Make a punch bowl out of the hollowed watermelon by cutting off approx. the top fifth of the watermelon (or just enough to open up a diameter of a bowl - leave as deep a bowl as possible with the rest of the "shell"); also cut thin slice off the peel and rind on bottom (but not into the flesh) to create a flat surface for the punch bowl to stand.
Step 2
Scoop out flesh from the larger portion of watermelon (reserve removed top portion for another use). Working in batches, puree about half the watermelon flesh in a food processor to make 5 cups (1.25 L) juice; strain and discard solids (reserve remaining watermelon flesh for another use). In pitcher, mix watermelon juice with rum, lime juice, icing sugar and mint leaves. Chill 1 hr.
Step 3
Before serving, pour punch mixture into watermelon punch bowl. Top with sparkling wine. To serve, add ice to tall glasses and ladle in punch from watermelon.
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