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Brazil's SPA studies prediction markets as Kalshi partners with XP

Regulation

Brazil's Secretariat of Prizes and Bets said it is conducting preliminary internal studies on prediction markets and has not formally authorised any Brazilian companies to operate in the segment. The statement followed XP's announcement of a partnership with Kalshi to offer contracts linked to local economic indicators; the SPA said any further regulatory assessment would follow its technical analysis and involve relevant authorities, including the CVM.

The SPA's analysis and authorisation position affect whether prediction-market contracts can operate 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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