Tennessee Orders Kalshi, Polymarket, and Crypto.com to Cease Sports Betting Contracts by 2026
- Regulatory Action: The Tennessee Sports Wagering Council has issued cease-and-desist orders to Kalshi, Polymarket, and Crypto.com, demanding they terminate existing sports betting contracts and process user refunds by January 31, 2026, highlighting stringent state-level oversight of online sports betting.
- Compliance Challenges: The absence of a Tennessee sports wagering license equates the platforms' activities to unlawful betting, which may lead to regional revenue impacts and compliance costs, although a significant financial shock is not anticipated.
- Legal Consequences: Sports betting attorney Daniel Wallach noted that lawsuits against these platforms are imminent, and historical trends suggest such regulatory actions typically result in regional suspensions rather than widespread closures.
- Market Reaction: While sentiment for USDC and CRO may experience minor fluctuations due to perceived U.S. regulatory risks, the lack of pronounced social media commentary indicates that the community views this as a localized issue.
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Technical Analysis for
Technical Sentiment Analysis for () As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
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