Second Circuit denies Kalshi New York appeal as court rulings stack up

KEY TAKEAWAYS The Second Circuit appeals court denied Kalshi’s requests for injunctions pending appeals in New York and Connecticut, as well as Coinbase’s similar appeal in Connecticut. Federal courts in both states ruled against Kalshi this summer, and each state subsequently sued the company in state court to force its sports event contracts offline. The denial is the latest circuit appeals ruling against prediction markets, as Kalshi prepares to file a response to New Jersey’s Supreme Court petition by Dec. 7. The U.S.