Kalshi's taker fee is 0.07 × contracts × price × (1 − price), times the series multiplier (1 by default) and rounded up to the next cent, so it peaks at 1.75¢ per contract at a 50¢ price. Resting (maker) orders are free on standard series and pay a fee only on the series Kalshi lists with maker fees.
Country-by-country rules, regulator actions and sources for Polymarket and Kalshi.
This is not legal advice, and we don't say whether trading is legal for you in Brazil. We report what each platform's published rules say about Brazil and the public regulator, court and police actions we could source, each with a date. Those rules change fast, so check the platform's current terms and the law in Brazil before doing anything. ‘Not listed’ only means a platform's own list doesn't name Brazil; it doesn't mean trading there is permitted.
Status under each platform's own published rules, and the most recent public action we could source, as of 2026-09-24.
Last public action: 2026-09-23 · Advocacia-Geral da União (AGU) and Ministério da Fazenda / Secretaria de Prêmios e Apostas · Public warning or intervention (Polymarket)
Source: Secondary report
Dated public actions on record: 2
This page keeps two things apart for Brazil: what each platform's own published rules say, and what regulators, courts and police in Brazil have publicly done. A platform's list is its own policy and a government order is the government's, so a country can be on one and not the other.
The status labels are the same as in the main table. Restricted means the platform's own list blocks trading from Brazil. Close-only means existing users there can close positions but can't open new ones. Some regions means only named regions are restricted. Separate product means residents use a different, separately regulated product, as US residents do with the Polymarket US app. Not listed means the platform's published list doesn't name Brazil; that is not the same as permitted, and a regulator may still block the site.
Polymarket publishes two official lists that don't fully match: its Help Center page (updated August 14, 2026) and its developer docs (undated). We follow the dated Help Center list and say where the developer docs differ. Kalshi statuses follow its Member Agreement as fetched on September 24, 2026; the agreement itself is undated.
Each action shows the authority as it names itself, what it did, the platform it concerns and the date: the date of the action where it was published, otherwise the date it was first reported. Every entry is marked Official, Platform document or Secondary report. Where only secondary reporting exists, we say ‘reported by’ and name the outlet; where official sources conflict, we report both.
‘No public action found’ means our searches found none, not that none exists. Nothing on this page says whether trading is legal for you: for that, check the platforms' current terms and the law in Brazil.
Polymarket's Help Center page on geographic restrictions (updated August 14, 2026) lists Brazil (BR) in its table of 39 countries it calls completely restricted, with no Brazil-specific wording of the kind it gives Germany, Italy or Ontario. Polymarket's developer geoblock docs (undated) instead list Brazil as close-only on both the website and the API, meaning existing positions can be closed but new ones can't be opened. We follow the dated Help Center list, so Brazil's status here is Restricted; the developer docs describe the narrower mode.
In practice the platform's own block and the government's block overlap. The government block is applied by internet providers on notification from Anatel (see below), and its coverage has been partial: on September 11, 2026 BNLData and Brasil em Folhas reported that polymarket.com was still reachable for some Brazilians because smaller regional providers had not applied the block. The Ministry of Finance said that occasional access by some users ‘does not mean authorisation’ and that the Secretariat of Prizes and Bets monitors the effectiveness of the measures continuously. Polymarket's Help Center says that using a VPN to get around its restrictions violates its Terms of Use.
App stores: Law 14,790/2023, art. 17 §4, lets the Ministry of Finance require app stores to remove apps that offer unlicensed fixed-odds betting. We found no public report that this was applied to either platform's app. Polymarket told Agência Pública (September 3, 2026) that it has no team in Brazil, only occasional service providers, and did not respond to Bloomberg Línea's request for comment on the day of the block (April 24, 2026).
Kalshi's Member Agreement, section VI (Restricted Jurisdictions), as fetched on September 24, 2026, does not list Brazil, and Brazil was not in Kalshi's Exchange Notices of October 23 and November 4, 2025 either. Under Kalshi's own rules Brazil is therefore Not listed. That is a platform list, not a legal status: Brazil's federal government has ordered Kalshi blocked (see below), and among the countries PolyKal tracks, Brazil and Spain are the only two where a government has ordered Kalshi blocked while Kalshi's own list omits the country. We found no Kalshi notice or blog post naming Brazil.
