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

Golden Finance reports that, according to Cointelegraph, Brazilian authorities have announced the banning of 27 prediction market platforms, including Kalshi, Polymarket, PredictIt, Robinhood (prediction feature), and Fanatics Markets.
This ban is led by the Ministry of Finance and executed by the National Telecommunications Agency (Anatel), based on Resolution No. 5,298 issued by the Brazilian Central Bank (CMN), 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 linked to economic indicators such as inflation, interest rates, exchange rates, and commodity prices are retained.
Secretary of the Ministry of Finance, Dario Durigan, 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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