PANews reported on April 25th, citing Cointelegraph, that Brazilian authorities have taken action to ban 27 prediction market platforms, including Kalshi and Polymarket. Under the new regulations, contracts related to sports, politics, entertainment, or social events are prohibited, as authorities consider these contracts closer to gambling than financial investment. Only contracts linked to economic indicators such as inflation, interest rates, exchange rates, or commodity prices are permitted and 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 restricts the scope of services offered by prediction market platforms.