Kalshi's public response to the block has been conciliatory. Its co-founder Luana Lopes Lara, who is Brazilian, said on June 9, 2026 (reported by iGaming Brazil) that Kalshi would work with the government to explain what it does, called the block ‘an educational gap’, and said the company's plans for Brazil continue; Bloomberg Línea quoted her saying that ‘plan A is to work constructively with the government’. Kalshi said after the announcement that it was analysing the decision. We found no court challenge by either platform.
Before the block, on March 9, 2026, InfoMoney and Forbes Brasil reported a partnership under which XP International (through its Clear brand and offshore accounts) gave Brazilian clients access to Kalshi contracts on economic events such as inflation and interest-rate decisions, expressly excluding sports and politics. InvestNews reported on April 27, 2026 that contracts on economic indicators fall within the exception in CMN Resolution 5.298/2026. We could not confirm whether the XP offering continued after the resolution took effect on May 4, 2026.
Several federal bodies are involved. The Secretariat of Prizes and Bets of the Ministry of Finance (Secretaria de Prêmios e Apostas, SPA/MF) regulates fixed-odds betting under Law 14,790/2023. The National Monetary Council (Conselho Monetário Nacional, CMN), with the Central Bank (Banco Central do Brasil, BCB) and the Securities Commission (Comissão de Valores Mobiliários, CVM), regulates derivatives under Laws 4,595/1964 and 6,385/1976. Anatel, the telecoms agency, carries out site blocks: Law 14,790/2023, art. 17 §3, requires internet connection and application providers to block sites offering unlicensed fixed-odds betting once notified by the Ministry of Finance. The Superior Electoral Court (TSE) oversees election rules.
April 23, 2026 (official): Technical Note SEI no. 2958/2026/MF of the Secretariat of Prizes and Bets concluded that Polymarket and Kalshi operate unlicensed fixed-odds betting in Brazil, citing Law 14,790/2023 (arts. 2, 3, 8, 17, 19, 20 and 26), Law 13,756/2018 art. 29, the anti-money-laundering Law 9,613/1998, Law 13,260/2016, Ordinances SPA/MF 1,231/2024 and 1,143/2024 and TSE Resolution 23,735/2024, and recommended blocking Brazilian access. This followed a request made on March 9, 2026 by licensed betting operators through the IBJR trade body to block both platforms, reported by Poder360; the Ministry confirmed three meetings and said no company was authorised for this segment.
April 24, 2026 (official, with secondary reports): the federal government (Ministry of Finance, Civil House, Central Bank and CVM) announced the blocking of 27 prediction platforms (some reports say 28), including Polymarket and Kalshi, and published CMN Resolution 5.298 of April 24, 2026. Finance Minister Dario Durigan said the platforms operate ‘in non-compliance with the law’ (reported by Bloomberg Línea and Yogonet Brasil). The resolution prohibits offering or trading derivatives whose underlying is a real sporting event, a virtual online-game event, or a real or virtual political, electoral, social, cultural or entertainment event without an economic-financial basis; it applies to contracts offered in Brazil, including contracts traded abroad and distributed directly or indirectly in Brazil, and tasks the CVM with complementary rules and supervision. Derivatives on price indices, interest and exchange rates, credit metrics, commodities, listed securities and other verifiable economic variables remain allowed. The resolution took effect on May 4, 2026.
Block type: an ISP and DNS block, applied after Anatel notifies internet providers; Finsiders reported on April 24, 2026 that Anatel notifies roughly 19,000–20,000 providers through the same channel it has used for illegal betting domains since 2024. Every action targets the platforms, internet providers, app stores and advertisers, not users. We found no court challenge to the block and no lifted or reversed action as of September 26, 2026.
September 23, 2026 (secondary): the Attorney General's Office (Advocacia-Geral da União, AGU) and the Ministry of Finance obtained the removal by Meta of the Brazilian Instagram profile @polymarketportugues (formerly @polymarketbrasil), which promoted markets on the presidential election of October 4, 2026; the Secretariat of Prizes and Bets treated the advertising as an administrative infraction under Law 14,790/2023, art. 17. Reported by Yogonet Brasil on September 24, 2026, following an investigation by Núcleo Jornalismo published on September 23, 2026.
