🐒 Brazil🇧🇷: the regulator confirmed the illegality of prediction markets and introduced website blocking measures

🐒 Brazil🇧🇷: the regulator confirmed the illegality of prediction markets and introduced website blocking measures

In other words, Polymarket and Kalshi are facing regulatory restrictions, although in late March Kalshi had announced plans to launch a Brazilian service in partnership with XP International.

➡️ According to recent statements by the finance minister and the president’s chief of staff, non-sports betting products (without fixed odds) are not legal in Brazil.

➡️ The National Telecommunications Agency Anatel has already begun enforcing the resolution of the National Monetary Council (CMN), blocking 28 platforms offering event contracts.

➡️ Context: prediction markets entered the Brazilian market offering betting products disguised as financial derivatives. However, the new resolution clearly defines which products are permitted in the derivatives market and which are not. As a result, sporting events, virtual online games, and real or virtual political, electoral, social, cultural, or entertainment events are not considered valid underlying assets for derivative contracts.

➡️ Informational note: since the introduction of gambling regulation in January 2025, authorities have blocked 39,000 unauthorized betting websites, including mirror sites.

#news #Brazil #gambling

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