Wallace has been experiencing post-concussion symptoms that include soreness in his neck and jaw, the team said Monday. He's scheduled to be examined by a neurologist this week.
It's unclear when he'll be able to play again.
Wallace was hit in the face by an inadvertent elbow by Sacramento forward Mikki Moore during Friday's loss to the Kings. Wallace lost consciousness and was taken off the court on a stretcher.
It was Wallace's fourth concussion in four seasons with the Bobcats.