Judge Rules Kalshi Can Temporarily Offer Sports Betting in Tennessee

A judge has ruled that Kalshi, a predictions market operator, can continue offering sports betting services in Tennessee, at least for now. The decision, handed down on January 12, comes amid efforts by the state to halt the company’s operations.

The Tennessee regulatory body responsible for overseeing sports gambling had raised concerns that Kalshi was operating without a wagering license. Additionally, officials alleged that the company allowed individuals under the age of 21 to place bets on matchups, which would violate state rules.

Kalshi is not a typical sports betting platform. Instead of traditional betting, the company enables users to trade "events contracts" based on the outcomes of real-world events. These events range from predictions about the next Federal Reserve chair to forecasts for daily high temperatures in specific locations, such as Miami.

The recent legal ruling provides Kalshi the ability to continue operating in the state for the time being, despite the ongoing regulatory dispute. It remains unclear how the matter will ultimately be resolved.

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