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🇧🇷 BRAZIL BLOCKS KALSHI & POLYMARKET IN SWEEPING CRACKDOWN
Brazil's Finance Ministry has blocked 27 prediction market platforms, including Kalshi and Polymarket, with telecom regulator Anatel taking sites offline.
Key Reasons:
➡️ Platforms violated Brazilian betting laws
➡️ Operated without regulatory oversight
➡️ Government targeting rising gambling addiction & household debt
Why It Matters:
➡️ Kalshi's LATAM expansion plan killed
➡️ Election betting blocked before October Lula vs Bolsonaro race
➡️ Polymarket now restricted in 30+ countries
➡️ Wisconsin just sued Kalshi, Polymarket, Robinhood, Coinbase & CryptoCom
Global pressure on prediction markets is intensifying. Regulators are drawing a hard line between derivatives and gambling.