[U.S. Second Circuit Court of Appeals Rejects Injunction Petitions by Coinbase and Kalshi] The U.S. Second Circuit Court of Appeals rejected an appeal by Coinbase Financial Markets and Kalshi seeking an injunction in connection with enforcement actions against prediction markets in Connecticut and New York. The court heard cases involving Coinbase in Connecticut and Kalshi in Connecticut and New York. The judge stated that the applicants failed to demonstrate the necessity of an injunction during the appeal process. The ruling did not address the substantive issues of the appeals, nor did it require the platforms to cease trading or close existing positions.