The "Magic Mike" star was set to play X-Men character Gambit in his own movie in 2016, but after production delays, the movie never happened.
Tatum and his producing partner, Reid Carolin, were producing the movie and also wanted to direct, but the studio was against it. The two had already cast the movie and were close to shooting in New Orleans.
"The studio really didn't want us to direct it," Tatum told Variety. "They wanted anybody but us, essentially, because we had never directed anything."
When Disney merged with Fox in 2019, they decided to redesign the X-Men franchise "from the ground up," said Tatum, who was devastated.
"Once 'Gambit' went away, I was so traumatized," he said, adding that he can't watch any Marvel movies now.
"I shut off my Marvel machine. I haven't been able to see any of the movies. I loved that character. It was just too sad. It was like losing a friend because I was so ready to play him," he said, noting that Gambit was the "coolest."
"Most superheroes, their outfits are utilitarian. Batman's got his belt. Gambit's like, 'No, this s**t's just fly, bro! This s**t walked down the Paris runway last year.' He's just wearing the stuff that's so dope because he loves fashion," Tatum said.