Blockchain

Coinbase, Kalshi Denied Shield From State Prediction-Market Enforcement

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Based on a feed excerpt; full article content has not been acquired. Source evidence retrieved 04/11/2026, 11:57:24 UTC.

Briefings

The Second Circuit Court denied interim protection for trading restrictions in Connecticut and New York, though its order does not mandate immediate trading halts or position closures. This ruling leaves market participants uncertain about enforcement timelines and potential legal challenges. The case involves state-level prediction market enforcement efforts, but specific details on affected entities remain unclear.

Key points

• The Second Circuit Court denied interim protection for trading restrictions in Connecticut and New York.
• The court's order does not require trading to stop or existing positions to close.

Context

State prediction markets face enforcement challenges as courts deny interim protections, leaving market participants uncertain about trading restrictions and potential legal challenges.

Limitations

Evidence is limited to the Second Circuit's denial of interim protection; specific details on affected entities, timelines, and enforcement mechanisms remain unclear.

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