Brazilian Authorities Ban 27 Prediction Platforms including Kalshi and Polymarket

BlockBeats News, April 25th, Brazilian authorities have taken action to ban 27 prediction market platforms, including Kalshi and Polymarket. According to the new regulations, contracts related to sports, politics, entertainment, or social events are prohibited, as these contracts are deemed closer to gambling than financial investment. Only contracts tied to economic indicators such as inflation, interest rates, exchange rates, or commodity prices are allowed and are under financial market regulation.

This crackdown stems from Resolution No. 5.298 issued by the Brazilian Monetary Council (CMN) last Friday, which will take effect in early May and significantly restrict the service scope of prediction market platforms.