The Sports Wagering Council (SWC) of Tennessee has issued $250,000 in fines to five illegal offshore gambling operators.
The Nashville-based betting watchdog imposed the massive fines because the five unregistered entities were operating within the state’s borders, which is a violation of the Tennessee Sports Gaming Act.
Tennessee betting regulator imposes $250K in fines on illegal sportsbooks
Betting in the Music City state is tightly regulated by the SWC, and for any operator to offer wagering, it must be awarded a license.
These entities, Costa Rica-based BetAnySports, Bookmaker, and JazzSports, Panama-based BetOnline, and Curacao-based Everygame, were all acting illegally, say the betting overseer.
“Consumers in Tennessee need to be aware that illegal operators will gladly take their money and personal information, and if a consumer does business with an illegal book, they give away their information to criminals,” said SWC Executive Director Mary Beth Thomas.
Each one of the illegal gambling providers was hit with a $50,000 fine, bringing the total penalties issued by the SWC across 2025 to $600,000.
“The SWC is exploring all avenues with its network of law enforcement to eliminate these bad actors from Tennessee,” continued Thomas.
Tennessee pushes back on prediction markets
Earlier this year, in April, the SWC participated in a roundtable event held by the state’s Commodity Futures Trading Commission (CFTC).
The SWC implored that prediction betting markets run by emerging gambling giants, such as Kalshi and Polymarket, went against the legal statutes of the Volunteer State.
Prediction markets are gaining popularity in the United States due to their straightforward “yes/no” approach to the markets they offer. Currently, fifty US states accept the platforms as legitimate operators.
The Nevada Gaming Control Board (NGCB) and the New Jersey Division of Gaming Enforcement (DGE) both issued lawsuits to Kalshi amid pressure from regulatory bodies and licensed gambling entities earlier this year.
Kalshi scored victories in court over both states’ betting regulators in what has been a lengthy court battle. The presiding Judge Kiel in the most recent New Jersey rebuff said that the predictions operator’s contracts and offers fell within the remit of the CFTC.
“I am persuaded that Kalshi’s sports-related event contracts fall within the CFTC’s exclusive jurisdiction and am unconvinced by defendants’ arguments to the contrary,” Judge Kiel wrote in his decision.
This prompted the CFTC to drop its inquiry into Kalshi. The prediction market’s CEO, Tarek Mansour, recently posted a tongue-in-cheek response to critics of the platform on social media, saying “Prediction markets will die after the election” – basically everyone. June was our best month yet.”
"Prediction markets will die after the election" -basically everyone
june was our best month yet pic.twitter.com/VZO9gf45jB
— Tarek Mansour (@mansourtarek_) July 11, 2025
As we reported, policy has shifted in Washington, with Brian Quintenz, who serves on the executive board of Kalshi, being installed as the front-runner by President Trump to run the CFTC.
This would create a direct conflict of interest, according to Democratic Senators Raphael Warnock and Tina Smith, but Quintenz has agreed to step down from his board role if he is appointed.
Featured image: SWC official.
