Appeals Court Denies Kalshi and Coinbase Temporary Protection

Kalshi and Coinbase face another legal setback in their battle against state-level regulation of prediction markets. The US Court of Appeals for the Second Circuit refused their requests to temporarily block New York and Connecticut officials from enforcing gambling laws on their contracts for sports events. Kalshi and Coinbase Face Continued Legal Pressure in New York and Connecticut The ruling , dated November 3, deals with three separate appeals between the two companies. Kalshi is fighting enforcement actions by New York State’s Gaming Commission and the Connecticut Department of Consumer Protection .