Background: The necessity of closed-suction drainage in the era of tranexamic acid (TXA) during total knee arthroplasty (TKA) is still up for debate. This prospective randomized study aimed to compare the clinical and hematological outcomes of primary TKA performed with and without a drain, all while following a standardized TXA protocol. Methods: We enrolled thirty patients undergoing unilateral primary TKA, who were then block-randomized into two groups: the Drain group (n = 15) and the No-Drain group (n = 15). Each patient received weight-based intravenous TXA at the time of induction and again three hours after the incision. The primary outcome measured was mid-patellar swelling at 24 hours, while secondary outcomes included visual-analogue pain scores, total drain output, active knee flexion (measured on post-operative days [POD] 1, 3, 5; and at weeks 2 and 6), hemoglobin levels on POD 1 and 3, transfusion rates, wound complications, length of hospital stay, and skin-to-skin surgical time. Assessors were kept blind to the group allocations. Continuous data were analyzed using independent t-tests or Mann-Whitney U tests, and repeated measures were evaluated with mixed-effects models. Results: The drainage group had an average output of 330 mL by POD 2. At the 24-hour mark, swelling was less in the drain group (2.8 cm ± 0.7 vs 3.5 cm ± 0.9; p = 0.02), although this difference disappeared by 48 hours. The decline in hemoglobin, transfusion rates (Drain 13% vs No-Drain 7%; p = 0.55), pain scores, complications, and length of stay (4.8 ± 0.9 vs 4.3 ± 0.8 days; p = 0.09) were similar between the two groups. Interestingly, the No-Drain group achieved better knee flexion at week 2 (112° ± 10 vs 105° ± 11; p = 0.04), but this advantage faded by week 6. There were no reported cases of deep infections or thrombo-embolic events. Conclusion: In conclusion, when it comes to primary total knee arthroplasty (TKA) using modern tranexamic acid (TXA) protocols, using routine closed-suction drainage doesn’t really provide much early advantage and doesn’t enhance either bleeding control or functional results. So, ditching the drains could make postoperative care easier without putting safety or recovery at risk.