The National Monetary Council in Brazil has intervened to prohibit prediction market platforms from tying derivatives to sports, politics, or entertainment events, starting on 4 May.
The prediction market platforms in Brazil faced a setback as the National Monetary Council (CMN) intervened. The CMN, responsible for overseeing Brazil’s financial markets and monetary policy, decided that derivatives cannot be linked to sports, politics, or entertainment events. This ruling will be enforced starting on 4 May through Resolution No. […].
