Brazil bans 27 prediction market platforms including Kalshi and Polymarket

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Odaily Planet Daily News: Brazilian authorities have blocked 27 prediction market platforms, including Kalshi and Polymarket. Brazil’s Secretary of the Treasury, Dario Durigan, said that Resolution No. 5.298 issued by the National Monetary Council will take effect in May. Under the new rules, contracts involving sports, political, entertainment, or social events will be classified as gambling rather than financial investments. At present, only contracts related to economic indicators such as inflation, interest rates, exchange rates, or commodity prices are allowed. The blocked platforms also include PredictIt, Robinhood’s prediction feature, and Fanatics Markets. The authorities said the move is intended to prevent household debt from increasing and to circumvent financial risks.

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