I do not see this as a major blocker. Anyone watched 'Who wants to be a millionaire?' They went for years and only recently gave out a $1m (This is in Australia) . Several people got 0.5 million. Lots of people got smaller prizes. No reason why JREF cannot duplicate that. The money will come from sponsors and the TV networks themselves. JREFs money can stay safe.
Oh, I love that idea! You are totally brilliant! It would greatly widen the JREF's name recognition. If the crazier of the applicants weren't screened out, it would be the funniest show on television. I might even turn on my set again.
Of course, there'd have to be some sort of prize that is awarded, basically, for just appearing. Perhaps a 'panel' of applicants who are allowed to make their claims with any sort of casual demonstration that they like. (Sort of like the current JREF 'trial run'.) Allot 8 minutes to each of the 4, to allow for commercials, and then the audience (studio or at-home-through-computer) gets to pick one each week to carry over. That one gets a small, but considerable, amount of prize money...say $5,000? Once 4 or 5 are chosen, there could be a '2-hour special' where they demonstrate their claims under standard JREF protocol. Then, to keep the audience hooked, the winner gets the million (yeah....right

) and the voted-for 'audience favorite' could win another $5,000. (Anyone who withdrew before the 'real' demonstration would have to give a taped exit interview in order to claim the original $5,000.)
Audience participation, ala 'American Idol', would keep it suspenseful, it would be hysterically funny and it woud give JREF the opportunity to keep hammering away at the failures. (It would also give another chance to challenge Sylvia. After all, if she can do her thing on TV for Montel, she surely can do it on TV for Randi...right? Maybe with a large ticking clock...?)
I can see JR wheeling the securities through eerie, green, slo-mo fog out of a perfectly gigantic bank safe now...