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Brazil has split prediction-style trading into two clear lanes. Financial event contracts can stay, while contracts tied to sports, politics, games, culture, entertainment, or social outcomes now fall outside the permitted derivatives market.
Good to Know
B3 has introduced six Event Contracts in Brazil, giving professional traders a regulated way to trade short-term outcomes linked to financial markets. The contracts track spot and mini futures activity across the Ibovespa index, the Brazilian real, and bitcoin.
The format looks familiar. Kalshi and Polymarket use a similar mechanical setup in prediction markets, although B3 has built its product inside the regulated securities framework of Brazil. The Comissão de Valores Mobiliários approved the contracts, and only qualified professional investors can access them.
Timing gives the launch extra weight. On April 24, the Conselho Monetário Nacional published Resolution CMN nº 5,298, which blocks derivatives based on real sports events, online games, politics, elections, social topics, cultural events, and entertainment. Financial and economic variables remain allowed. The rule takes effect on May 4, with the CVM handling enforcement and extra regulation.
Government officials also acted against offshore platforms. Finance Minister Dario Durigan and Civil House Minister Miriam Belchior said ANATEL had already blocked 28 unauthorized prediction market platforms. Régis Dudena, head of the Secretariat of Prizes and Bets, said more blocks would follow against platforms outside the allowed scope.
Licensed Brazilian betting operators welcomed the rule. The Instituto Brasileiro de Jogo Responsável said the measure helps prevent “regulatory arbitrage” by foreign platforms trying to operate as financial products instead of licensed gambling operators.
B3 already sits at the center of the Brazil financial market. Created in 2017 through the merger of BM&FBovespa and Cetip, the exchange runs the largest financial market infrastructure in Latin America. It also added Bitcoin futures in April 2024, alongside products tied to equities, currencies, commodities, and interest rates.
Luiz Masagão, Executive Vice President of Products and Clients at B3, said the contracts fit a wider plan to update the derivatives market in Brazil. B3 has also discussed products linked to central bank decisions in other countries.
The exchange has more digital asset plans as well. Bloomberg reported earlier in April that B3 aims to launch a tokenization platform and stablecoin before the end of the year.
Kalshi entered Brazil in January through a partnership with XP International, but Brazil has now tightened access for foreign platforms. With Polymarket, Kalshi, and 26 other platforms blocked at network level, B3 enters a cleaner domestic field for regulated financial event contracts.