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Brazil’s SPA says no companies are authorised for prediction markets

Regulation

Brazil’s Secretariat of Prizes and Bets said no companies are currently authorised to offer prediction markets, while preliminary studies continue. Local betting firms in São Paulo state have reportedly asked authorities to ban platforms such as Kalshi and Polymarket; Kalshi entered Brazil through a partnership with XP International, with Clear serving as its local vehicle.

The SPA’s position leaves operators and platforms without a stated authorisation framework for prediction markets in Brazil.

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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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