PANews April 25 news, according to Cointelegraph, Brazilian authorities have taken action to ban 27 prediction market platforms, including Kalshi and Polymarket. According to the new regulations, contracts related to sports, politics, entertainment, or social activities are prohibited, as authorities believe these contracts are closer to gambling rather than financial investment. Only contracts linked to economic indicators such as inflation, interest rates, exchange rates, or commodity prices are allowed and are subject to financial market regulation. This crackdown stems from Resolution No. 5.298 issued by the Brazilian National Monetary Council (CMN) on Friday, which will take effect in early May and significantly restrict the services offered by prediction market platforms.

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