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Macro EconomyUpdated•Originally published 27 April 2026•Updated 28 April 2026•

1 min read

Brazil Bans 27 Prediction Platforms Including Polymarket and Kalshi to Curb Debt

Key Facts

1Brazilian authorities have moved to shut down 27 prediction market platforms, including Kalshi, Polymarket, and PredictIt.

2New rules ban contracts tied to sports, politics, and entertainment, allowing only those linked to economic indicators like inflation and interest rates.

3The Brazilian Ministry of Finance justified the ban as a measure to reduce household debt and protect users from gambling-like activities.

Brazilian authorities have banned 27 prediction market platforms, including Polymarket and Kalshi, to protect users from gambling-related debt. While the new rules prohibit contracts tied to sports and politics, they provide exemptions for economic indicators and financial assets. In a strategic move following the ban, the domestic B3 exchange launched six new federally regulated event contracts, including bets on the price of Bitcoin. These new contracts leverage the legal exemption for financial assets, allowing regulated domestic trading despite the crackdown on global platforms. Analysts suggest this shift aims to localize the prediction market and ensure it operates within the official financial system's oversight. This development highlights Brazil's dual approach of tightening control over offshore entities while fostering a regulated domestic market for event-based derivatives.

about 1 month ago

Version History

Version 1about 1 month ago

What changed: The story was updated to include the launch of regulated event contracts by Brazil's B3 exchange, including Bitcoin bets, utilizing exemptions from the recent ban.