According to reports, Polymarket is facing a cease-and-desist order from Tennessee's Sports Wagering Council. The order comes just weeks after the platform's relaunch in the United States. The council also issued similar letters to Kalshi and Crypto.com, threatening potential criminal prosecution. The development signals increasing regulatory scrutiny within the cryptocurrency and prediction market space, as state-level authorities begin to take action against platforms they believe are operating outside of established legal frameworks.

According to reports, Polymarket is facing a cease-and-desist order from Tennessee's Sports Wagering Council. The order comes just weeks after the platform's relaunch in the United States. The council also issued similar letters to Kalshi and Crypto.com, threatening potential criminal prosecution. The development signals increasing regulatory scrutiny within the cryptocurrency and prediction market space, as state-level authorities begin to take action against platforms they believe are operating outside of established legal frameworks.