Legal tracker / Kalshi & Coinbase v. Connecticut
Case · as of Oct 15, 2026
Kalshi & Coinbase v. Connecticut
For the states PIs denied; appeals pending
Judge Vernon D. Oliver denied preliminary injunctions to Kalshi and Coinbase in August 2026, rejecting their preemption challenges to Connecticut's enforcement. Both appealed, and the Second Circuit ordered the appeals heard in tandem with Kalshi's New York appeal. Connecticut's AG and DCP then sued Kalshi to stop unlicensed sports wagering (announced Aug. 26, 2026), and DCP issued cease-and-desist orders to nine more platforms in September.
Case record last checked against its sources on Sep 22, 2026.
| Case | KalshiEX LLC v. Cafferelli (with Coinbase Financial Markets, Inc. v. Tong) |
| Court | U.S. Court of Appeals for the Second Circuit; U.S. District Court for the District of Connecticut |
| Docket | 26-2239 and 26-2297 (2d Cir.); 3:25-cv-02016 and 3:25-cv-02121 (D. Conn.) |
| Filed | 2025-12 |
| Type | Preemption suit |
| Companies | Kalshi, Coinbase |
| Other side | Connecticut Department of Consumer Protection (Commissioner Bryan Cafferelli et al.) and Attorney General William Tong |
| Last action | Sep 3, 2026: Second Circuit directed Nos. 26-2297, 26-1835 and 26-2239 to be heard in tandem. |
| Next date | : Second Circuit briefing; argument not yet scheduled. |
History
Newest first.
| Date | What happened |
|---|---|
| Sep 10, 2026 | DCP issued cease-and-desist orders to nine other platforms. |
| Sep 3, 2026 | Tandem-hearing order in the Second Circuit. |
| Aug 26, 2026 | Connecticut AG and DCP announced suit against Kalshi. |
| Aug 11, 2026 | Kalshi filed notice of appeal (No. 26-2239). |
| Aug 10, 2026 | District court denied PIs to Kalshi and Coinbase (date per WL citations in NJ cert petition; the Second Circuit docket references a memorandum and order dated Aug. 7). |
Sources
Kalshi & Coinbase v. Connecticut: questions
What is the status of Kalshi & Coinbase v. Connecticut?
PIs denied; appeals pending. Judge Vernon D. Oliver denied preliminary injunctions to Kalshi and Coinbase in August 2026, rejecting their preemption challenges to Connecticut's enforcement. Both appealed, and the Second Circuit ordered the appeals heard in tandem with Kalshi's New York appeal. Connecticut's AG and DCP then sued Kalshi to stop unlicensed sports wagering (announced Aug. 26, 2026), and DCP issued cease-and-desist orders to nine more platforms in September.
What happened most recently in Kalshi & Coinbase v. Connecticut?
Sep 3, 2026: Second Circuit directed Nos. 26-2297, 26-1835 and 26-2239 to be heard in tandem.
What is the next date in Kalshi & Coinbase v. Connecticut?
: Second Circuit briefing; argument not yet scheduled.
Compiled from court dockets, opinions, regulator releases and news coverage, linked above. Not legal advice. Connecticut: every action · All cases · Interactive tracker