Brazil Bans 27 Prediction Platforms, Including Kalshi and Polymarket
Brazil has banned 27 prediction platforms, including Kalshi and Polymarket, citing illegality and potential financial harm.Summary
Brazilian authorities have banned 27 prediction market platforms, including prominent international services like Kalshi and Polymarket, as well as several Brazil-focused ones. The Ministry of Finance and the National Telecommunications Agency (Anatel) announced the directive, stating these platforms operate outside the current legal framework and are considered illegal. Finance Ministry executive secretary Dario Durigan explained that the sector experienced a period of "anarchy" from 2018 to 2022 due to a lack of rules and oversight. A new resolution, effective in May, will ban contracts tied to sports, politics, and entertainment, classifying them as gambling. Only contracts linked to economic indicators like inflation and interest rates will be permitted under financial market oversight. Authorities also expressed concerns that these markets could deepen household debt and cause financial harm to users.
(Source：Cointelegraph)