😱 Brazil🇧🇷: the regulator has blocked more than 27,000 illegal sites and plans to continue enforcement

😱 Brazil🇧🇷: the regulator has blocked more than 27,000 illegal sites and plans to continue enforcement

On March 4, during the SBC Summit Rio event, two representatives of Brazil’s betting market regulators — the Secretary of Lotteries and Betting at the Ministry of Finance and the Secretary for Sports Betting and Economic Development at the Ministry of Sports — appeared on a joint panel, presenting an overview of the sector.

➡️ Key priorities included compliance by licensed operators with regulatory requirements and combating the illegal market.

➡️ Additional aspect: regulators expressed concern about the rise of prediction markets, particularly in the format where probability trading is offered in the United States🇺🇸 (for example, Polymarket). Such platforms are already present in Brazil, and authorities stated that if they intend to operate in the betting segment, they must apply for licenses and comply with regulatory procedures.

➡️ The issue also arises in the context of an announcement by Brazilian operator XP, which reported a partnership agreement with the U.S.-based platform Kalshi, aimed at offering contracts linked to local economic indicators.

#news #Brazil #gambling

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