2026-01-11 10:27:16

Tennessee authorities have issued an enforcement order requiring prediction market platforms Polymarket and Kalshi to cease all sports betting contract operations within the state. The directive mandates that both firms immediately halt Tennessee-based activities, process full refunds of customer deposits, and terminate all open contracts by January 31st. This regulatory action reflects growing scrutiny of decentralized prediction markets in the US, particularly around sports wagering compliance. The order underscores the tension between on-chain betting protocols and state-level gaming regulations. Market participants in affected jurisdictions should review position exposure and anticipated refund timelines. The move signals intensifying enforcement efforts targeting crypto-native betting platforms, potentially prompting similar actions across other states with restrictive gaming statutes.

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LostBetweenChains

· 01-11 19:15

Here we go again, the regulatory stick continues to swing... Tennessee is serious this time, with Polymarket and Kalshi directly ordered to shut down and refunds required. This move seems to indicate that other states are also about to follow suit. On-chain protocols really can't compete with the state-level approach.

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ChainBrain

· 01-11 10:57

The regulatory crackdown is back; Polymarket and Kalshi are about to face difficulties in Tennessee.

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HashRateHermit

· 01-11 10:53

Here we go again, the state government really can't sit still... Honestly, it's the same old trick, every time the crypto world comes up with innovation, it gets shut down.

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hodl_therapist