Coinbase, Kalshi Denied Shield From State Prediction-Market Enforcement

Crypto Insight Summary: The Second Circuit denied interim protection in Connecticut and New York, but its order does not require trading to stop or existing positions to close. Crypto Insight Analysis: Direction: Neutral Impact: No Impact Horizon: Short-term (1-3 days) Reasoning: The ruling did not halt trading or force positions closed, implying no immediate broad crypto market impact.