Brazil Bans Prediction Markets, Anatel Blocks 28 Platforms
(AsiaGameHub) – Brazil has officially declared prediction markets unlawful, closing off access for operators like Polymarket in Latin America’s largest market. The announcement followed the National Monetary Council’s approval of a resolution that restricts which products qualify as derivatives.
Good to Know
Brazil stated that prediction markets cannot operate under derivatives regulations.
Anatel has already blocked 28 platforms offering event contracts.
The government notes that Law 14.790 only covers fixed odds betting and online games.
Brazil Affirms Event Contracts Lie Outside Legal Betting Guidelines
Brazilian Finance Minister Dario Durigan and Miriam Belchior, Chief of Staff for the Presidency, announced the decision on Friday. The National Monetary Council’s resolution specifies that sports events, virtual gaming events, political outcomes, elections, social events, cultural activities, entertainment events, and similar results cannot serve as underlying assets for derivat…









