction Markets, Expanding Global Crackdown

Spain’s gambling regulator ordered internet service providers to block Polymarket and Kalshi, citing unlicensed betting operations. The disciplinary proceedings will take three to four months. Spain joins Indonesia, India, Taiwan, Thailand, China, Japan, Ukraine, Belgium, Australia, France, the U.K., and Germany in restricting the platforms. Polymarket and Kalshi combined control 88% of roughly $11 billion in prediction market trading volume over the past 30 days, with Kalshi recording $5.9 billion and Polymarket $3.8 billion.

Hyperliquid Launches Decentralized Outcome Contracts

Decentralized exchange Hyperliquid expanded its HIP-4 outcome contracts to include real-world macro events like inflation data and Federal Reserve decisions. The platform uses vertically integrated validators to resolve disputes instead of external oracle networks like Polymarket’s UMA protocol. Hyperliquid’s approach brings dispute resolution in-house, addressing criticism that large UMA tokenholders could influence Polymarket’s controversial market resolutions.

CME Launches 24/7 XRP Futures Trading

CME Group will launch round-the-clock trading for its entire crypto futures suite, including XRP, starting May 29 at 4:00 p.m. CT. The move eliminates weekend closures and allows institutional investors to hedge and trade continuously on a regulated platform. A market-maker program will ensure liquidity during off-hours, enhancing price discovery for XRP holders.

XRP Consolidates as Institutional Infrastructure Grows

XRP traded at $1.33 USD, down 1.3% on May 26. The 50-day moving average stands at $1.40, while the 200-day average is $1.68. Meyka rates XRP a C+ with a 12-month price target of $3.12 USD, implying 135% upside. The RSI at 44.17 signals neutral momentum, while the Stochastic indicator at 9.10 suggests oversold conditions. Ripple filed trademark applications for institutional finance services including treasury operations and hedge fund management, signaling expansion beyond blockchain payments.

Final Thoughts

XRP faces regulatory uncertainty in prediction markets but gains infrastructure support through CME’s 24/7 futures and Ripple’s institutional expansion. With Meyka rating the stock C+ and targeting $3.12, the data points to limited near-term upside amid consolidation.

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