Brazil blocks Kalshi and Polymarket in crackdown on prediction markets
Crypto Briefing
Brazil has blocked access to prediction markets like Kalshi and Polymarket, classifying them as illegal betting platforms under new financial regulations.Summary
Brazil’s Finance Ministry, in coordination with the telecom regulator Anatel, has blocked 27 prediction market platforms, including Kalshi and Polymarket. Officials determined that these sites violate new betting regulations that restrict derivatives to specific economic and financial benchmarks. The government argues that these platforms, which offer binary event contracts on outcomes like politics and cultural events, effectively function as unregulated betting rather than legitimate financial products. This action aligns with Brazil’s broader efforts to control its betting market following the launch of its regulated sports and online gaming framework in early 2025.
(Source：Crypto Briefing)