Tennessee orders Kalshi, Polymarket and Crypto.com to cease sports betting contracts

Tennessee orders Kalshi, Polymarket and Crypto.com to cease sports betting contracts

The firms, federally regulated by the CFTC, were told to shut down Tennessee-based activity, refund deposits, and void open contracts by Jan. 31.

Tennessee Orders Kalshi, Polymarket, Crypto.com to Halt Sports Betting - Invest In Crypto News

Tennessee’s sports betting regulator has ordered prediction market platforms Kalshi, Polymarket and Crypto.com to halt the offering of sports event contracts to residents of the state. In cease-and-desist letters dated Friday, the Tennessee Sports Wagering Council (SWC) accused all three platforms of illegally offering sports wagering products without holding a license issued under the Tennessee Sports Gaming Act, according to copies of the lett…

Tennessee orders prediction platforms to cease operations, BNY launches tokenized deposits, OKX restructures institutional team

In this week’s edition of the weekly recap, Tennessee officials issued cease-and-desist orders to major prediction market platforms alleging unlicensed sports wagering, while BNY advances the tokenized deposit platform launch. Tennessee targets prediction market platforms BNY introduces blockchain deposit settlement…

Tennessee sends cease-and-desist letters to Kalshi, Polymarket, Crypto.com

Tennessee regulator warned that failure to comply could trigger steep fines, court injunctions and potential law enforcement referrals for for …

Tennessee Orders Kalshi, Polymarket, and Crypto.com to Cease Sports Betting Operations

TLDR: Tennessee regulators issued cease-and-desist orders to three prediction markets on Jan. 9, 2025. Platforms must halt operations, void contracts, and refund deposits to Tennessee residents by Jan. 31. Non-compliance could result in $25,000 civil penalties per violation and potential felony charges. Companies argue their CFTC oversight differs from traditional sportsbooks despite state challenges.    Tennessee regulators have ordered three …

Tennessee targets Kalshi, Polymarket, and Crypto.com over sports betting

Tennessee's actions could prompt stricter regulatory scrutiny and compliance challenges for online betting platforms nationwide. The post Tennessee targets Kalshi, Polymarket, and Crypto.com over sports betting appeared first on Crypto Briefing.