جدل حظر ولاية تينيسي: توقف أنشطة عقود الأحداث الرياضية على منصات مثل Kalshi و Polymarket

【Chain Article】The United States has sparked a new regulatory turbulence. Tennessee’s regulatory department recently issued prohibitions to several well-known crypto platforms — Kalshi, Polymarket, and Crypto.com must stop providing sports event contract services to users in the state.

What’s the reason? These platforms did not obtain the required licenses when operating in the state. According to Tennessee’s Sports Betting Law, if you want to accept sports betting-related business, you must apply for a permit from the state government, which is a mandatory requirement.

However, the backgrounds of these companies are not simple either. They have already registered with the U.S. Commodity Futures Trading Commission (CFTC) as designated contract markets, allowing users to directly buy and sell contracts on the platform based on sports event outcomes. The problem lies here — CFTC registration and state government licensing are two different things. One is federal-level approval, the other is a state-level requirement, and the collision between two legal systems ultimately must defer to local regulations.

This also reflects the complex situation facing the crypto industry in the United States: overlapping jurisdictions and skyrocketing compliance costs.