Betting platforms in Brazil asked the Secretariat of Prizes and Bets to block prediction-market companies including Polymarket and Kalshi. They argued that the services operate as gaming platforms without local licences; the request was made at a meeting on 27 February.
A possible access block could affect prediction-market operators and the Brazilian betting sector’s regulatory position.
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Brazilian first lady Janja Lula da Silva urged people to block online betting platforms in a video posted on 10 June, while defending the government’s regulation of fixed-odds betting. She blamed previous governments for authorising the activity and cited current measures including taxation, operator rules and a national self-exclusion platform.
Brazil’s regulated fixed-odds betting platforms began blocking new registrations and bets from Nuevo Desenrola Brasil beneficiaries on 15 May. Operators must check users against the SPA-MF database, cancel open bets for identified participants and return remaining account funds under the stated procedures; the 12-month restriction could change as the provisional measure proceeds through Congress.
A civil court in Brazil’s Federal District ordered Spribe to prevent unauthorised betting platforms in Brazil from offering Aviator, according to the report. The company has 10 days to comply and faces a daily BRL 100,000 penalty for non-compliance; the ruling does not require removal of the game from authorised platforms. The MPDFT’s separate civil action seeks BRL 110 million in collective moral damages.
Prediction-market platforms including Kalshi and Polymarket face restrictions in Brazil, where the activity is permitted only in the economic and financial sphere under securities regulator CVM oversight, the report said. Analysts at Bernstein estimate World Cup 2026 could add about US$3 billion in bets and take total platform trading volume to as much as US$10 billion. Sports and political contracts are barred outside regulated sports betting.
Brazilian companies are developing prediction-market platforms, but the sector has no specific legal framework, according to the report. It identifies Prévias, which is in a private beta and adapting to regulatory requirements, and blockchain-based Palpitada. The report says responsibility for oversight remains unclear among the CVM, Central Bank and Ministry of Finance.