Elections: Agência Pública (September 3, 2026, updated September 24, 2026) cites TSE Resolution 23,735/2024, art. 6 §7, as barring digital platforms from offering products or advertising tied to candidates or election results. The TSE declined to comment on specific cases, and we found no TSE order naming Polymarket or Kalshi.
The entries below are rendered from the same dated data as the main country table, newest first. Each row shows the date, the authority as it names itself, the type of action, the platform it concerns and the source with its type.
| Date | Authority | Action | Platform | Source |
|---|---|---|---|---|
| 2026-09-23 | Advocacia-Geral da União (AGU) and Ministério da Fazenda / Secretaria de Prêmios e Apostas | Public warning or intervention | Polymarket | Source Secondary report Checked 2026-09-26 |
| 2026-04-24 | Federal Government of Brazil (Ministry of Finance, Secretariat of Prizes and Bets) and National Monetary Council, Resolution 5.298/2026 | Blocking order | Both platforms | Source Official Checked 2026-09-24 |
Public regulator, court and police actions concerning Polymarket and Kalshi in Brazil, as of 2026-09-24. Not legal advice.
This section reports what the law and the authorities in Brazil have said about people who take part in these markets, and any enforcement against users that has been made public. It describes; it doesn't advise.
Law 14,790/2023 contains no article that penalises a bettor for using an unauthorised operator: art. 21 is directed at payment institutions and art. 39 lists infractions by operators. The 2026 actions are directed at the platforms, internet providers, app stores and advertisers. We found no prosecution or administrative penalty against a Brazilian user of either platform.
The government framed the block as consumer protection: the Consumer Secretary, Ricardo Morishita, described the risk as ‘playing, winning and not getting paid’ (reported by Finsiders, April 24, 2026). CMN Resolution 5.298 does not say how contracts that already existed on May 4, 2026 are to be treated (reported by Fala Regional, April 25, 2026), and we found no official guidance on existing positions. We also found no statement from the federal tax office (Receita Federal) specific to prediction-market winnings.
The 2026 presidential election drove most of the attention. Agência Pública reported that Polymarket's market on the Brazilian presidency had traded about US$141.7 million by September 2, 2026 (US$147 million by September 10), that 656 Instagram posts between May and August 2026 and more than 15 influencers promoted Polymarket without advertising disclosure, and that Bruno Richards of Not Journal was described as Polymarket's ‘country manager’. Aos Fatos reported that Flávio Bolsonaro and allies shared Polymarket odds as if they were opinion polls. Polymarket told Agência Pública that it does not support candidates, parties or ideologies.
Payments: licensed Brazilian betting sites must take payments by PIX only, with cards and crypto prohibited for licensed operators (reported by Clube FM, April 27, 2026); neither Polymarket nor Kalshi offers PIX. We found no Central Bank or Ministry of Finance order to payment institutions naming either platform.
PolyKal is a read-only research site, and it does not restrict access by country, including from Brazil. Its public pages, including prices on both platforms, order-book depth, after-fee cost comparisons, the fee calculator, and large-trade and whale data, need no account. You don't need a VPN to use them.
Viewing public market data is not trading. PolyKal doesn't place orders, hold funds or give access to trading on either platform, and a restriction on Polymarket or Kalshi in Brazil still applies to trading there. Polymarket's help center says that using a VPN to get around its restrictions violates its Terms of Use, and Kalshi's Member Agreement excludes people in its restricted jurisdictions; getting around a block can also break local law. PolyKal doesn't help anyone get around them.
Start with the compare page, the fee calculator or large trades, or read how Polymarket works and how Kalshi works.
Brazil is one of 27 countries, plus the United States, that PolyKal tracks. The full availability table shows every country's status under each platform's rules and its regulator actions side by side, with the same dates and sources as this page, and its change log lists every edit we make.
Every entry is re-checked at least once a quarter, and sooner when a platform or regulator announces a change. The next scheduled full re-check is shown in the sidebar.
