Brazil Blocks 27 Prediction Market Platforms Under New Gambling Rules

Brazil has imposed a block on 27 prediction market platforms, including Polymarket and Kalshi, as part of new regulations that classify most event-based contracts as gambling. According to NS3.AI, this move follows the issuance of Resolution 5.298 by Brazil's National Monetary Council. The block is set to take effect in early May. However, contracts related to inflation, interest rates, exchange rates, or commodity prices will continue to be permitted under financial market regulations.