Brazil has blocked access to top prediction market platforms, directly affecting 29-year-old billionaire Luana Lopes Lara’s efforts to launch Kalshi in her home country.
Authorities cite illegal gambling concerns as the reason for the ban, disrupting Kalshi’s entry into the Brazilian market and impacting other similar platforms.
Lopes Lara, co-founder of Kalshi, has expressed strong interest in expanding to Brazil, but the regulatory move now complicates growth plans for her company and the broader prediction market industry.
How did a U.S. firm bypass Brazil's national ban on prediction markets?
As Kalshi partners with banks, how do anonymous crypto rivals threaten its model?
Is a $22 billion 'event contract' platform just a new name for gambling?
Why are U.S. states battling federal regulators to shut down these markets?
With its top regulator understaffed, who polices billion-dollar trades on real-world events?
Will prediction markets become the next standard asset class in global finance?