Prediction-market platform Kalshi said last week that it would attempt to reverse the decision of Brazil’s Ministry of Finance to block its operations in the country.
Speaking to Bloomberg Línea before her opening appearance at Web Summit Rio 2026 on 8 June, Kalshi co-founder Luana Lopes Lara argued that “prohibition is the worst of worlds for a government: you lose tax revenue, you have no consumer protection and you lose the trail of the money. It is better to work with companies so they grow inside the country.”
She rejected the comparison with sportsbooks on the structural ground that the platform is an exchange: “Kalshi does not make money when people lose — that is a very big difference.”
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.
The following month Brazil’s National Monetary Council (CMN) approved Resolution 5,298 banning non-financial bets on prediction-market platforms. The rule took 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 at the time 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) was given complementary regulatory and supervisory powers over compliance.
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Prediction-market platform Kalshi said last week that it would attempt to reverse the decision of Brazil’s Ministry of Finance to block its operations in the country. Speaking to Bloomberg Línea before her opening appearance at Web Summit Rio 2026 on 8 June, Kalshi co-founder Luana Lopes Lara argued that “prohibition is the worst of worlds…
The post Kalshi opens negotiations to reverse its block on prediction-market platforms in Brazil appeared first on G3 Newswire.