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Kalshi co-founder says Brazil’s restriction reflects misunderstanding of prediction markets

Regulation

Kalshi co-founder Luana Lopes Lara said the company intends to engage with Brazilian authorities after the Finance Ministry ordered platforms such as Kalshi blocked at the end of April. She said the company wants to operate in Brazil and argued that its user-to-user contracts differ from bookmaker betting; Kalshi charges transaction fees of about 1%, she said.

The ministry’s restriction and Kalshi’s planned engagement leave the company’s access to Brazil’s market unresolved.

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Regulation

CFTC gives prediction markets 30 days to justify or remove geographic restrictions

The US CFTC gave markets under its supervision 30 days from its 5 November announcement to remove domestic geographic restrictions or explain why they cannot do so. The direction does not legalise all prediction contracts or override court orders; on 4 November, a federal judge ordered Kalshi to stop offering sports contracts in territories of the Indigenous communities that brought the case.

The US CFTC has given markets under its supervision 30 days to remove domestic geographic restrictions that conflict with impartial access rules or explain why they cannot do so. The decision was announced on 5 November.

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