Twice over. Polymarket's own Help Center (updated August 14, 2026) lists Brazil as blocked, and Brazil's federal government ordered internet providers to block Polymarket on April 24, 2026, under Law 14,790/2023 and CMN Resolution 5.298/2026. Press reports on September 11, 2026 said the site was still reachable through some smaller providers; the Ministry of Finance said that occasional access does not mean authorisation.
Kalshi's own Member Agreement does not list Brazil as a restricted jurisdiction (checked September 24, 2026), but the Brazilian government's block order of April 24, 2026 covers Kalshi as well as Polymarket, and CMN Resolution 5.298/2026 prohibits derivatives on sports, political and similar events offered in Brazil. Kalshi's co-founder has said the company wants to work with the government; we found no court challenge.
The Secretariat of Prizes and Bets concluded in Technical Note 2958/2026 (April 23, 2026) that both platforms offer fixed-odds betting without the licence that Law 14,790/2023 requires, and the National Monetary Council decided in Resolution 5.298/2026 that derivatives on sporting, political, electoral and entertainment events without an economic-financial basis may not be offered in Brazil. The government presented the block as consumer protection.
We can't tell you whether it is legal for you, and this page is not legal advice. What we can report: Law 14,790/2023 penalises unlicensed operators, payment institutions and advertisers, and contains no article penalising bettors; the 2026 block targets the platforms and internet providers; and we found no enforcement against an individual user. Check the current law and the platforms' terms before doing anything.
On PolyKal, yes: it is a read-only research site that shows prices, order-book depth and large trades on both platforms without an account, and it does not restrict access by country. Viewing data is not trading; PolyKal does not place orders and does not help anyone get around a block.
No. Polymarket's help center says that using a VPN to get around its restrictions violates its Terms of Use, and Kalshi's Member Agreement excludes people in its restricted jurisdictions. Getting around a block can also break local law. You don't need a VPN to research these markets: PolyKal's prices, order books and fee calculator don't require one.
We re-check every country page at least once a quarter, and sooner when a platform or regulator announces a change; each rule and action on the page shows its own date and source. If you spot something out of date for Brazil, email [email protected] with a link to the new rule or order.
Every statement on this page rests on the sources below. Platform rules were checked against Polymarket's and Kalshi's own pages on September 24, 2026; regulator, court and police actions were checked against the sources listed on September 24–26, 2026. Each source is marked as official, a platform document or a secondary report. Where only secondary reporting was available, we cite it and say so; where official sources conflict, we report both. We re-verify this page quarterly.
Official: Technical Note SEI no. 2958/2026/MF, Secretariat of Prizes and Bets (PDF, gov.br) (April 23, 2026); Law 14,790/2023 (Planalto); CMN Resolution 5.298 of April 24, 2026 (PDF, mirrored by InternetLab).
Secondary, on the April 2026 block: Bloomberg Línea Brasil (April 24, 2026); Finsiders Brasil (April 24, 2026); Fala Regional (April 25, 2026); Yogonet Brasil, list of the 27 blocked platforms (April 27, 2026); Clube FM (April 27, 2026); Machado Meyer, law-firm note on Resolution 5.298 (April 27, 2026); Poder360, on the operators' request (March 9, 2026).
Secondary, on enforcement and later actions: BNLData (September 11, 2026); Brasil em Folhas (September 11, 2026); Yogonet Brasil, on the Instagram profile removal (September 24, 2026); Agência Pública (September 3, 2026, updated September 24, 2026); Aos Fatos (undated).
Secondary, on Kalshi and XP: iGaming Brazil (June 9, 2026); Bloomberg Línea Brasil, interview with Luana Lopes Lara (undated); InvestNews (April 27, 2026); InfoMoney (March 9, 2026); Forbes Brasil (March 2026).
Platform documents (all countries): Polymarket Help Center: Geographic restrictions (updated August 14, 2026), Polymarket developer docs: Geoblock (undated), Kalshi Member Agreement (undated; fetched September 24, 2026) and Kalshi Help Center: trading from outside the US (updated March 20, 2026).
