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Coinbase, Kalshi Denied Shield From State Prediction-Market Enforcement

The Defiant·November 4, 2026·1 min read
Coinbase, Kalshi Denied Shield From State Prediction-Market Enforcement

The Second Circuit denied interim protection for Coinbase and Kalshi in Connecticut and New York, allowing state enforcement actions to proceed. The order does not require trading to stop or existing positions to close, leaving the companies to continue operations while legal challenges unfold.

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