The Tennessee Sports Wagering Council (SWC) has issued orders to the prediction market platforms Kalshi, Polymarket, and Crypto.com, instructing them to cease offering sports event contracts to residents of the state.
In letters dated Friday, the Council alleged that these platforms are unlawfully providing sports wagering products without the necessary licenses mandated by the Tennessee Sports Gaming Act. Sports betting attorney Daniel Wallach shared copies of the correspondence on X.
The SWC clarified that the sports event contracts available on Kalshi, Polymarket, and Crypto.com’s North American Derivatives Exchange permit users to place wagers on sporting event outcomes, a practice that Tennessee law reserves exclusively for licensed sportsbooks.
The Council contended that labeling these products as “event contracts” does not exempt them from the state’s gambling regulations. Furthermore, the regulator emphasized the importance of consumer protection measures that licensed operators are required to implement, including age restrictions, responsible gaming tools, and anti-money laundering protocols, which it claims are not present in the offerings of these platforms.
https://5star.media/2026/01/12/tennessee-orders-prediction-markets-to-halt-sports-bets/