PolyKal is an independent research tool. We are not affiliated with, endorsed by, or operated by Polymarket or Kalshi. We report each platform's published rules and public regulator, court and police actions in Brazil; we don't say whether trading is legal for you, and we don't help anyone get around a platform's restrictions. Last reviewed September 26, 2026. Not legal or financial advice.
Know of a newer rule, order or court decision for Brazil? Email [email protected] with a link to it.
Kalshi's taker fee is 0.07 × contracts × price × (1 − price), times the series multiplier (1 by default) and rounded up to the next cent, so it peaks at 1.75¢ per contract at a 50¢ price. Resting (maker) orders are free on standard series and pay a fee only on the series Kalshi lists with maker fees.
Country-by-country rules, regulator actions and sources for Polymarket and Kalshi.
This is not legal advice, and we don't say whether trading is legal for you in Brazil. We report what each platform's published rules say about Brazil and the public regulator, court and police actions we could source, each with a date. Those rules change fast, so check the platform's current terms and the law in Brazil before doing anything. ‘Not listed’ only means a platform's own list doesn't name Brazil; it doesn't mean trading there is permitted.
Status under each platform's own published rules, and the most recent public action we could source, as of 2026-09-24.
Last public action: 2026-09-23 · Advocacia-Geral da União (AGU) and Ministério da Fazenda / Secretaria de Prêmios e Apostas · Public warning or intervention (Polymarket)
Source: Secondary report
Dated public actions on record: 2
This page keeps two things apart for Brazil: what each platform's own published rules say, and what regulators, courts and police in Brazil have publicly done. A platform's list is its own policy and a government order is the government's, so a country can be on one and not the other.
The status labels are the same as in the main table. Restricted means the platform's own list blocks trading from Brazil. Close-only means existing users there can close positions but can't open new ones. Some regions means only named regions are restricted. Separate product means residents use a different, separately regulated product, as US residents do with the Polymarket US app. Not listed means the platform's published list doesn't name Brazil; that is not the same as permitted, and a regulator may still block the site.
Polymarket publishes two official lists that don't fully match: its Help Center page (updated August 14, 2026) and its developer docs (undated). We follow the dated Help Center list and say where the developer docs differ. Kalshi statuses follow its Member Agreement as fetched on September 24, 2026; the agreement itself is undated.
Each action shows the authority as it names itself, what it did, the platform it concerns and the date: the date of the action where it was published, otherwise the date it was first reported. Every entry is marked Official, Platform document or Secondary report. Where only secondary reporting exists, we say ‘reported by’ and name the outlet; where official sources conflict, we report both.
‘No public action found’ means our searches found none, not that none exists. Nothing on this page says whether trading is legal for you: for that, check the platforms' current terms and the law in Brazil.
Polymarket's Help Center page on geographic restrictions (updated August 14, 2026) lists Brazil (BR) in its table of 39 countries it calls completely restricted, with no Brazil-specific wording of the kind it gives Germany, Italy or Ontario. Polymarket's developer geoblock docs (undated) instead list Brazil as close-only on both the website and the API, meaning existing positions can be closed but new ones can't be opened. We follow the dated Help Center list, so Brazil's status here is Restricted; the developer docs describe the narrower mode.
In practice the platform's own block and the government's block overlap. The government block is applied by internet providers on notification from Anatel (see below), and its coverage has been partial: on September 11, 2026 BNLData and Brasil em Folhas reported that polymarket.com was still reachable for some Brazilians because smaller regional providers had not applied the block. The Ministry of Finance said that occasional access by some users ‘does not mean authorisation’ and that the Secretariat of Prizes and Bets monitors the effectiveness of the measures continuously. Polymarket's Help Center says that using a VPN to get around its restrictions violates its Terms of Use.
App stores: Law 14,790/2023, art. 17 §4, lets the Ministry of Finance require app stores to remove apps that offer unlicensed fixed-odds betting. We found no public report that this was applied to either platform's app. Polymarket told Agência Pública (September 3, 2026) that it has no team in Brazil, only occasional service providers, and did not respond to Bloomberg Línea's request for comment on the day of the block (April 24, 2026).
