Tennessee regulators have ordered Kalshi, Polymarket and Crypto.com to stop offering certain sports-related event contracts in the state, according to reports from CoinDesk and The Block.
The actions were issued as cease-and-desist orders and relate to products described as sports betting contracts or sports event contracts. The reports indicate the orders were directed at all three platforms and focus on their offering of these contracts to Tennessee users.
Details about the specific contracts covered, the timeline for compliance, and any potential penalties were not fully detailed in the reports. It is also unclear from the reports whether the companies plan to challenge the orders or modify their offerings in response. Details are still emerging.
The development matters for users because it may affect access to sports-related event contracts in Tennessee and adds to ongoing scrutiny of how prediction markets and similar products are regulated at the state level.
Key facts
- Tennessee issued cease-and-desist orders involving Kalshi, Polymarket and Crypto.com, according to CoinDesk and The Block.
- The orders relate to sports-related event contracts described in the reports as sports betting contracts.
- The reports describe the action as state-level enforcement in Tennessee.
- Further details on scope, enforcement steps, and company responses were not fully provided in the reports.
Sources
About Leonard Kravets
cryptocurrency journalist and market analyst focused on the intersection of blockchain, culture, and real-world adoption. Known for his clear, data-driven writing style, he covers emerging altcoins, DeFi trends, and the risks behind hype-driven projects. With a strong emphasis on education, transparency, and spotting potential scams before they spread.
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