New York Bill Aims to Restrict Sports and Political Prediction Markets
- Legislative Move: New York Assemblyman Clyde Vanel has reintroduced the ORACLE Act, aiming to ban event contracts linked to sports, politics, and the stock market, reflecting increasing regulatory scrutiny over prediction markets.
- Market Impact: The bill specifically targets sports event contracts, prohibiting bets tied to specific match outcomes, which is expected to significantly affect revenues for platforms like Kalshi and Polymarket, especially given Foresight Ventures' finding that 90% of Kalshi's volume is sports-related.
- Regulatory Challenges: Prediction market platforms are facing challenges from regulators in multiple states, with Kalshi suing the New York State Gaming Commission, claiming it is regulated under federal law, highlighting the tension between the industry and regulatory bodies.
- Self-Exclusion Requirements: The bill mandates platforms to provide mechanisms for user self-exclusion and limit user time and spending on the platform, with non-compliance resulting in fines of $1 million per day, further intensifying operational pressures on the market.
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Technical Analysis for TOKEN
Technical Sentiment Analysis for TokenFi (TOKEN) As of , TokenFi (TOKEN) is exhibiting a Strong sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 0 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for TOKEN stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, TOKEN is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
TokenFi (TOKEN) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.000691 | 0.00175 | 0.00257 | 0.00363 | 0.00445 | 0.00551 | 0.00634 |
| Fibonacci | 0.00175 | 0.00247 | 0.00291 | 0.00363 | 0.00435 | 0.00479 | 0.00551 |
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