Kalshi's Member Agreement, section VI (Restricted Jurisdictions), as fetched on September 24, 2026, does not list Brazil, and Brazil was not in Kalshi's Exchange Notices of October 23 and November 4, 2025 either. Under Kalshi's own rules Brazil is therefore Not listed. That is a platform list, not a legal status: Brazil's federal government has ordered Kalshi blocked (see below), and among the countries PolyKal tracks, Brazil and Spain are the only two where a government has ordered Kalshi blocked while Kalshi's own list omits the country. We found no Kalshi notice or blog post naming Brazil.
Kalshi's public response to the block has been conciliatory. Its co-founder Luana Lopes Lara, who is Brazilian, said on June 9, 2026 (reported by iGaming Brazil) that Kalshi would work with the government to explain what it does, called the block ‘an educational gap’, and said the company's plans for Brazil continue; Bloomberg Línea quoted her saying that ‘plan A is to work constructively with the government’. Kalshi said after the announcement that it was analysing the decision. We found no court challenge by either platform.
Before the block, on March 9, 2026, InfoMoney and Forbes Brasil reported a partnership under which XP International (through its Clear brand and offshore accounts) gave Brazilian clients access to Kalshi contracts on economic events such as inflation and interest-rate decisions, expressly excluding sports and politics. InvestNews reported on April 27, 2026 that contracts on economic indicators fall within the exception in CMN Resolution 5.298/2026. We could not confirm whether the XP offering continued after the resolution took effect on May 4, 2026.
Several federal bodies are involved. The Secretariat of Prizes and Bets of the Ministry of Finance (Secretaria de Prêmios e Apostas, SPA/MF) regulates fixed-odds betting under Law 14,790/2023. The National Monetary Council (Conselho Monetário Nacional, CMN), with the Central Bank (Banco Central do Brasil, BCB) and the Securities Commission (Comissão de Valores Mobiliários, CVM), regulates derivatives under Laws 4,595/1964 and 6,385/1976. Anatel, the telecoms agency, carries out site blocks: Law 14,790/2023, art. 17 §3, requires internet connection and application providers to block sites offering unlicensed fixed-odds betting once notified by the Ministry of Finance. The Superior Electoral Court (TSE) oversees election rules.
April 23, 2026 (official): Technical Note SEI no. 2958/2026/MF of the Secretariat of Prizes and Bets concluded that Polymarket and Kalshi operate unlicensed fixed-odds betting in Brazil, citing Law 14,790/2023 (arts. 2, 3, 8, 17, 19, 20 and 26), Law 13,756/2018 art. 29, the anti-money-laundering Law 9,613/1998, Law 13,260/2016, Ordinances SPA/MF 1,231/2024 and 1,143/2024 and TSE Resolution 23,735/2024, and recommended blocking Brazilian access. This followed a request made on March 9, 2026 by licensed betting operators through the IBJR trade body to block both platforms, reported by Poder360; the Ministry confirmed three meetings and said no company was authorised for this segment.
April 24, 2026 (official, with secondary reports): the federal government (Ministry of Finance, Civil House, Central Bank and CVM) announced the blocking of 27 prediction platforms (some reports say 28), including Polymarket and Kalshi, and published CMN Resolution 5.298 of April 24, 2026. Finance Minister Dario Durigan said the platforms operate ‘in non-compliance with the law’ (reported by Bloomberg Línea and Yogonet Brasil). The resolution prohibits offering or trading derivatives whose underlying is a real sporting event, a virtual online-game event, or a real or virtual political, electoral, social, cultural or entertainment event without an economic-financial basis; it applies to contracts offered in Brazil, including contracts traded abroad and distributed directly or indirectly in Brazil, and tasks the CVM with complementary rules and supervision. Derivatives on price indices, interest and exchange rates, credit metrics, commodities, listed securities and other verifiable economic variables remain allowed. The resolution took effect on May 4, 2026.
Block type: an ISP and DNS block, applied after Anatel notifies internet providers; Finsiders reported on April 24, 2026 that Anatel notifies roughly 19,000–20,000 providers through the same channel it has used for illegal betting domains since 2024. Every action targets the platforms, internet providers, app stores and advertisers, not users. We found no court challenge to the block and no lifted or reversed action as of September 26, 2026.
