Are prediction markets legal in Brazil?
Brazil's Ministry of Finance (SPA) announced blocks of 27 prediction-market platforms, including Polymarket and Kalshi, on 24 April 2026 under the fixed-odds betting law (Lei 14.790/2023). CMN Resolution 5,298/2026, in force since 4 May 2026, separately restricts event-linked derivatives. Manifold (play money) remains accessible.
- Regulator
- Secretaria de Prêmios e Apostas (SPA/MF)
- Recommended platforms
- Polymarket, Manifold
Detailed overview
Brazil enacted comprehensive sports-betting regulation in 2023–2024 (Lei 14.790/2023), creating the Secretaria de Prêmios e Apostas under the Ministry of Finance. The law focuses on fixed-odds operators; peer-to-peer prediction exchanges like Polymarket operate in a gray zone.
Frequently asked questions
Is Polymarket legal in Brazil?
Polymarket is accessible from Brazil and operates in a regulatory gray area — Brazil's 2024 betting law covers fixed-odds operators but not peer-to-peer crypto exchanges.
Can Brazilians use Kalshi?
No. Kalshi requires US residency.
This page is editorial information, not legal advice. Regulations change frequently. Consult a qualified lawyer in your jurisdiction before trading.