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TozziniFreire partner argues Brazil needs clearer prediction-market rules
An opinion column on a Brazilian betting industry site argued that prediction markets in Brazil raise unresolved questions about regulatory jurisdiction. TozziniFreire partner Jun Makuta said contracts tied to financial benchmarks could qualify as derivatives and securities, while sports-related products may fall under the Secretariat of Prizes and Betting; the column also described the risks of offering such products without relevant authorisation.
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