According to reports, Polymarket is facing a cease-and-desist order from the state of Tennessee, just weeks after its relaunch in the United States. The state's Sports Wagering Council issued the order, along with similar letters to Kalshi and Crypto.com. The letters reportedly threaten potential criminal prosecution. The development represents a regulatory challenge for Polymarket and other platforms operating in the prediction market and cryptocurrency space within the state.

According to reports, Polymarket is facing a cease-and-desist order from the state of Tennessee, just weeks after its relaunch in the United States. The state's Sports Wagering Council issued the order, along with similar letters to Kalshi and Crypto.com. The letters reportedly threaten potential criminal prosecution. The development represents a regulatory challenge for Polymarket and other platforms operating in the prediction market and cryptocurrency space within the state.