Brazil has enacted a sweeping ban on prediction markets and betting platforms, including the leading platforms Polymarket and Kalshi, according to local media and government filings. The Banco Central do Brasil issued a resolution citing non-compliance with local derivatives trading regulations and risks to investor protections and market integrity. Finance Minister Dario Durigan stated that some 28 platforms were banned in total as part of a broader governmental effort to protect Brazilian savings amid a rise in online gambling.
Regulatory Basis for the Ban
In a resolution published by the Banco Central do Brasil, the central bank prohibited “the offering and trading in the country of derivative contracts whose underlying assets are related to: a real sporting event, virtual online gaming event and a real or virtual event of a political, electoral, social, cultural, entertainment, or any other nature that, at the discretion of the Securities and Exchange Commission, is not representative of an economic or financial benchmark.”
The platforms were determined to be non-compliant with local regulations on derivatives trading, raising concerns about investor protections and market integrity.
Global Restrictions on Polymarket
Polymarket is already blocked by over 30 countries around the world, according to its documentation, including OFAC restrictions and national bans. In January 2026, Portugal moved to restrict the platform, following similar moves by France, Belgium, Australia, the UK, Italy, Poland, and Singapore, among others. In some countries, only specific markets are banned, such as political betting in Taiwan.
U.S. Regulatory Contrast
The United States historically prevented for-profit prediction markets until Kalshi successfully sued the Commodity Futures Trading Commission for blocking its election markets in 2024, opening the way for platforms like Polymarket to reenter the country. Today, the CFTC takes a permissive view of prediction markets and is currently suing several states that are looking to ban the sector.
As of Friday, Wisconsin is the most recent state to lodge a lawsuit against Kalshi, Robinhood, Coinbase, Polymarket, and Crypto.com, alleging their sports event contracts violate the state’s commercial gambling ban.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Polymarket Non-Sports Volume Reaches $7.5B vs. Kalshi's $1.6B, Says Blockchain Capital Partner
Gate News message, April 27 — According to Spencer Bogart, a partner at Blockchain Capital, Kalshi and Polymarket have nearly identical total trading volumes of approximately $12.2 billion each (Kalshi at $12.29 billion, Polymarket at $12.22 billion). However, when sports-related trades are
GateNews21m ago
Loss-Making Account Bets $250K on Rockets in NBA Playoff Game 4 vs Lakers on Polymarket
Gate News message, April 27 — According to Odaily Seer, a loss-making account (0x492442eab586f242b53bda933fd5de859c8a3782-1766317541188) with cumulative losses exceeding $3.4 million purchased approximately $250,000 worth of prediction contracts betting on the Houston Rockets to defeat the Los
GateNews30m ago
Polymarket Upgrades Platform on April 28, Migrating Collateral from USDC.e to pUSD
Gate News message, April 27 — Polymarket announced it will upgrade its platform on April 28, 2026, at approximately 19:00 UTC, with trading suspended for about one hour during the maintenance window. The upgrade includes a new-generation trading contract (CTF Exchange V2), a reconstructed order book
GateNews52m ago
Study Finds Only 3% of Polymarket Traders Are Skilled, Capturing Over 30% of Gains
Gate News message, April 26 — A new academic paper analyzing Polymarket transactions from 2023 through 2025 concludes that the platform's accuracy reflects "the wisdom of an informed minority, not the wisdom of the crowd." The research, revised April 25 by scholars from London Business School and
GateNews3h ago
Brazil Bans Polymarket, Kalshi, 26 Other Prediction Platforms
Brazil has enacted a sweeping ban on prediction markets and betting platforms, according to local media and government filings. The two leading prediction markets, Polymarket and Kalshi, were confirmed inaccessible to researchers based in the country, with the Banco Central do Brasil publishing a fo
CryptoFrontier5h ago
Polymarket Bets on MegaETH Launching with Over $1B Valuation: 88% Probability
Gate News message, April 26 — According to Polymarket prediction market data, there is an 88% probability that MegaETH will have a fully diluted valuation (FDV) exceeding $1 billion one day after launch. Earlier reports indicate the token's TGE is expected on April 30.
Market participants are
GateNews15h ago
