Brazilian authorities ban 27 prediction platforms including Kalshi and Polymarket

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BlockBeats News, April 25 — Brazilian authorities have taken action to ban 27 prediction market platforms, including Kalshi and Polymarket. According to new regulations, contracts related to sports, politics, entertainment, or social activities are prohibited, as authorities consider these contracts closer to gambling rather than financial investments. Only contracts linked to economic indicators such as inflation, interest rates, exchange rates, or commodity prices are permitted and will be regulated by financial market authorities.

This crackdown stems from Resolution No. 5.298 issued by the National Monetary Council (CMN) on Friday, which will take effect in early May and significantly restrict the scope of services offered by prediction market platforms.

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