Brazil’s Ministry of Finance said it sent Anatel a list of 28 companies accused of offering event contracts without a local licence, and access to the platforms has been blocked. Anatel is using the process applied to unlicensed online gambling, while the ministry says prediction markets constitute illegal gambling.
The blocks affect access to prediction market operators and signal enforcement of Brazil’s gambling rules.
| Date | Company | Amount | Story | Appeal status |
|---|---|---|---|---|
| Kalshi, Polymarket | Not stated | Brazil finance ministry bars 27 prediction-market platforms | Not stated | |
| Not named | Not stated | Brazilian authorities bar prediction markets and block 28 platforms | Not stated | |
| Apple, 1win | Not stated | Brazilian authorities face report of illegal betting apps operating on iPhones | Not stated |
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Prediction-market platforms including Kalshi and Polymarket face restrictions in Brazil, where the activity is permitted only in the economic and financial sphere under securities regulator CVM oversight, the report said. Analysts at Bernstein estimate World Cup 2026 could add about US$3 billion in bets and take total platform trading volume to as much as US$10 billion. Sports and political contracts are barred outside regulated sports betting.
Brazil’s finance minister Dario Durigan said the government had shut down 27 prediction market platforms nationwide. Kalshi and Polymarket were among those affected, according to the report.
Brazil’s Superior Electoral Court (TSE) approved a resolution on 17 September 2024 detailing the ban on betting on election outcomes, according to the article. The rule amended articles 1 and 6 of TSE Resolution 23.735/2024; the report says prediction-market platforms in Brazil are limited to economic indicators and cannot offer election or sports-outcome contracts.
Brazil’s Planning Ministry, Federal Revenue study centre and Civil Office reportedly disclosed that they had no impact study or estimate on the betting prohibition. The responses covered assessments of the policy and, in the Revenue centre’s case, documents produced after the measure was published.
Brazil's Planning Ministry, the Federal Revenue's tax and customs studies centre (CETAD) and the Civil Office of the Presidency did not present any study, technical note or impact estimate of the betting prohibition, according to the report. Their responses came to freedom-of-information requests that were filed on 20 September.
Brazilian President Luiz Inácio Lula da Silva was expected to decide or sign a provisional measure on betting on 23 September, after discussing it with ministers in Brasília. Media reports described two possible approaches: ending online casinos or banning betting more broadly; the final text and its terms were not stated.