Brazil bans Kalshi, Polymarket prediction markets

Brazil has implemented a broad ban on prediction markets and betting platforms, citing investor protection and market integrity concerns. Finance Minister Dario Durigan announced the prohibition of 28 betting platforms, including the prominent prediction markets Kalshi and Polymarket, which were found to be inaccessible within the country. The Banco Central do Brasil's resolution indicates these platforms failed to comply with local regulations for derivatives trading, posing risks to consumers and the financial system. This move reflects a growing regulatory scrutiny of online financial activities and their potential impact on market stability.