Tennessee sent cease-and-desist orders to Kalshi, Polymarket and Crypto.com over their prediction market operations, according to the report. The orders require the companies to stop operating in the state and refund customer deposits.
The orders require three prediction-market operators to stop serving Tennessee customers and return deposits.
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Missouri Attorney General Catherine Hanaway ordered Polymarket, Kalshi, Crypto.com, Novig, Underdog and Robinhood to comply with state sports wagering laws or stop offering sports event contracts in Missouri. The companies have 30 days to confirm compliance; the state says the contracts require Missouri Gaming Commission licences, and Robinhood disputes the state’s position.
Wisconsin’s Department of Justice has sued prediction market platforms, alleging that their sports event contracts enable illegal sports gambling under state law. The companies named include Crypto.com, Polymarket, Coinbase, Robinhood and Kalshi; Wisconsin Attorney General Josh Kaul said the contracts amount to sports bets.
Arizona filed criminal charges against prediction-market operator Kalshi, the report said. The charges include 16 counts of illegal betting and wagering and four counts of illegal election wagering, each a misdemeanour carrying a maximum penalty of $20,000. Kalshi said it considers its markets legal under federal law.
Nevada state defendants said in a court status report filed on 10 February that they intend to begin state-court proceedings against Kalshi on 17 February 2026. The report says regulators argue the platform’s event contracts amount to unlicensed sports betting; Kalshi maintains that federal law pre-empts state gaming regulation of its markets.
Nevada's Gaming Control Board filed a civil enforcement action against Blockratize, the company behind Polymarket, alleging that its sports-related event contracts amount to unlicensed wagering in Nevada. The Board says such contracts require a state licence and considers the platform's operations unlawful in the state.