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.    [...]

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