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Brazil’s SPA monitors prediction markets after Kalshi entry

Regulation

Brazil’s Secretariat of Prizes and Bets said it is monitoring prediction markets after Kalshi announced an agreement with XP International to enter Brazil. The SPA said preliminary studies are under way and that it has not authorised Brazilian companies to operate in the segment. It will assess the issue after technical analyses, in coordination with bodies including the CVM.

The SPA’s review could determine how prediction-market operators are treated under Brazil’s regulatory framework.

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Regulation

CFTC orders exchanges to end US geofencing within 30 days

The Commodity Futures Trading Commission ordered designated contract markets to end US geofencing that conflicts with impartial-access requirements within 30 days, or explain why they cannot comply. The order puts exchanges offering sports-event contracts at odds with court orders restricting Kalshi in several states and on tribal lands. Chairman Michael S. Selig said derivatives markets must operate nationally.

Within 30 days, designated contract markets must end geofencing restrictions in the U.S. that violate “impartial access requirements,” or give reasons they cannot comply, the CFTC has ordered. CFTC Chairman Michael S. Selig said in a statement that derivatives markets "must operate on a uniform basis at a national scale" to serve the purposes of the Commodity Exchange Act.

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