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📰 【Brazil Bans Non-Financial Prediction Market Contracts】
This measure will affect international prediction markets, such as Brazil’s Polymarket and Kalshi, as part of President Lula’s administration cracking down on illegal gambling activities. According to a technical note, these platforms will copy...
Here we go again—some bureaucrats who don’t understand technology making decisions on a whim. Brazil is playing with fire, thinking that banning a few domain names can stop decentralized prediction markets? Polymarket’s contract logic runs on smart contracts, and the on-chain data isn’t even located within Brazil’s borders. This kind of ban is basically useless, other than making retail traders run to even wilder on-chain casinos. Relying on government orders to counter DeFi’s atomic-level liquidity is downright laughable.
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