Brazil’s National Monetary Council (CMN) approved Resolution 5,298 on the evening of 23 April 2026, banning non-financial bets on prediction-market platforms. The rule takes effect on 4 May 2026 and applies to contracts on sports results, elections and political themes, reality shows and entertainment, and social or cultural events.
The Council framed the move as closing a regulatory gap. According to Agência Brasil, the CMN’s view is that bets on non-financial events function as games of chance rather than investments, and that they had been competing irregularly with licensed sports-betting operators.
Brazilian press reporting on the resolution has named Polymarket and Kalshi as the leading prediction-market platforms affected. The CMN rule applies to all platforms offering this type of contract to Brazilian users, including foreign platforms targeting Brazilian residents.
The Securities and Exchange Commission (CVM) has been given complementary regulatory and supervisory powers over compliance. The CVM continues to oversee derivatives tied to economic variables such as interest rates, inflation, exchange rates and commodity prices, which remain unaffected.
The Novo party filed a Legislative Decree Project (PDL) in the Chamber of Deputies on 24 April 2026, led by deputy Gilson Marques. The party argues that the CMN exceeded its remit by imposing broad restrictions without clear legal basis, and that the rule limits public access to information generated by prediction markets. A PDL is the parliamentary instrument used in Brazil to overturn an executive act.
The decision lands amid a wider debate in Brasília over how far the licensed sports-betting market should be allowed to expand. The Prizes and Bets Secretariat at the Finance Ministry continues to license bookmakers under the framework set out in Law 14,790 of 2023.
In March Brazil’s Ministry of Finance’s Prize and Betting Secretariat (SPA) issued an official statement about prediction markets. The ministry said it was monitoring the issue from a technical standpoint and conducting preliminary studies of the sector. The SPA highlighted the fact that no Brazilian operators were authorized in the market.
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Brazil’s National Monetary Council (CMN) approved Resolution 5,298 on the evening of 23 April 2026, banning non-financial bets on prediction-market platforms. The rule takes effect on 4 May 2026 and applies to contracts on sports results, elections and political themes, reality shows and entertainment, and social or cultural events. The Council framed the move as…
The post Brazil bans non-financial bets on prediction market platforms appeared first on G3 Newswire.