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If played post-canon (which is the default) Misty has, in fact, quit the NYPD and taken up as a private investigator and all (with Colleen unless told otherwise). This is what happens in the comics (or, well, there they're officially bail bondswomen, which often turns into detective work/vigilante opportunities) and I'm almost positive this is what would have happened in Netflix canon had the shows not been cancelled. It's what I'm more comfortable writing and honestly, I think Misty would agree that ACAB and she doesn't wanna be part of that.