News Summary

• Brazil has moved to shut down 27 prediction market platforms, including Kalshi and Polymarket.
• The decision follows a directive from the Ministry of Finance and enforcement by the National Telecommunications Agency (Anatel) Authorities claimed that such services fall outside Brazil’s current legal framework and therefore operate illegally.
• The crackdown follows Resolution 5.298, which takes effect in early May and sharply limits what prediction markets can offer.
• Under the new rules, contracts tied to sports, politics, entertainment, or social events are banned, as authorities consider them closer to gambling than financial investments.
• Only contracts linked to economic indicators, such as inflation, interest rates, exchange rates, or commodity prices, will remain allowed and fall under financial market oversight.