Brazil banned prediction markets like Polymarket and Kalshi, but the betting-style platforms keep growing, a fresh challenge before the 2026 election.
Key Facts
—The ban. Brazil ruled prediction markets illegal in April and blocked around 28 platforms, including Polymarket and Kalshi.
—The problem. Despite the block, the platforms keep drawing Brazilian users and media attention.
—The rule. A central bank resolution bars derivatives tied to sports, politics or other non-economic events.
—The scale. Global trading on such platforms leapt from under $5bn to about $24bn between late 2025 and April.
Spain is the latest country to clamp down on the rising use of prediction market platforms like Polymarket and Kalshi.
Spain's DGOJ orders ISPs to block Polymarket and Kalshi for unlicensed betting products, joining Brazil, Argentina, and Ukraine…
Enquanto o debate público se concentra nas casas de apostas, plataformas de previsão operam em uma zona cinzenta e brasileiros…
Spain’s Consumer Rights Ministry temporarily banned so-called prediction markets Polymarket and Kalshi for operating in the…
Minnesota has banned the platforms outright, Massachusetts is suing Kalshi, and nearly 70% of Americans want government officials…
The move comes after several online gamblers scored big wins by betting on U.S. government decisions, including those tied to…
