Another Prediction Market Company Sues Tennessee over Sports Betting Laws Weeks After State's Victory over Kalshi

Another Prediction Market Company Sues Tennessee over Sports Betting Laws Weeks After State's Victory over Kalshi

Less than a month after an injunction freezing Tennessee's ability to regulate sports-event contracts on prediction markets was dissolved by the Sixth Circuit Court of Appeals, a new lawsuit by another prediction market company was filed against the Volunteer State on Tuesday. The lawsuit was filed by Underdog Exchange DCM, Inc. and UDM, LLC, which operate the prediction market business of Underdog Sports Holdings, Inc., a company that British f…

Underdog Tennessee Lawsuit: Event-Contract Exchange

Underdog Tennessee lawsuit seeks to block enforcement of wagering laws against its CFTC-regulated event-contract exchange in federal court.

Underdog sues Tennessee after state threatens fantasy license

Underdog sued Tennessee officials Tuesday over an order to stop offering sports event contracts, challenging a crackdown that threatens both its prediction markets business and a fantasy sports license. The lawsuit comes less than three weeks after the Sixth Circuit Court of Appeals rejected Kalshi’s attempt to shield its sports contracts from Tennessee and Ohio […]

Underdog Sues Tennessee Over Sports Prediction Contracts

Tennessee is the seventh state Underdog has sued over sports event contracts. This time, it is fighting in a jurisdiction where an appeals court has already rejected Kalshi’s central argument.

Underdog Sues Tennessee After Cease-and-Desist Notice

Underdog this week filed a lawsuit in U.S. District Court for the Middle District of Tennessee Nashville Division against Tennessee Attorney General Jonathan Skrmetti and the Tennessee Sports Wagering Council in response to a cease-and-desist notice the company received earlier this month. The Tennessee Sports Wagering Council sent Underdog a cease-and-desist notice for its sports … Continued

Tennessee Targets Unlicensed Sportsbooks While Underdog Sues State

The Tennessee Sports Wagering Council ordered Sportbet and FullStarSportsbook to stop accepting bets in the state by Oct. 30. Underdog sued Tennessee in federal court after receiving its own cease-and-desist over its prediction markets. A Sept. 25 Sixth Circuit ruling against Kalshi could make Underdog’s case an uphill battle. NASHVILLE, Tenn. – Tennessee regulators are fighting on two fronts this month. The Tennessee Sports Wagering Council (SW…