September 23, 2026 (secondary): the Attorney General's Office (Advocacia-Geral da União, AGU) and the Ministry of Finance obtained the removal by Meta of the Brazilian Instagram profile @polymarketportugues (formerly @polymarketbrasil), which promoted markets on the presidential election of October 4, 2026; the Secretariat of Prizes and Bets treated the advertising as an administrative infraction under Law 14,790/2023, art. 17. Reported by Yogonet Brasil on September 24, 2026, following an investigation by Núcleo Jornalismo published on September 23, 2026.
Elections: Agência Pública (September 3, 2026, updated September 24, 2026) cites TSE Resolution 23,735/2024, art. 6 §7, as barring digital platforms from offering products or advertising tied to candidates or election results. The TSE declined to comment on specific cases, and we found no TSE order naming Polymarket or Kalshi.
The entries below are rendered from the same dated data as the main country table, newest first. Each row shows the date, the authority as it names itself, the type of action, the platform it concerns and the source with its type.
Public regulator, court and police actions concerning Polymarket and Kalshi in Brazil, as of 2026-09-24. Not legal advice.
This section reports what the law and the authorities in Brazil have said about people who take part in these markets, and any enforcement against users that has been made public. It describes; it doesn't advise.
Law 14,790/2023 contains no article that penalises a bettor for using an unauthorised operator: art. 21 is directed at payment institutions and art. 39 lists infractions by operators. The 2026 actions are directed at the platforms, internet providers, app stores and advertisers. We found no prosecution or administrative penalty against a Brazilian user of either platform.
The government framed the block as consumer protection: the Consumer Secretary, Ricardo Morishita, described the risk as ‘playing, winning and not getting paid’ (reported by Finsiders, April 24, 2026). CMN Resolution 5.298 does not say how contracts that already existed on May 4, 2026 are to be treated (reported by Fala Regional, April 25, 2026), and we found no official guidance on existing positions. We also found no statement from the federal tax office (Receita Federal) specific to prediction-market winnings.
The 2026 presidential election drove most of the attention. Agência Pública reported that Polymarket's market on the Brazilian presidency had traded about US$141.7 million by September 2, 2026 (US$147 million by September 10), that 656 Instagram posts between May and August 2026 and more than 15 influencers promoted Polymarket without advertising disclosure, and that Bruno Richards of Not Journal was described as Polymarket's ‘country manager’. Aos Fatos reported that Flávio Bolsonaro and allies shared Polymarket odds as if they were opinion polls. Polymarket told Agência Pública that it does not support candidates, parties or ideologies.
Payments: licensed Brazilian betting sites must take payments by PIX only, with cards and crypto prohibited for licensed operators (reported by Clube FM, April 27, 2026); neither Polymarket nor Kalshi offers PIX. We found no Central Bank or Ministry of Finance order to payment institutions naming either platform.
PolyKal is a read-only research site, and it does not restrict access by country, including from Brazil. Its public pages, including prices on both platforms, order-book depth, after-fee cost comparisons, the fee calculator, and large-trade and whale data, need no account. You don't need a VPN to use them.
Viewing public market data is not trading. PolyKal doesn't place orders, hold funds or give access to trading on either platform, and a restriction on Polymarket or Kalshi in Brazil still applies to trading there. Polymarket's help center says that using a VPN to get around its restrictions violates its Terms of Use, and Kalshi's Member Agreement excludes people in its restricted jurisdictions; getting around a block can also break local law. PolyKal doesn't help anyone get around them.
Start with the compare page, the fee calculator or large trades, or read how Polymarket works and how Kalshi works.
Brazil is one of 27 countries, plus the United States, that PolyKal tracks. The full availability table shows every country's status under each platform's rules and its regulator actions side by side, with the same dates and sources as this page, and its change log lists every edit we make.
Every entry is re-checked at least once a quarter, and sooner when a platform or regulator announces a change. The next scheduled full re-check is shown in the sidebar.
Twice over. Polymarket's own Help Center (updated August 14, 2026) lists Brazil as blocked, and Brazil's federal government ordered internet providers to block Polymarket on April 24, 2026, under Law 14,790/2023 and CMN Resolution 5.298/2026. Press reports on September 11, 2026 said the site was still reachable through some smaller providers; the Ministry of Finance said that occasional access does not mean authorisation.
