Gate News message, April 25 — Brazil’s central bank has enacted a comprehensive ban on prediction market platforms, prohibiting major prediction markets and approximately 28 other betting platforms from operating in the country. The ban, outlined in a resolution by Banco Central do Brasil, cited non-compliance with local derivatives trading regulations and risks to investor protections and market integrity.
The central bank’s resolution specifically prohibits the offering and trading of derivative contracts tied to real sporting events, virtual gaming events, and political, electoral, social, cultural, or entertainment events that lack economic or financial benchmarks. Finance Minister Dario Durigan characterized the move as part of a broader governmental effort to protect Brazilian savings amid rising online gambling concerns.
The ban reflects a global trend of regulatory tightening around prediction markets. Polymarket is currently blocked by over 30 countries worldwide, including France, Belgium, Australia, the UK, Italy, Poland, and Singapore. This contrasts sharply with the United States, where the Commodity Futures Trading Commission has adopted a permissive stance following a successful 2024 lawsuit that opened the door for prediction market platforms. The CFTC is currently defending the sector against state-level bans, with Wisconsin recently filing suit against multiple platforms over alleged violations of the state’s commercial gambling restrictions.
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