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Novo lawmakers propose suspending CMN restrictions on prediction markets in Brazil

Regulation

Three Novo lawmakers filed a legislative decree proposal on 24 April to suspend a CMN resolution restricting prediction-market operations in Brazil. The resolution, approved on 23 April, is due to take effect on 4 May; the lawmakers argue that the CMN exceeded its legal authority. The proposal is under urgent consideration and would require approval by both houses of Congress to suspend the resolution.

The proposal could change the legal basis for restrictions on prediction-market platforms in Brazil.

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Regulation

Brazilian government prohibits fixed-odds betting under MP 1,394/2026

Brazil’s MP 1,394/2026 prohibits fixed-odds betting, according to a report discussing the measure and its effects on licensed operators. The report says 85 operators paid R$30 million each for five-year authorisations, totalling R$2.55 billion, and that the government will not refund fees for unused periods. Finance Minister Dario Durigan said investors would have predictability in Brazil.

Brazil's government has prohibited fixed-odds betting through MP 1,394/2026, according to the report. The measure ends authorisations that had been active for 22 months. The government will not refund the authorisation fees or the portion covering the remaining period, the report says.

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