Tennessee Orders Kalshi, Polymarket, Crypto.com to Halt Sports Contracts
- Regulatory Action: The Tennessee Sports Wagering Council has ordered Kalshi, Polymarket, and Crypto.com to immediately cease offering sports event contracts to state residents due to lack of necessary licenses, with potential fines of up to $25,000 per violation for non-compliance.
- Contract Nullification: These platforms must void existing contracts and refund deposits by January 31, 2026, highlighting the impact of state-level enforcement on federally regulated platforms and potential legal conflicts.
- Market Impact: This action primarily affects transactions within Tennessee, underscoring the complex relationship between state and federal regulations, which may prompt other states to pursue similar actions, impacting the crypto derivatives market.
- Compliance Pressure: As states increasingly assert authority over financial products, platforms like Kalshi will need to enhance compliance efforts across multiple jurisdictions to navigate the evolving regulatory landscape.
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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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