Tennessee Issues First State-Level Cease-and-Desist Against Polymarket

The Tennessee regulator ordered prediction platform Polymarket to halt operations just weeks after its relaunch in the United States, according to reports.

Summary

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Terms & Concepts
  • Cease-and-Desist Order: A legal directive from a regulator or court requiring an entity to stop alleged unlawful or noncompliant activities.
  • Prediction Market: A platform where users trade contracts based on the outcomes of future events, often using digital assets or blockchain technology.
  • Polymarket: A blockchain-based prediction market allowing users to bet on event outcomes using cryptocurrency.