Five states have passed laws or implemented executive orders this year limiting the ability of transgender youths to play sports or receive certain medical treatment. There's been a vehement outcry from supporters of transgender rights – but little in the way of tangible repercussions for those states.

It's a striking contrast to the fate of North Carolina a few years ago. When its Legislature passed a bill in March 2016 limiting which public restrooms transgender people could use, there was a swift and powerful backlash. The NBA and NCAA relocated events; some companies scrapped expansion pla...