Brazilian lawmaker proposes statutory ban on non-financial prediction markets
Brazilian federal deputy Jonas Donizette introduced a bill on 29 July to make statutory the Monetary Policy Council’s restriction on prediction markets operating in sports and other non-financial events. The existing resolution limits their activity to matters such as interest rates and exchange rates; the proposal seeks to give that restriction greater stability.
Prediction-market operators could face a statutory restriction on offering contracts tied to sports and other non-financial events.