Brazil blocks 27 prediction platforms including Polymarket and Kalshi in NMC crackdown

Brazil has blocked 27 prediction market platforms, including Polymarket and Kalshi, after a National Monetary Council (NMC) resolution banned derivatives tied to prediction markets. The action makes Brazil the second country in Latin America, after Argentina, to prohibit the activity. Authorities cited concerns that such platforms constitute unregulated activity. The sweeping crackdown ranks among the broadest national actions against event-contract platforms globally, taking out multiple operators simultaneously rather than targeting individual firms through case-by-case enforcement. The NMC resolution effectively halts all derivatives-based prediction market operations in the country with immediate effect.