Kalshi's own Member Agreement does not list Brazil as a restricted jurisdiction (checked September 24, 2026), but the Brazilian government's block order of April 24, 2026 covers Kalshi as well as Polymarket, and CMN Resolution 5.298/2026 prohibits derivatives on sports, political and similar events offered in Brazil. Kalshi's co-founder has said the company wants to work with the government; we found no court challenge.
The Secretariat of Prizes and Bets concluded in Technical Note 2958/2026 (April 23, 2026) that both platforms offer fixed-odds betting without the licence that Law 14,790/2023 requires, and the National Monetary Council decided in Resolution 5.298/2026 that derivatives on sporting, political, electoral and entertainment events without an economic-financial basis may not be offered in Brazil. The government presented the block as consumer protection.
We can't tell you whether it is legal for you, and this page is not legal advice. What we can report: Law 14,790/2023 penalises unlicensed operators, payment institutions and advertisers, and contains no article penalising bettors; the 2026 block targets the platforms and internet providers; and we found no enforcement against an individual user. Check the current law and the platforms' terms before doing anything.
On PolyKal, yes: it is a read-only research site that shows prices, order-book depth and large trades on both platforms without an account, and it does not restrict access by country. Viewing data is not trading; PolyKal does not place orders and does not help anyone get around a block.
No. Polymarket's help center says that using a VPN to get around its restrictions violates its Terms of Use, and Kalshi's Member Agreement excludes people in its restricted jurisdictions. Getting around a block can also break local law. You don't need a VPN to research these markets: PolyKal's prices, order books and fee calculator don't require one.
We re-check every country page at least once a quarter, and sooner when a platform or regulator announces a change; each rule and action on the page shows its own date and source. If you spot something out of date for Brazil, email [email protected] with a link to the new rule or order.
Every statement on this page rests on the sources below. Platform rules were checked against Polymarket's and Kalshi's own pages on September 24, 2026; regulator, court and police actions were checked against the sources listed on September 24–26, 2026. Each source is marked as official, a platform document or a secondary report. Where only secondary reporting was available, we cite it and say so; where official sources conflict, we report both. We re-verify this page quarterly.
Official: Technical Note SEI no. 2958/2026/MF, Secretariat of Prizes and Bets (PDF, gov.br) (April 23, 2026); Law 14,790/2023 (Planalto); CMN Resolution 5.298 of April 24, 2026 (PDF, mirrored by InternetLab).
Secondary, on the April 2026 block: Bloomberg Línea Brasil (April 24, 2026); Finsiders Brasil (April 24, 2026); Fala Regional (April 25, 2026); Yogonet Brasil, list of the 27 blocked platforms (April 27, 2026); Clube FM (April 27, 2026); Machado Meyer, law-firm note on Resolution 5.298 (April 27, 2026); Poder360, on the operators' request (March 9, 2026).
Secondary, on enforcement and later actions: BNLData (September 11, 2026); Brasil em Folhas (September 11, 2026); Yogonet Brasil, on the Instagram profile removal (September 24, 2026); Agência Pública (September 3, 2026, updated September 24, 2026); Aos Fatos (undated).
Secondary, on Kalshi and XP: iGaming Brazil (June 9, 2026); Bloomberg Línea Brasil, interview with Luana Lopes Lara (undated); InvestNews (April 27, 2026); InfoMoney (March 9, 2026); Forbes Brasil (March 2026).
Platform documents (all countries): Polymarket Help Center: Geographic restrictions (updated August 14, 2026), Polymarket developer docs: Geoblock (undated), Kalshi Member Agreement (undated; fetched September 24, 2026) and Kalshi Help Center: trading from outside the US (updated March 20, 2026).
PolyKal is an independent research tool. We are not affiliated with, endorsed by, or operated by Polymarket or Kalshi. We report each platform's published rules and public regulator, court and police actions in Brazil; we don't say whether trading is legal for you, and we don't help anyone get around a platform's restrictions. Last reviewed September 26, 2026. Not legal or financial advice.
Know of a newer rule, order or court decision for Brazil? Email [email protected] with a link to it.