Waiters was injured when he came down awkwardly after a dunk Tuesday against Philadelphia. He limped to the other end of the court before going down in pain. Waiters was on the court for several moments before going to the locker room.
The Cavaliers announced Waiters had an MRI on Wednesday. Waiters said on his Twitter account that the knee is sore, but nothing is torn.
Waiters, who has been the subject of trade rumors, averages 14.3 points.
Center Anderson Varejao will miss his fourth straight game with a sore back.