Kalshi co-founder seeks to overturn Brazil prediction-market ban
Kalshi co-founder Luana Lopes Lara said the company would seek dialogue with Brazilian authorities to challenge restrictions on its prediction-market products. On 24 April, Brazil’s National Monetary Council instructed Banco Central do Brasil to prohibit products linking financial derivatives to sporting, political or entertainment outcomes; Lara argued that authorities had misunderstood Kalshi’s business model.
The restrictions affect whether Kalshi can offer event contracts in Brazil and how those products are classified.