Brazil Blocks 27 Prediction Markets, Including Kalshi and Polymarket

Brazilian authorities have blocked access to 27 prediction market platforms, including Kalshi and Polymarket, according to Odaily Planet Daily. Dario Durigan, executive secretary at Brazil's Ministry of Finance, said National Monetary Council Resolution No. 5,298 will take effect in May. Under the new rule, contracts linked to sports, politics, entertainment, or other social events will be treated as gambling rather than financial investments. Only contracts tied to economic indicators—such as inflation, interest rates, exchange rates, or commodity prices—will be allowed. Other platforms affected include PredictIt, Robinhood's prediction feature, and Fanatics Markets. Authorities said the measures are intended to curb rising household debt and reduce related financial risks.