Brazil blocks Kalshi, Polymarket in sweeping ban citing investor protections

Brazil's finance ministry banned 28 betting platforms including prediction markets Kalshi and Polymarket, citing investor protection concerns. The crackdown targets unregulated gambling services gaining traction among Brazilian users. While not directly targeting crypto, the move signals stricter regulatory scrutiny across digital finance sectors globally, potentially influencing India's own regulatory approach toward decentralized prediction markets and crypto derivatives.