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Licensed betting firms ask Brazil’s SPA to block Polymarket and Kalshi

Regulation

Licensed betting companies asked Brazil’s Secretariat of Prizes and Betting (SPA) on 27 February to block Polymarket and Kalshi, arguing that the platforms compete unfairly. The Finance Ministry confirmed three meetings with betting-sector representatives but said it had received no formal request to block the platforms; the report reports no official position on their status.

The SPA’s position could determine whether prediction-market platforms can operate alongside Brazil’s licensed betting firms.

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Regulation

CFTC orders exchanges to end US geofencing within 30 days

The Commodity Futures Trading Commission ordered designated contract markets to end US geofencing that conflicts with impartial-access requirements within 30 days, or explain why they cannot comply. The order puts exchanges offering sports-event contracts at odds with court orders restricting Kalshi in several states and on tribal lands. Chairman Michael S. Selig said derivatives markets must operate nationally.

Within 30 days, designated contract markets must end geofencing restrictions in the U.S. that violate “impartial access requirements,” or give reasons they cannot comply, the CFTC has ordered. CFTC Chairman Michael S. Selig said in a statement that derivatives markets "must operate on a uniform basis at a national scale" to serve the purposes of the Commodity Exchange Act.

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