Regulators want licenses and boundaries, not for everyone to play word games.

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Brazil Bans Polymarket, Kalshi Prediction Markets
Brazil has enacted a sweeping ban on prediction markets and betting platforms, according to local media and government filings. The two leading prediction markets, Polymarket and Kalshi, were inaccessible to researchers in the country based on direct testing.

## Regulatory Basis and Scope

The Banc
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