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Brazil launches campaign against prediction markets after restrictions

Regulation

Brazil’s federal government published a campaign against prediction markets on 28 April, saying the activity is prohibited in the country. The campaign followed Anatel’s announcement of platform blocks and a CMN restriction on derivatives contracts tied to sports, online games and several other event categories.

The campaign reinforces the government’s position on prediction markets as platforms face blocks and restrictions in Brazil.

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Regulation

Thirty-seven states back New York in Kalshi sports-betting case

Thirty-seven US states, the District of Columbia and the Northern Mariana Islands submitted a brief supporting New York against Kalshi to the Second Circuit Court of Appeals. Registered on 6 November, the brief argues that federal derivatives law should not prevent states from enforcing sports-betting and consumer-protection rules; a separate group of 38 states filed a Wisconsin brief concerning Polymarket, Coinbase, Robinhood and Crypto.com.

A coalition of 37 US states, the District of Columbia and the Northern Mariana Islands has filed a brief supporting New York in its case against Kalshi at the Second Circuit Court of Appeals. The brief, filed on 6 November, argues that federal derivatives law should not prevent states from applying sports-betting and consumer-protection rules.

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