Brazil restricts Kalshi prediction markets as company seeks reversal
Brazil’s Finance Ministry restricted Kalshi’s prediction markets at the end of April, and the company is seeking to reverse the measure, according to co-founder Luana Lopes Lara. The ministry classified platforms such as Kalshi as betting operators that do not meet requirements including a R$30 million licence fee; Lara said the company had begun talks with Brazilian authorities.
The restriction leaves Kalshi seeking a route to operate legally in Brazil under the ministry’s stated requirements.