PicPay has sought approval from Brazil’s Secretariat of Prizes and Betting to enter the fixed-odds sports betting market through subsidiary Nosso Time iGaming. The application was filed in May 2025 and remains under evaluation, with no approval timeline stated; PicPay confirmed the filing in its US SEC prospectus.
The pending application leaves PicPay’s entry into Brazil’s regulated betting market dependent on SPA approval.
| Date | Company | Amount | Story | Appeal status |
|---|---|---|---|---|
| Kalshi | Not stated | Kalshi explores potential Brazil prediction-market entry in 2026 | Not stated | |
| Not named | Not stated | Brazil’s SPA issues 67 initial betting authorisations for regulated market | Not stated | |
| Trisigma, GLI | Not stated | Brazil’s SPA revokes Trisigma’s betting certification authorisation | Not stated | |
| Caixa Econômica Federal, Caixa Loterias | Not stated | TQJ chief argues Caixa Bet reflects global public-lottery trend | Not stated | |
| Digiplus Brazil Interactive | Not stated | Brazil’s SPA authorises Digiplus to remove Gameplus betting brand | Not stated |
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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.
Supreme Federal Court minister Luiz Fux said at a public hearing in Brazil that he believed betting should be prohibited, while the court considers challenges to the proposed ban on fixed-odds betting. Club representatives defended the regulated market; Flamengo said the measure could put about R$430 million in annual income at risk. The court’s other members will decide on the measure’s constitutionality.
Brazil’s deputy prosecutor-general Luiz Augusto Santos Lima said at an STF public hearing on 3 November that the prosecutor-general had not yet reviewed the case challenging the provisional measure on fixed-odds betting. Justice Luiz Fux said the court could return the issue to the legislative and executive branches, and noted that the STF would need to consider eight constitutional actions if asked to rule.
Brazil's Procuradoria-Geral da República (PGR) did not state a position on the provisional measure that banned fixed-odds betting in the country. This came at the end of a public hearing convened by Justice Luiz Fux of the Supremo Tribunal Federal (STF) on 3 November. Deputy prosecutor-general Luiz Augusto Santos Lima said the prosecutor-general had not yet reviewed the case challenging the measure.
Brazil’s Provisional Measure 1.394/2026 prohibits fixed-odds betting and related advertising, marketing and sponsorship, according to an opinion article. It requires advertising and sponsorship materials to be removed within ten days of publication and operators’ existing authorisations to end after 30 days. The article says the changes raise questions about existing commercial contracts.
Brazil's Provisional Measure 1.394 of 25 September 2026 prohibits fixed-odds betting in the country, according to an opinion article. The article was written by Marcos Paulo de Castro Pereira, a lawyer at Ciscato Advogados Associados.
Amapá’s state government suspended its lottery-services tender on 26 October, ahead of the session scheduled for 27 October. The state said it must revise the tender terms to comply with Provisional Measure 1.394/2026, which prohibits fixed-odds betting in Brazil; no new date has been set.
The Amapá state government has suspended its tender for the concession of state lottery services, which had been scheduled for 27 October, according to a suspension notice. The decision was taken to bring the tender terms into line with Provisional Measure 1.394/2026, which prohibits fixed-odds betting in Brazil. No new date has been set for the auction.