Anything that gives tangible rewards just encourages cheating. Look at the farce of the premium arena that was run a month ago and resulted in a majority of the top 20 getting their accounts closed!
It was the first one - hopefully the next one is close enough that people will remember how good Chess.com's Fair Play team and not do that sort of thing. Probably wouldn't hurt for Chess.com to make sure Fair Play is included in the announcements as an additional reminder.
https://www.chess.com/tournament/live/arena/premium-arena---cash-prizes-212024
should take you there I think.