The Tennessee Sports Wagering Council has targeted three major prediction market operators with cease-and-desist letters, according to documents published by gaming attorney Daniel Wallach.
The Council sent letters to Kalshi, Polymarket, and the North American Derivatives Exchange, which is operated by Crypto.com, on 9 January.
The letters ordered the platforms to immediately stop offering sports event contracts to Tennessee residents, to void all existing contracts, and refund customer deposits by the end of January.
Mary Beth Thomas, Executive Director of the Tennessee Sports Wagering Council, wrote that the platform’s sports event contracts don’t comply with the state’s consumer protection requirements and pose a significant threat to the public interest.
