Tennessee Orders Cease-and-Desist to Kalshi, Polymarket, and Crypto.com
- The Tennessee Sports Wagering Council (SWC) has issued cease-and-desist orders to Kalshi, Polymarket, and Crypto.com.
- These platforms are accused of offering unauthorized sports-related contracts in violation of state gambling laws.
- The SWC demands the cessation of sports contract offerings to Tennessee residents and refunds by January 31.
- Failure to comply could result in escalating fines and court action.
- Kalshi and Polymarket are federally regulated under CFTC oversight; Crypto.com is primarily a crypto exchange with prediction market features.
Tennessee’s regulatory body has taken action against Kalshi, Polymarket, and Crypto.com for allegedly violating state gambling laws by offering unauthorized sports contracts. The platforms must halt operations in Tennessee and issue refunds by January 31 to avoid potential legal consequences.
Source (3.2)https://cryptobriefing.com/tennessee-regulators-target-kalshi-polymarket-crypto-com-sport-betting/?rand=59535
