- Brazil has banned prediction markets related to sports, politics, culture, and entertainment.
- Kalshi и polymarket became inaccessible after authorities blocked platforms that did not comply.
The Brazilian government has officially banned 27 prediction platforms, including Kalshi и polymarketThe National Monetary Council issued Resolution No. 5298, which prohibits derivative financial instruments based on non-economic events such as sporting competitions, political elections, and cultural events.
Authorities statedthat such services do not fall under current Brazilian law and, therefore, operate illegally.
We have been monitoring the development of this sector in Brazil, which experienced a period of anarchy from 2018 to 2022 due to a lack of regulations and controls, said Dario Durigan, Executive Secretary of the Ministry of Finance.
Initially, 27 platforms were blocked for “illegal gambling,” but Brazil’s Securities and Exchange Commission later clarified that derivatives trading remains legal only if it is linked to approved economic indicators (such as exchange rates or interest rates) and “carried out by authorized companies.”
polymarket was banned for offering unlicensed binary contracts on events. At the same time, Kalshi was blocked due to new restrictions on non-financial event contracts, despite the fact that the company entered into a partnership agreement with Brazilian brokerage XP International in March 2026.
Brazil became the third Latin American country to restrict forecast markets, after Argentina and Colombia.
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