Brazil has blocked prediction market and betting platforms including Kalshi and Polymarket. The Block reported on Thursday that Brazilian authorities concluded the platforms did not comply with local derivatives trading rules and could undermine investor protection and market integrity.

Brazil's central bank bans the offering and trading of derivatives contracts that use real sports matches, online virtual games, and real or virtual events such as politics, elections, society, culture and entertainment as underlying assets.

Finance Minister Dario Durigan (다리우 두리간) said in an interview with local media that about 28 platforms had been blocked. He described the move as a government response to protect Brazilians' savings amid the spread of online gambling.

Polymarket is already blocked in more than 30 countries. Portugal imposed restrictions in January, and France, Belgium, Australia, Britain, Italy, Poland and Singapore had previously taken similar steps. Some countries restricted only specific markets instead of imposing a full ban. Taiwan banned only political betting.

In the United States, the regulatory trajectory is developing differently. Kalshi sued over a U.S. Commodity Futures Trading Commission move that blocked its 2024 election markets and won, opening the way for platforms such as Polymarket to re-enter the U.S. market.