Brazil blocks Kalshi and Polymarket in crackdown on prediction markets
Brazil's government blocked access to prediction market platforms Kalshi and Polymarket, citing breach of betting rules. The move follows a new rule limiting derivatives to economic and financial benchmarks.
Brazil's government has blocked access to prediction market platforms, including Kalshi and Polymarket, as part of a regulatory crackdown. Finance Minister Dario Durigan stated that telecom regulator Anatel shut down 27 prediction market platforms after concluding they breached betting rules. The government's decision is based on a new National Monetary Council rule limiting derivatives to economic and financial benchmarks. Contracts tied to sports, politics, and cultural events were excluded from the permitted derivatives framework. Brazil's Finance Ministry argued that prediction markets overlap with fixed odds betting. The country's regulated online betting market launched in January 2025, but current law only allows fixed odds betting tied to real-world sports events and online games.
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