Brazil bans 27 prediction market platforms, with Kalshi, Polymarket, and others listed as illegal

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Deep Tide TechFlow News, April 25th, according to Cointelegraph reports, Brazilian authorities announced the banning of 27 prediction market platforms, including Kalshi, Polymarket, PredictIt, Robinhood (prediction feature), and Fanatics Markets. This ban was led by the Ministry of Finance and executed by the National Telecommunications Agency (Anatel), based on Resolution No. 5,298 issued by the Central Bank of Brazil (CMN) on April 25th, which will take effect officially in early May.

The new regulations explicitly prohibit prediction contracts linked to sports, political, entertainment, or social events, deeming them more akin to gambling rather than financial investments; only contracts related to economic indicators such as inflation, interest rates, exchange rates, and commodity prices are retained. Dario Durigan, Secretary of the Ministry of Finance, stated that prediction markets could deepen debt burdens for families and small to medium-sized enterprises and pose financial risks. Currently, countries such as France, Belgium, and the Netherlands have already implemented similar restrictions.

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