Are Prediction Markets Legal in Tennessee?

Last updated September 27, 2026. Snapshot — not legal advice.

As of September 27, 2026, the legality of prediction markets in Tennessee is unresolved — litigation is ongoing with no final ruling yet.

Prediction markets in Tennessee

Contested — Kalshi’s injunction vacated on appeal

A federal judge granted Kalshi a preliminary injunction blocking Tennessee enforcement (February 2026), finding its sports event contracts likely "swaps" under the Commodity Exchange Act. On September 25, 2026 the Sixth Circuit vacated it in a published opinion, holding Kalshi had not shown the contracts are swaps and that, even if they were, the Act would not preempt Tennessee’s gambling law. The injunction ends when the appellate mandate issues, unless Kalshi obtains rehearing or a stay.

Litigation affecting Tennessee

KalshiEX LLC v. Schuler (6th Cir., consolidated with the Tennessee appeal)The Sixth Circuit ruled for Ohio and Tennessee (September 25, 2026, published): sports contracts are not shown to be swaps, and even if they were, the CEA would not preempt either state’s gambling law.

States win: Ohio affirmed, Tennessee vacated (6th Cir.)

Which platforms are available in Tennessee?

Each platform’s own published availability list, checked September 24, 2026. This table covers the platforms whose complete list we could verify from a primary source: Kalshi, Polymarket (international), DKeX (DraftKings Predictions), Underdog (Underdog Predict), Novig.

Platform availability in Tennessee
Platform	Status in Tennessee	Source
Kalshi	Offered here, per the platform’s own availability list	Platform’s list
Polymarket (international)	Unavailable here	Platform’s list
DKeX (DraftKings Predictions)	Financial markets only	Platform’s list (archived Sep 16)
Underdog (Underdog Predict)	Offered here, per the platform’s own availability list	Platform’s list
Novig	Offered here, per the platform’s own availability list	Platform’s list

Sports betting & gambling in Tennessee

Legal — Mobile Only

Legalized 2019; online-only market (no retail sportsbooks or casinos) launched November 2020 The market is regulated by the Tennessee Sports Wagering Council. Tribal gaming: not a factor.

The federal-vs-state fight

Every entry in this fight turns on the same question: does a prediction-market platform's federal regulation by the CFTC preempt a state's gambling law, or does the state retain authority to restrict it? Courts around the country are answering that question differently — sometimes for the platform, sometimes for the state — and almost every ruling so far is preliminary and under appeal. Treat this page as a snapshot, not a final word.

This page is informational, not legal advice. Nearly every litigation entry referenced here is a preliminary ruling under appeal. Always verify a platform's current, location-specific eligibility directly with the venue before relying on this page.